... Will Everyone Pray? Willing Entrepreneurial Productivity?
The Chancellor clearly thought it was time we heard from him again and he needed to act sooner with further initiatives for businesses.
Two and half months after his first announcement on government help for businesses, on Friday the Chancellor amended and extended the self employed (SEISS) and employee (CJRS) grant schemes to reflect the anticipated gradual exit from the Coronavirus lockdown.
Now we've probably heard all the major Coronavirus announcements from the Chancellor, what choices do Director-Shareholder Limited Companies have to help them through this crisis? We provide a checklist below with signposting to the relevant part of gov.uk.
Applicable to all companies and all taxes, you can call HMRC and agree a scheduled delay to paying your taxes. Have a realistic proposal that you can stick to. Signpost: https://www.gov.uk/government/news/tax-helpline-to-support-businesses-affected-by-coronavirus-covid-19
Companies house will allow you to send in your accounts 3 months later than normal, a increase from the usual 9 months to 12 months, as long as you ask before the 9 month deadline.
The Chancellor today announced probably his final major finance coronavirus package.
The self employed find themselves in a new world requiring state support when they need very little in normal times. However, many remain excluded and will need to turn to other measures previously announced.
Your grant will be based on 80% of the average of your profits showing in your income tax returns for the 2019, 2018 and 2017 income tax years.