Director/shareholders of small companies may be considering reducing their salaries and/or dividends during this uncertain period. Even if firms are managing to maintain profits or breakeven, prudence would suggest that until things improve we should do what ever we can to preserve cash reserves. Many directors have taken the sensible option to minimise their salaries and take any balance as dividends....
New support for High Street retailers
The High Street Task Force has launched a range of support options for High Street traders in England. In a press release issued 12 June it was announced: A package of support to help high streets to get back on their feet has been launched ahead of shops reopening from 15 June. The High Streets Task Force will provide access to cutting-edge...
Problems as we emerge from lock-down
The precautions taken by government to contain the COVID-19 outbreak, commonly known as lock-down, have created varying problem for UK businesses. As we ease our way out of lock-down many of us will have further issues to confront. This post considers some of those issues. According to the Office for National Statistics, economic activity in the UK fell by 20.4% in...
Muras Matters: Coronavirus (COVID-19) – Update to the Job Retention Scheme and Sick Pay Support
Background The Government has now provided a further update on the recently announced changes to the Coronavirus Job Retention Scheme detailing what an employer will need to do from 1 July 2020 and other key dates to be aware of. In addition the online service for the Coronavirus Statutory Sick Pay Rebate Scheme enabling employers to recover Statutory Sick Pay payments is...
Ban on evictions extended by two months
Renters across England and Wales will receive greater protection after the government extended the suspension of new evictions until 23 August. The Ministry of Housing published the following press release 5 June 2020: Millions of renters across England and Wales will receive greater protection after the government extended the suspension of new evictions until 23 August. The extension announced by the Housing Secretary...
Furlough scheme changes clarified
HMRC released more information on the up-coming changes to the furlough scheme (CJRS) last week. A summary of two of the issues are set out below. Have you over-claimed? If you have made an error when making a claim under the CJRS and as a result you have received too much money, you must pay this back to HMRC. Somewhat belatedly, HMRC have...
Muras Matters: Company Cars Changes to Advisory Fuel Rates
This Bulletin is aimed at company car drivers (and their employers) who are not provided with fuel for private mileage Although many of us will not have been using are cars very much over the last few months during the Coronavirus lockdown, now that many of the rules are being relaxed you will need to ensure that the appropriate fuel rates...
Re-opening retail businesses from June 2020
A time-table has been announced for the re-opening of thousands of high street shops, department stores and shopping centres in England once they are COVID secure. The Prime Minister’s announcement published 25 May 2020 says: outdoor markets and car showrooms will be able to reopen from 1 June, as soon as they are able to meet the COVID-19 secure guidelines to protect...
Coronavirus Job Retention Scheme (CJRS)
On 12 May 2020, the Chancellor confirmed that this scheme will be extended until 31 October 2020. On the 29th May he confirmed the details of how the scheme would be changed to a flexible arrangement from 1 July 2020. Until 1 September 2020, claims for time not worked will continue to be based on 80% of furloughed person’s salary up...
Calculating holiday pay for workers without fixed hours
Government guidelines on this topic advise: The amount of pay that a worker receives for the holiday they take depends on the number of hours they work and how they are paid for those hours. The principle is that pay received by a worker while they are on holiday should reflect what they would have earned if they had been at...