Latest News

Keep up to date with our newsletter here

27 May 2020

The Chancellor, Rishi Sunak has made a further Treasury Direction under sections 71 and 76 of the Coronavirus Act 2020 concerning the Coronavirus Job Retention Scheme (CJRS).

The CJRS currently helps employers furlough their employees with significant government support. Employers can currently claim cash grants of up to 80% for eligible furloughed wages to a maximum of £2,500 per month...

27 May 2020

The government's dormant assets scheme allows money in accounts that have been dormant for at least 15 years to be made available for certain qualifying charitable and community causes.

The Culture Secretary, Oliver Dowden has announced that £150 million from dormant bank and building society accounts is to be unlocked to help charities, social enterprises and vulnerable individuals...

27 May 2020

National Insurance credits can help qualifying applicants to fill gaps in their National Insurance record. This can assist taxpayers to build up the amount of qualifying years of National Insurance contributions which can increase the amount of benefits a person is entitled to such as the State Pension.

National Insurance credits are available in certain situations where people are not...

27 May 2020

HMRC has published a new press release that provides some advice for people choosing to give up their income to support their business or donate to charity during the Coronavirus (COVID-19) pandemic.

Employers, directors and employees have several options to support a business or employer, including:

  • Waiving their salary or bonuses before they are paid. A ‘waiver of...
27 May 2020

HMRC has updated its guide for employers who have employees working from home due to the COVID-19 outbreak. This could be a result of the workplace being closed or because employees are following government advice to self-isolate.

The updated guidance reflects temporary changes to the rules for reimbursing employees for the purchase of office equipment whilst working from home. The...

27 May 2020

It has been revealed by HM Treasury that the VAT collected on donated personal protective equipment (PPE) will be given to charities supporting the NHS and care workers. This measure will apply to all the VAT collected on donations made from 1 March until 30 April - the period between PPE donations starting and when the temporary zero VAT rate on PPE became effective on 1 May 2020.

The...

27 May 2020

An Employee Car Ownership Scheme (ECOS) is a set of arrangements whereby employees acquire cars from a specified, often single source and within a specified financing framework. The use of an ECOS can effectively be seen as a halfway measure between providing a company car and leaving an employee to make all their car arrangements privately.

An ECOS gives employees similar benefits to...

27 May 2020

Advisory fuel rates are intended to reflect actual average fuel costs and are updated quarterly. The rates can be used by employers who reimburse employees for business travel in their company cars or where employees are required to repay the cost of fuel used for private travel. HMRC accepts there is no taxable profit and no Class 1A National Insurance on reimbursed travel expenses where...

26 May 2020

Without a doubt, the furlough scheme has provided small businesses with the means to retain staff that would otherwise have been laid-off.
The government is paying 80% of furloughed employees’ wages (subject to a £2,500 maximum). From 1 August 2020, this level of support is expected to drop to say 60%.

From the same date, 1 August, the rules that effectively ban employees from...

26 May 2020

Many retailers and manufacturing businesses have stock on their shelves gathering dust.

There are compelling reasons for tackling this issue as we cautiously emerge from lock-down.

For example, freeing up storage space will enable you increase the volume of goods that are selling.

Stock that is not selling is rather like withdrawing money from your bank dropping it into a...

25 May 2020

1 June 2020 - Due date for Corporation Tax due for the year ended 31 August 2019.

10 June 2020 - The final date that employers can furlough staff for the first time

19 June 2020 - PAYE and NIC deductions due for month ended 5 June 2020. (If you pay your tax electronically the due date is 22 June 2020)

19 June 2020 - Filing deadline for the CIS300 monthly return for the...

21 May 2020

Last month, the Chancellor, Rishi Sunak, announced a number of measures to help innovative firms survive the Coronavirus pandemic. One of these measures was the launch of a special investment fund for high-growth companies impacted by the crisis, made up of funding from government and the private sector, called the Future Fund. The government has committed to an initial £250 million in funding...

21 May 2020

The scope of the Coronavirus Large Business Interruption Loan Scheme (CLBILS) is to be extended from 26 May 2020. The maximum loan size will be increased from £50 million to £200 million. Larger businesses will be able to benefit from loans up to the lower of 25% of turnover or £200m. The changes are expected to go live on 26 May and full details are expected to be made available on that date...

20 May 2020

Under the Coronavirus Statutory Sick Pay Rebate Scheme small-and medium-sized businesses and employers will be able to reclaim Statutory Sick Pay (SSP) paid for sickness absence due to COVID-19. It has now been confirmed that the online service to reclaim SSP will launch on 26 May 2020.

In order to claim, you will need the Government Gateway user ID you acquired when...

20 May 2020

A reminder that MOT expiry dates are being extended by 6 months for all MOTs due on or after 30 March 2020. This includes vehicles that are due their first ever MOT test and applies to cars, motorcycles, light vans and other light vehicles.

The MOT expiry date will be automatically extended approximately 7 days before it’s due to expire. Your vehicle tax remains due as normal. You...

Pages

Providing the direction that leads to growth.

"Our company has relied on Sadler Talbot to manage our accounts and payroll for over 14 years.  "
Lorraine B, Civil Engineers, Oxford