Following on from the changes for Flexible Furlough from 1 July there is also to be a gradual end to the Job Retention Scheme with the scheme due to end on 31 October 2020. As the level of grant gradually reduces, employers are still required to pay any staff on Furlough 80% of their [...]
From 1st July HMRC have introduced the ‘flexible furlough’ to enable businesses to start to bring their employees back to work. You can now claim a more flexible grant for any employee you have previously received a Coronavirus Job Retention Scheme grant for, and who now returns to work on reduced hours. Employees can [...]
Under the Job Retention scheme a furloughed employee which can be a director is not allowed to work. HMRC have said that an exception to this rule is where a director is fulfilling his statutory duty to the company. This would include checking and signing a VAT return, liaising with the accountants in producing the [...]
Employers will be aware that under the Job Retention scheme, a claim can be made for the Employers National Insurance related to furloughed pay. HMRC have issued guidance on how this interacts with the Employment Allowance which goes up to £4000 from 6 April 2020. HMRC says: "In calculating the total employer National Insurance [...]
Was it a good Budget for you? The Spring Budget didn’t startle, but it was a generally gloomy one for business owners. What changes were announced and how might they affect you? Dividends. The so-called dividend allowance (DA) of £5,000, which is actually a 0% rate band, introduced on 6 April 2016 will be slashed [...]
From 6 April you have to keep a record of the people who control your company. From 30 June you have to give details of these people to Companies House. The question is: who does control your company? Some of the answers are easy. Anyone who owns more than 25% of the shares or voting [...]
New regulations came into force on 1 December 2014 which apply to eligible parents where a baby is due, or a child is placed for adoption, on or after 5 April 2015 enabling parents flexibility in the way they take their parental leave. If an employee is eligible for Shared Parental Leave they can use it to take [...]
If you need to borrow for your business it is important to ask yourself a number of questions before you approach a financial institution like a bank. Am I giving too much credit to my customers? Are my stocks too high? Am I getting enough credit from my suppliers? Am I living beyond my means? [...]
Since the beginning of this year, the VAT rules on selling digitally to non-registered businesses in the EU have changed. If you sell to the public such things as images or text, photos, e-books, games, web-hosting services, software, website advertising (the list goes on and on) then legally you have to register for VAT in [...]
Break the basic rules on credit control and you soon lose out. But we are all guilty of lapses. What are the basic rules? Don’t give credit unless you really have to. If someone wants credit, get them to provide two trade references. Keep the credit period short. There is nothing magic in 30 days [...]