By Nikki Spoor, Travel, Audit and Tax Director at White Hart Associates The Government’s Coronavirus Job Retention Scheme is so far estimated to have cost the Treasury around £14bn per month and helped protect millions of jobs in the UK. However, there is a feeling that the furlough scheme, as it is called, is also…
By Chris Photi, Head of Travel and Leisure at White Hart Associates The travel industry has been through the toughest period anyone can remember and unfortunately it is set to get worse before it gets better. The government’s quarantine rules and advice against travel, coupled with the tapering off of the furlough scheme, will put…
A new Discretionary Grants Scheme has become available for those who were not able to access a grant in the first round of financial aid offered from the Government. This new fund will be provided by Local Authorities for businesses financially struggling. It is discretionary, so not definite, but might be worth investigating for your…
Since the start of the lockdown period, the Government have introduced a package of support measures for businesses affected by the Covid-19 outbreak. The Coronavirus Statutory Sick Pay Rebate Scheme was introduced as part of these measures. Since HMRC have also made a number of legislative changes to measures since the Chancellor’s Announcement, we have…
The Government have now finalised the arrangements for the self-employed to potentially receive a grant to help mitigate the financial effects of COVID-19. The scheme will allow the self-employed, if eligible, to claim a taxable grant of 80% of your average monthly trading profits, paid out in a single instalment covering 3 months and capped…
By Christopher Photi – Head of Travel and Leisure at White Hart Associates The Chancellor has provided numerous support measures from the Government to help UK businesses during this unprecedented time. Our dedicated team at WHA wanted to provide a concise list of all of the measures open to you and your business. These Government…
The HMRC Government furlough reclamation portal is now live and open for processing your claim. The active HMRC portal can be accessed here: https://www.gov.uk/guidance/claim-for-wages-through-the-coronavirus-job-retention-scheme In order to process a claim, you will need to provide the following information: 1. Your Government Gateway ID and password. 2. Your employer PAYE reference number. 3. The number of…
By Chris Photi, Head of Travel & Leisure at White Hart Associates In late 2018 HMRC issued Revenue and Customs Brief 13 (2018) outlining HMRC’s VAT policy on retained payments and deposits, seeking to collect VAT from businesses on retained deposits when customers do not take up supplies. Prior to implementation on 1 March…
By Nikki Spoor, Travel, Audit & Tax Director at White Hart Associates Chancellor of the Exchequer Rishi Sunak was lauded when he announced unprecedented measures to help save businesses during the current virus pandemic. The Government revealed it will, for three months, pay a grant of 80% of the salary of staff who are kept…
Over the past week, the Chancellor and the Government have been outlining the steps to support businesses during this unprecedented time for the UK and world economy. We have received several enquiries from our clients who are self-employed asking how they will be supported during this difficult period. So far, the offer of support from…
