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Independent Accountancy & Taxation Services

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Coronavirus - Latest Measures as Announced


 • Coronavirus Business Interruption Loan Scheme

 • Self-Employment Income Support Scheme

 • Limited Companies - Extension to Filing Deadlines

 • VAT: Payment Deferral

 • Coronavirus Job Retention Scheme

 • 2nd Instalment of Personal Tax on Account 2019/20

 • Corporation Tax Payable 1 April 2020

 • Government Updates Emailed to you Direct

 • Emergency Statutory Sick Pay

 • Useful Links



Coronavirus Business Interruption Loan Scheme

Please find further published information regarding this here



Self-Employment Income Support Scheme - now aimed for mid-May 2020

This is a taxable grant, not a loan - HMRC have stated that they will contact eligible self-employed people direct and request that people do not try to apply unless they have been contacted as this will clog up their system. However,we are, of course, watching out for this and will support our clients regarding this grant.


It was announced on 14 April 2020 that HMRC are aiming to contact "eligible" self-employed by mid-May 2020, with details on how to claim; it is expected that payments will be made by early June 2020.


The grant is calculated at 80% of your trading profits (up to a monthly maximum of £2500) for three months. This scheme may be extended.


You can apply if you're a self-employed individual or a member of a partnership and you:


    • have submitted your Income Tax Self Assessment tax return for the tax         year 2018-19

    • traded in the tax year 2019-20

    • are trading when you apply, or would be except for COVID-19

    • intend to continue to trade in the tax year 2020-21

    • have lost trading/partnership trading profits due to COVID-19


Your self-employed trading profits must also be less than £50,000 and more than half of your income from self-employment. This has been modified so that the 50% rule can be applied to 2018-19 or to the average for the tax years 2016-17, 2017-18 & 2018-19.


Please be aware of the multiple scams which are springing up - HMRC have clearly stated that you will access this scheme only through If someone texts, calls or emails claiming to be from HMRC, saying that you can claim financial help or are owed a tax refund, and asks you to click on a link or to give information such as your name, credit card or bank details, it is a scam. Here is a 'news' item on such scams.



Limited Companies - Extension to Filing Deadlines

Companies House - Filing Accounts:

Businesses will be able to apply to Companies House for a 3-month extension on filing their accounts. All companies who apply for an extension as a result of COVID-19 will automatically be granted the extension without needing to provide evidence.


HMRC - Filing of the Corporation Tax Return:

The same 3-month extension will apply to submission of the corporation tax return. Please note: this only protects the company from the fixed penalty. The tax-geared penalty will arise 18 months after the return period, if any tax remains unpaid at the 18-month date.



VAT: Payment Deferral

The Chancellor announced that VAT Registered businesses could defer payment of any VAT due for the quarters ending 29 February, 31 March & 30 April 2020 until the end of the financial year - at present this means the end of March 2021 but everything is under review. HMRC have said that there will be no interest or penalties for those specific VAT quarters if paid on time next year.


However on 24 March 2020 the reminders were emailed to businesses in respect of the current quarter to 31 March 2020 WITHOUT ANY CHANGE to the normal wording about payment dates.


The "soft landing" for Making Tax Digital has been extended to 31 March 2021.


More details will follow as HMRC publish them



Coronavirus Job Retention Scheme

Under the scheme ALL employers will be able to access support of up to 80% of furloughed employees' wages, ceiling £2500pcm. "Furloughed" employees are those designated by an employer who would otherwise have to be laid off because of the impact of Coronavirus on the business.


The mechanics for claiming this support will be via a new HMRC Portal. HMRC have stated that they expect this to be up and running at the end of April 2020.


In his Briefing on 14 April 2020, the Chancellor announced that the new dedicated Portal should be available on 20 April 2020. Payments are expected to take a very few days to process. Further details will be posted when announced. Please see Coronavirus Job Retention Scheme update.



2nd Instalment of Personal Tax on Account 2019/20

Normally payable by 31 July 2020 but has been deferred - as announced by the Chancellor. You do not need to apply to defer the July 2020 payment - simply don't pay it. The deferred tax (and NIC) will become payable by 31 January 2021.



Corporation Tax Payable 1 April 2020

HMRC have confirmed that the deferral relating to the payment of "business tax" includes Corporation Tax. An application must be made in writing to HMRC or by calling the new Helpline on 0800 015 9559. It is likely that the deferred Corporation Tax will become payable on 31 January 2021.



Government Updates Emailed to you Direct

You can log on to the Government's special Coronavirus website for updated information, both for financial help and containment measures by clicking here.


Once there you can choose to receive automatic government updates by email - you can choose how often you receive these. You will need to click the link in the resulting email to activate this service.

Note: when you access this site, scroll down for options.



Emergency Statutory Sick Pay


What are the new Statutory Sick Pay arrangements relating to Coronavirus, COVID-19?


In his Budget Statement on 11 March 2020, the Chancellor announced a change to the Statutory Sick Pay rules to help small to medium-sized businesses finance staff absence on relevant sick leave or who are required to self-isolate. PLEASE NOTE THAT COMPANY DIRECTORS ARE ALSO EMPLOYEES AND WHERE THEY MEET THE OTHER CRITERIA THEN THESE NEW RULES FOR CORONAVIRUS SSP WILL APPLY TO THEM TOO!


To quote "Statutory Sick Pay will also be available for all those who are advised to self-isolate - even if they haven't yet presented with symptoms." It was seen that there's a bit of "flexibility" in defining exactly what is meant by "advised to self-isolate" but the announcement by the Prime Minister on Monday 16 March 2020 has helped to clarify this slightly.


We have extracted the following from HMRC's Bulletin issued to Employers for guidance – see below.

If we deal with your payroll then we are advising you on this individually in advance of running the end of year reports at the end of this month.


If you deal with your own payroll processing then you should find that your software will have a "tab" labelled "SSP" where you will enter the SSP paid in the relevant pay period.


The rate of SSP is currently £95.85 pw (£94.25 pw in 2019/20) and for employees this is usually paid from the 4th day of absence on sick leave. For Coronavirus related absence SSP can be paid from Day 1 of the sick leave. The maximum period for payment of SSP is 28 weeks, under normal rules but for self-isolating claims, ie without being actually ill, then the maximum period of claim is 14 days, ie two calendar weeks..


The employer pays the SSP and subjects it to the deduction of income tax and national insurance through their PAYE Scheme in the normal way.


Under normal SSP rules employers cannot reclaim SSP ie it is not a cost to the Government but to even the smallest of employers – and that has been the case for many years now.


Under the special Coronavirus measures, employers with fewer than 250 employees are able to reclaim the relevant SSP which they pay to those employees who are entitled to it for a Coronavirus-related reason. The amount which the employer can reclaim is only for the coronavirus SSP payments and only for a maximum of 14 days. This gives a maximum reclaim for a qualifying employer for qualifying sick leave of £191.70 per employee (£188.50 if all SSP is for period in 2019/20 tax year).


As you can see from HMRC's bulletin below, details of how to reclaim the relevant SSP will be published shortly.


Watch this space for updates....

    - as at 16 April 2020 the HMRC Bulletins are still showing this as "not yet available".



HMRC Business Help & Support Emails: Budget 2020 - an extract in respect of Statutory Sick Pay


HMRC Budget 2020 measures which support businesses and employers on COVID-19:


The Chancellor has set out various measures to support public services, individuals and businesses that may be affected by COVID-19. These include:


    • For businesses with fewer than 250 employees, the cost of providing 2 weeks of COVID-19 related statutory sick pay per employee will be refunded by the government in full. This will provide 2 million employers with up to £2 billion to cover the costs of large-scale sick leave. HMRC will provide further details in due course on how employers can access the rebate. More information about this and regular updates can be found on GOV.UK.


    • A dedicated helpline has been set up to help businesses and self-employed individuals in financial distress and with outstanding tax liabilities receive support with their tax affairs. Through this, businesses may be able to agree a bespoke Time to Pay arrangement.


If you are concerned about being able to pay your tax due to COVID-19, call HMRC's dedicated helpline on 0800 0159 559.


Further details on other COVID-19 measures can be found on GOV.UK.



Useful Links

Financial support for businesses during coronavirus (COVID-19)

Government launches new coronavirus business support finder tool



For further information on Statutory Sick Pay click here

For information on any other matters please click here.




Annie Manly & Co Ltd

05 May 2020