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Pay VAT deferred due to coronavirus (COVID-19)

Pay VAT deferred due to coronavirus (COVID-19)

HMRC have opened applications to join the new payment scheme from today. The new scheme allows businesses to spread the VAT deferred from 2020 in equal, interest free, installments over 2 - 11 months depending on when the business joins the scheme and how many months they choose. As an example,...

Summer Economic Update | Gross Klein Wood

Summer Economic Update | Gross Klein Wood

With the Coronavirus Job Retention Scheme coming to an end in October, Chancellor Rishi Sunak has today announced several measures to support jobs in the country. Supporting Jobs UK Employers will receive a one-off bonus of £1,000 for each furloughed employee...

Furlough scheme portal opens for claims on 20 April

Furlough scheme portal opens for claims on 20 April

HMRC have announced that the online Coronavirus job Retention Scheme service will open on 20 April with the first claims to be paid 10 days later. Future claims will be paid within four to six days. Employers will access the system using their current...

Covid-19: Advice for Businesses | Gross Klein Wood

Covid-19: Advice for Businesses | Gross Klein Wood

The government has released several measures to support businesses affected by coronavirus, these packages include: Coronavirus Retention Scheme This allows employers to claim 80% of employees wages, more information can be found here. Deferral of VAT payments If your business has a VAT payment...

Covid-19: Advice for the self-employed

Covid-19: Advice for the self-employed

Self-employment Income Support scheme (SEISS) The government has announced a Self-employment Income Support Scheme (SEISS) that will support self-employed individuals (including members of partnerships) who have lost income due to the virus. This scheme will allow you to claim a taxable grant...

Covid-19: Advice For Employers | Gross Klein Wood

Covid-19: Advice For Employers | Gross Klein Wood

Coronavirus Job Retention Scheme 17 April 2020 update: CJRS scheme extended into June. 15 April 2030 update: CRJS cut-off date extended to 19 March from 29 February, this means any new employees employed upto 19 March are now eligible for furloughed. On 25 March 2020 the government released...

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