National Living/Minimum Wage Changes from 1 April 2021

From 1 April 2021 the National Living/Minimum Wage rates will increase as follows:  • £8.91 an hour for workers aged 23 and over - previously £8.72 The National Living wage now applies to workers who are 23 years of age or older (previously 25). • £8.36 an hour for workers aged 21 to 22 – previously £8.20 • £6.56 an hour… Continue reading National Living/Minimum Wage Changes from 1 April 2021

Spring Budget 2021

Yesterday, Chancellor Rishi Sunak presented his Budget, which as expected focussed a lot on continuing short-term measures to help support both individuals and businesses through the next few months, but also included some longer-term plans in the government’s attempt to try and reduce the national borrowing. Here is a summary of some of the key… Continue reading Spring Budget 2021

VAT reverse charge for construction services

After three false starts the VAT reverse charge will now come into effect on 1st March 2021. The reverse charge represents part of a government clampdown on VAT fraud. Large amounts of VAT are lost through 'missing trader' fraud. As part of this type of fraud, VAT is charged by a supplier, who then disappears,… Continue reading VAT reverse charge for construction services

Covid-19 And Your Mental Wellbeing

During the COVID-19 pandemic, there has been a lot of information about the virus and its effects on mental health. Bereavement, isolation, loss of income and fear to name a few are triggering mental health conditions or aggravating existing ones. Many people may be facing increased levels of alcohol and drug use, insomnia, and anxiety.… Continue reading Covid-19 And Your Mental Wellbeing

Taxpayers claim tax relief for working from home

HMRC has received more than 54,800 claims from taxpayers using a new online portal which allows workers to claim tax relief for working at home. From 6 April 2020, employers have been able to pay employees up to £6 a week tax-free to cover additional costs if they have had to work from home. Launched… Continue reading Taxpayers claim tax relief for working from home

Winter Economy Plan support for the self-employed

Photo by Burst on Pexels.com As part of the Winter Economy Plan the Self-Employment Income Support Scheme (SEISS) will be extended under the name SEISS Grant Extension. The grant: will be limited to self-employed individuals who are currently eligible for the SEISS, andwill be available to individuals who are actively continuing to trade but are… Continue reading Winter Economy Plan support for the self-employed

Job Support Scheme

Photo by Andrew Neel on Pexels.com The existing job support scheme, the furlough scheme, comes to an end on 31 October. As part of the Winter Economy Plan the government announced it will be introducing a new Job Support Scheme from 1 November 2020. For employers to participate in the scheme: employees will need to… Continue reading Job Support Scheme

New trade arrangements with the EU from 1 January 2021

HMRC has sent letters to VAT-registered businesses in Great Britain trading with the EU, or the EU and the rest of the world. They explain what businesses need to do to prepare for new processes for moving goods between Great Britain and the EU from 1 January 2021. Measures explained in the letter include: making… Continue reading New trade arrangements with the EU from 1 January 2021

Business as usual, we are here to help.

We are all homeworking & providing all our usual services.  Areas where we are seeing an increased need for help; 1. Preparation of forecasts & loan applications.  These are needed to assist businesses with cash requirements over the next few months .They are required to support business interruption loan applications which we are assisting with… Continue reading Business as usual, we are here to help.

Employer Update

National Living/Minimum Wage Changes from 1 April 2020 From 1 April 2020 the National Living/Minimum Wage rates will increase as follows: • £8.72 an hour for workers aged 25 and over - previously £8.21• £8.20 an hour for workers aged 21 to 24 – previously £7.70• £6.45 an hour for workers aged 18 to 20… Continue reading Employer Update