On The Spot Blogs

Coronavirus Grants 2.0 - Finding Your Exit - Small 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.

Apart from using the same £2,500 monthly maximum, the two schemes are very different with the self employed now compensated for a maximum of 6 months and employees a maximum of 8 months. This perhaps reflects the fact that the self employed can work as much as possible, but employees cannot work at all or, more likely, the government would prefer employers to take more time to make decisions about redundancies.

What do I need to know?

Self Employed (SEISS)

 

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Coronavirus - Limited Companies - What Are Your Choices?


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.

Time To Pay

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

Time To File

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.

 

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