1 May 2020 - Due date for corporation tax due for the year ended 30 July 2019. 19 May 2020 - PAYE and NIC deductions due for month ended 5 May 2020. (If you pay your tax electronically the due date is 22 May 2020). 19 May 2020 - Filing deadline for the CIS300 monthly return for the month ended 5 May...
Muras Matters: Coronavirus Bounce Back Loan Scheme Launches Today
Background The new Bounce Bank Loan Scheme is available to provide financial support to UK businesses that have been disrupted by the Coronavirus (COVID-19) outbreak, and eligible businesses can benefit from loans of up to £50,000. The government will guarantee 100% of the loan, with no fees or interest payable for the first 12 months. The scheme has now been officially launched...
Coronavirus – Business update 4 May 2020
Low interest rates announced for Bounce-Back Loan Scheme (BBLS) This new scheme announced last week, was the subject of a letter from the Chancellor (1 May 2020) to the accredited lenders who have been instructed to facilitate the scheme since 4 May 2020. In his letter he said: In my statement to the House of Commons on Monday I announced the government’s intention...
Do not forget to file returns for benefits and expenses
Aside from the plethora of schemes to support businesses during the coronavirus disruption, employers should not forget that there is a raft of filing obligations that still need to be met. This post lists the various employer reporting obligations regarding employee benefits and expenses for 2019-20. The following table is reproduced from the government website: What you need to do Deadline Submit your P11D...
Aggressive rent collection to be banned
High street shops and other companies under strain will be protected from aggressive rent collection and asked to pay what they can during the coronavirus pandemic. In a recent press release a government spokesperson said: “The majority of landlords and tenants are working well together to reach agreements on debt obligations, but some landlords have been putting tenants under undue pressure by...
Muras Matters: Coronavirus (COVID-19): Update on Help and Support Available
Background Towards the end of March, as the seriousness of this pandemic was just becoming clear, we reported on the measures that were being implemented by the government in order to support businesses and individuals and keep the country running. As we near the end of this month, we thought it would be useful to recap on the measures in place...
Carry-over of unused annual leave
The rules that would have limited the rights of employees in key industries to carry forward any unused annual leave will be delighted by the announcement made two weeks ago. This will mainly apply to workers in key industries such as food and healthcare. Workers who have not taken all of their statutory annual leave entitlement due to COVID-19 will now...
COVID-19 – support grants and loans update
This week has seen a flurry of changes to the various government support schemes. We have summarised a few in this article. Coronavirus Job Retention Scheme (CJRS) The HMRC portal – where you formally register your claim - should be live as from 20 April 2020. HMRC have published a “user” guide to the claims process. In the general information about the...
Coronavirus – Business update
Coronavirus Job Retention Scheme (CJRS) Employers will be relieved that the waiting is over, as of 5.30am this morning (20 April 2020), they can login to HMRC’s new portal and claim their CJRS rebate for the first pay periods. HMRC have promised that money will be in employers’ bank accounts within six working days of registering their claims. And just in case...
Safety first options for manufacturing and retail sectors
Both of these sectors require people to work in close proximity to each other. Government has issues broad guidelines to reduce the risks for workers from Coronavirus. Manufacturing and processing businesses Manufacturing plays an important role in the economy. It can continue if done in accordance with the social distancing guidelines wherever possible. Where it is not possible to follow the social distancing...