Author Archives: Asif Zubair

Coronavirus Statutory Sick Pay Rebate Scheme is ready to launch

coronavirus-satutory-sick-pay-rebate-scheme-ready

The government is ready to launch an online service (portal) for employers to claim under the Coronavirus Statutory Sick Pay Rebate Scheme. Under the scheme, employers can claim the payments they have made to their employees during the coronavirus (COVID-19) pandemic. The portal for claiming under the SSP rebate scheme will open on 26 May. […]

Changes to Tax-Free Childcare Scheme

changes-to-tax-free-childcare-scheme

  The government has announced temporary changes to its Tax-Free Childcare (TFC) scheme as a result of the coronavirus (COVID-19) pandemic. The changes to the rules affect parents applying for, or already getting, tax-free childcare or 30 hours free childcare. Individuals whose earnings are now below the normal minimum income requirement but would normally expect […]

Job Retention Scheme extended until October: Coronavirus

job-retention-scheme-extended-until-october-coronavirus

The Coronavirus Job Retention Scheme will remain open until the end of October, the Chancellor announced on Tuesday 12 May. Chancellor Rishi Sunak has extended the Coronavirus Job Retention Scheme (JRS) until the end of October. Mr Sunak confirmed that employees will continue to receive 80% of their monthly wages up to £2,500. However, the […]

Online Marketplaces should collect VAT

online-market-places-should-collect-VAT

  The government should compel online marketplaces to collect and remit VAT, according to the Association of Accounting Technicians (AAT). The AAT was responding to ‘Claims and Elections Review’ call for evidence published by the Office of Tax Simplification (OTS). It said the move would help combat online VAT fraud and create a level playing […]

Bounce Back Loan Repayments: UK Finance warns firms

Bounce_Back_Loans-repayments-UK-finance-warns-firms

  UK Finance has warned small businesses to consider their ability to repay a Bounce Back Loan before taking one out. They warned businesses after the publication of Treasury figures highlighting the popularity of the Bounce Back Loan Scheme. The scheme allows small businesses to apply for up to £50,000, with the government guaranteeing 100% […]

Bounce Back Loan Scheme : Coronavirus

bounce-back-loan-scheme-for-small-businesses

The government has announced a 100% government-backed Bounce Back Loan Scheme for small business to help them make it through the coronavirus outbreak.   What does the new Small Business Bounce Back Loan actually mean for small businesses?  Chancellor Rishi Sunak announced a new government-backed loan to support small businesses on Monday 27th April. The […]

Lenders offered 1.6 million payment holidays

lenders-offere-1.6-million-mortgage-paymant-holiday-houses-in-uk

  Lenders have given over 1.6 million mortgage payment holidays to support customers impacted by Coronavirus, UK Finance revealed. Payment holidays are now covering 1/7 mortgages following lenders’ steps to help households. Coronavirus crisis has affected the finances of homeowners badly. For the average mortgage holder, the payment holiday amounts to £755 per month of […]

Tax consultation deadlines extended: Covid-19

tax-consultancy-deadlines-revised-hmrc-and-treasury-building

HMRC and the Treasury have extended their tax policy consultation deadlines. They have set out revised timelines for tax policy consultation and other work in the light of the current Covid-19 crisis. Government has extended the deadlines in order to allow more time for feedback but has declared that all planned reforms will still go […]

Business Impact of COVID-19 – ONS’s Survey

business-impact-of-covid-19-survey-ons-building

  ONS held a survey on Business Impact of COVID-19 Survey for the period 23 March to 5 April 2020. Respondents were asked to respond to the questions between 6 April and 12 April 2020. The questions were based on their experiences from 23 March to 5 April 2020. Office for National Statistics (ONS) has […]

Chancellor expands loan scheme for large businesses

large-business-loan-scheme-update

The chancellor has expanded the government-backed Coronavirus Large Business Interruption Loan Scheme to cover all viable firms. Ahead of the scheme’s launch on Monday (April 20), Sunak unveils the final details of Coronavirus Large Business Interruption Loan Scheme. Who is eligible for the Coronavirus Large Business Loan Scheme? all viable businesses with turnover of more […]