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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 31^st July 2020 until the 31^st 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 ...

Coronavirus self-employed help scheme – the self-employed income support scheme – SEISS announced on the 26^th March

As the self-employed only report their income annually, and that can be some months after the end of the trading period, for example if your trading period ends on the 31^st March, the tax return covering that period, and the profits from that trading period, do not have to be submitted until the following 31^st January, HMRC had to come up with a way ...

Well there’s a turn up for the books, I hadn’t expected that!  I guess that shows the seriousness of the situation for all of us who run our own businesses.

The self-employed are to receive a similar grant to that offered to employers for employees.  80% of your profits up to £2500 per month for at least 3 months, bringing parity to the Coronavirus Job Retention Scheme announced for employees.

The new scheme is called the Self-Employed Income Support Scheme.  To be ...

As I am sure you will already know the government have announced a scheme to help employers whereby 80% of salaries are covered by HMRC grants.  However, what you may not know are details of the scheme and how it will operate.  The scheme is called Coronavirus Job Retention Scheme – catchy title isn’t it………

The salary is capped at £2,500 per month, and applies from the 1st March lasting for 3 months, whether the 3 month period could be extended ...