Payments on account that were due on the 31 July 2020 will now be payable by the 31 January 2021. This is an automatic offer with no applications required. No penalties or interest for late payment will be charged in the deferral period. However, at the weekend Prime Minister Boris Johnson was forced to declare that…Read More
The next quarter of VAT payments will be deferred, meaning businesses will not need to make VAT payments until the end of June 2020. Businesses will then have until the end of the 2020-21 tax year to settle any liabilities that have accumulated during the deferral period. The deferral applies automatically and businesses do not…Read More
Under the new Coronavirus Job Retention scheme, government grants will cover 80% of the salary of PAYE employees who would otherwise have been laid off during this crisis. The scheme, open to any employer in the country, will cover the cost of wages backdated to 1 March 2020 and will be open before the end…Read More
In the last few days, the Government has made major announcements about help for small businesses and individuals affected by coronavirus. Below is a summary of the significant points, although details are awaited as to how some of these schemes may be accessed. The following measures were announced in the Budget and have not (to…Read More
