January Coronavirus lockdown

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Welcome to the New Year.  Unfortunately we are still facing the challenges of the Coronavirus, but at least we have seen the start of the vaccination programme rollout, so things are beginning to look up.

With the introduction of further restrictions in January, due to the increased spread of Coronavirus, it is increasingly likely that those of us who are self-employed will be looking to make claims for financial support.  With this in mind we at Synergy thought it might be ...

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3rd Self Employed Income Support Scheme Grant Claims open today

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The third Self Employed Income Support Scheme Grant can be claimed from today.  It can be claimed at any time from today (30th November 2020) until the 29th January 2021.  The grant money, like trading profits, will be subject to tax and National Insurance Contributions, and must be reported on your tax return for the tax year ending 5th April 2021.

To make a claim for the third grant you must –

  • be self-employed or a member of a partnership – you ...
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Update on help for 2nd National Lockdown

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The original announcement on help available has now been updated for the third time and whilst this is extremely annoying and confusing the payments have been increased which is at least some comfort.  Updates taking account of the latest announcement on the 5th August are –

Furlough Scheme

The Job Retention Scheme has been extended to the 31st March 2021.  The grant will be 80% of the employees usual pay until the 31st January 2021.  Employees must be on the PAYE payroll ...

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Help available for 2nd National Lockdown

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Well here we are again, everything thrown up in the air and many of us not sure what help will be available to us through these difficult times ☹

I have highlighted the three areas that apply to the majority of my clients, whether they are self-employed, and or employers, and or are subject to business rates, or are an employee of their own limited company.

Furlough Scheme

It looks as if the Furlough Scheme ...

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Self-Employed Income Support Scheme – applications for second grant open now

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The second grant opened yesterday (17th August 2020), following the closure of the first grant on the 13th July.  Applications for the second grant are being staggered, as they were for the applications for the first grant, to restrict the numbers making the application, and thus prevent the system from being overloaded and crashing.  Applications can be made until the 19th October 2020, so there is plenty of time to make the claim if you are unable to access the ...

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Furlough Scheme set to reduce before ceasing at the end of October

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Whilst the furlough scheme is set to reduce it will also allow greater flexibility to bring employees back to work part-time from 1st July.

The furlough scheme will continue to operate in the same way it has done since its introduction until the end of July, but with the addition of allowing employees to return to work part-time and remain on the scheme from the 1st July.

An example of the way the scheme will support employees returning to work part-time was ...

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Extension to Self Employed Income Support Grant

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The chancellor has announced an extension to the Self Employed Income Support Scheme.

This will be welcome news to those who were eligible for the first grant under the scheme as they will be eligible to apply for the second grant.

The Scheme will be open for applications in August.

The grant will be reduced to 70% of the average monthly trading profits.

You do not need to have claimed the first grant to be eligible for the second grant.  But if you are ...

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Payments on account for July 2020 deferred

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So the lockdown continues…………………….

Our clients in Teignmouth and Penzance, and the surrounding areas, will know from previous information we have provided, that the government have announced that self-assessment tax payers can defer the payments on account normally due by the 31st July 2020 until the 31st January 2021.  If you are due to make a payment in July 2020 and wish to defer the payment until January 2021 there is no action that needs to be taken other than to ...

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