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Summer Statement. July 2020

As ever the devil will be in the detail which we await over the next few days. But for now her is a summary of the key point courtesy of BBC News

Update to the Job Retention (Furlough) Scheme

Guidance was updated on 12th June 2020, with respect to the changes coming to the Job Retention (Grant) Scheme. From 1st July employers who have previously “furloughed” employees – prior to 30th June 2020 can “flexibly furlough” employees. This means that employees can work for the business for any pattern of hours / days per

Extension to the Self Employment Income Support Scheme (SEISS)

Alongside the amendments to the Job Retention Scheme, the Self Employment Income Support Scheme is also extended. Applications are invited from August for a second and final grant to be paid out in a single instalment covering three months’ worth of average monthly profits. The value of the final grant will be 70% of three

How to setup Government Gateway account

The video below shows step by step how to setup the government gateway account to give access to your tax records online

Self Employed Income Support Scheme (via HMRC)

As part of the measures available to businesses as a result of the outbreak of COVID-19 the above is coming online this month (a little earlier than expected) One very important point about this is that HM Revenue and Customs (HMRC) have specifically excluded accountants / agents from the process – and therefore you will