Registered Office: Trewidden, 26 Braemar Rd, Gosport, PO13 0YA

ANNIE MANLY & CO LTD

Independent Accountancy & Taxation Services

Tel: 01329 512999

Email: enquiries@anniemanly.co.uk

 

 

Opening Hours: Mon to Fri, 9:30am to 5pm

Coronavirus - Latest Measures as Announced

...in process of being updated to reflect new measures announced on 24 September 2020

 

 • Coronavirus Bounce Back Loans and 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

 

 

Limited Companies - Extension to Filing Deadlines

 

 

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

 

 

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?

 

 

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

 

Annie Manly & Co Ltd

24 September 2020