Tax Matters

Update: Research and Development Tax Credit Relief - 1 April 2021

Research and Development Tax Credit Relief changes announced for implementation 1 April 2021 could impact your business be aware of these changes especially if you have claimed previously and will again in future.

November 11 Updated Furlough Guidance

HMRC updated their detailed guidance with details of how to make furlough claims after 1 November 2020

5 November Announcements

No real fireworks, but not a damp squib either, there were a raft of new announcements today.

Extension to Coronavirus Job Retention Scheme

On Saturday 31 October the Prime Minister said the government’s Coronavirus Job Retention Scheme (CJRS) - also known as the Furlough scheme - will remain open until December, but returning to the August level of support with employees receiving 80% of their current salary for hours not worked, up to a maximum of £2,500.

Job Support Scheme Seminar

Tax Director, Mary Tierney, discussed the Job Support Schemes

Job Support Scheme - starting 1 Nov

The chancellor announced a quite substantial revision to the Job Support Scheme on Thursday, and we suspect the more generous support may mean more employers utilise it.

Example of calculations of government grant under the open JSS scheme

Overnight the policy paper on the announcements made by the chancellor yesterday was published

Wales – Financial support for Businesses

Prior to the Chancellors national announcements today, and given the different rules around Covid in Wales, there are some specific economic measures that the Welsh has announced specifically related to their two week lockdown.

Expansion of Job Support Scheme (JSS)

We have been eagerly awaiting further details of the Job Support Scheme announced 24 September 2020 and as it was due to start 1 November it felt like it was getting a bit close to the wire.

The Self-Employment Income Support Scheme (SEISS) Grant Extension

The chancellor announced two new grants today, each available for three month periods covering November 2020 to January 2021 and February 2021 to April 2021.