Government support for individuals and businesses from the impact of Coronavirus.

Ward Williams is prepared for continuing timely support to our clients. We have identified the requirements for each area of the business to function and we are able to provide the appropriate resources to assist your business.

The government is to extend business rates relief with a £1.5 billion fund targeted at those businesses unable to benefit from the current COVID-19 support. Retail, hospitality and leisure businesses have not been paying any rates during the pandemic, as part of a 15 month-long relief which runs to the end of June this year. However, many businesses ineligible for reliefs hav ...

HMRC has published a briefing on its approach to the changes to off-payroll working rules, commonly known as IR35, which will be introduced on 6 April 2021. Reiterating its advice from last year, HMRC has confirmed that it will not issue penalties for inaccuracies in the first 12 months of the regime, unless there is evidence of deliberate non-compliance. HMRC also confirmed ...

The Budget announcements confirmed that the fourth SEISS grant will be set at 80% of 3 months’ average trading profits, paid out in a single instalment, capped at £7,500. The fourth grant will take into account 2019/20 tax returns and will be open to those taxpayers who became self-employed during the 2019/20 tax year. The previous eligibility criteria remains unchanged. Eligi ...

The Confederation of British Industry (CBI) has urged the government to provide more financial assistance to businesses affected by the coronavirus (COVID-19) pandemic ahead of the Budget on 3 March 2021. The business group has outlined support measures required to help protect UK businesses through the spring. It has called for: an extension of the Coronavirus Job Retentio ...

HMRC has announced, Self assessment taxpayers will not be charged a 5% late payment penalty if they pay their tax or set up a payment plan by 1 April. The payment deadline for self assessment is 31 January and interest is charged from 1 February on any amounts outstanding. Normally, a 5% late payment penalty is also charged on any unpaid tax that is still outstanding on 3 Mar ...

If businesses deferred paying VAT due in the period from 20‌‌‌‌ ‌March to 30‌‌ ‌June‌‌ ‌2020 and can’t afford to pay by 31‌‌ March‌‌ ‌2021, they can join the VAT deferral new payment scheme and pay their deferred VAT over a longer period. The online service will open on 23‌‌ February‌‌ ‌2021 and close on 21‌‌ June‌‌ ‌2021. Businesses can make up to 11 monthly instalments, inte ...

Businesses that took out government-backed Bounce Back Loans to get through Covid-19 will now have greater flexibility to repay their loans, the government has announced Bounce Back Loan borrowers will now have the option to tailor payments according to their individual circumstances with the option to delay all repayments for a further six months. Pay as You Grow (PAYG) will ...

The Government is to simplify the requirements for the Kickstart scheme, which is designed to create jobs for 16- to 24-year-olds, by reducing the limit for the number of vacancies employers must supply. The Department for Work and Pensions (DWP) said the scheme, which has been underway since September, has created over 120,000 jobs, but there has been criticism of the bureauc ...

HMRC is advising the self employed that the Self-Employment Income Support Scheme (SEISS) has been extended. Taxpayers who were not eligible for the first and second grant will not be eligible for the third. To make a claim for the third grant the taxpayer's business must have had a new or continuing impact from coronavirus between 1 November 2020 and 29 January 2021, which th ...

Chancellor Rishi Sunak has extended the Coronavirus Job Retention Scheme (CJRS) until the end of April 2021. Businesses adversely affected by the coronavirus (COVID-19) can make use of the CJRS until the end of April, with the government continuing to pay 80% of employees' salaries for hours not worked. Employers will only be required to pay wages, national insurance contribut ...