Author: Philip

SEISS Grant #4 won’t be confirmed until Budget Day 3 March 2021

Money Saving Expert, Martin Lewis has announced that he’s been told by The Treasury that details of the 4th Covid Self Employed Income Support Scheme grant will be announced on Budget Day 3 March 2021. This is expected to cover

New Lockdown 5/1/21

The new lockdown means many small businesses and self employed will have to close again or work from home. It’s already been announced that the furlough scheme for funding employees who are fully or partly furloughed will continue until April

Reduced rate VAT for tourism and hospitality extended to 31 March 2021.

In response to the continuing coronavirus health emergency, the reduced VAT rate of 5% and the consequential changes to the flat-rate scheme will now both have effect until 31 March 2021. The reduced rate applies to supplies provided by the

Furlough and SEISS grant changes re November lockdown

As a result of the latest lockdown, announced on 31 October, 2020, two important changes have been made to the above schemes. Firstly, furlough (or Coronavirus Job Retention Scheme, CJRS) was planned to end on 31 October, to be replaced

National Audit Office Estimates 2.9 million self employed not eligible for Govt’s Covid support schemes

A National Audit Office report issued 23 October 2020 has estimated that up to 2.9 million self employed people havn’t been eligible for the Government’s Covid support schemes. (Para 14). 1.6 million self employed were excluded from the SEISS scheme

Job Support Scheme Announced

*Written before the latest changes/announcements were made in week ended 23/10/20. Will be updated shortly when full details of the new schemes are published – now out of date due to second lockdown in December for which the previous furlough

Furlough support reducing to 70% from 1 September.

Although the amount of furlough to be paid by employers to their furloughed staff remains at 80%, the amount employers can reclaim from the Government reduces to 70% from 1 September 2020, so employers have to fund the 10% difference

Emergency Covid Funds Worth £1.5bn unclaimed

Small businesses and self employed are being urged by The Federation of Small Businesses (FSB) to claim emergency funds which are currently sat in local authority bank accounts and will be otherwise repaid to Government at the end of the

Self Employed Income Support Scheme (SEISS) Second Payment

Eligible self-employed people will be able to claim a second and final SEISS grant in August; this will be a taxable grant worth 70% of their average monthly trading profits for three months, paid out in a single instalment and

Deadline looming to start furlough

10 June is the final day an employer can furlough an employee for the first time. The Coronavirus Job Retention Scheme closes to new entrants on 30 June. After this date, only employees who have been furloughed for at least

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