TSA ACCOUNTANTS BRISTOL LTD CHARTERED CERTIFIED ACCOUNTANTS AND ADVISORS 0117 923 5394
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ACCA
www.tsabusinessadvisors.co.uk
Employers will continue to able to choose to top up Business rates relief - business rates relief is Your one shop Accountancy, and Business Advice employee wages above thestop 80% total andfor £2,500 available Tax to some business. Check your eligibility cap for the hours not worked at their own expense here. https://www.gov.uk/guidance/check-if-yourif they wish. Employers will have to pay their emretail-hospitality-or-leisure-business-is-eligible-forployees for the hours worked. business-rates-relief-due-to-coronavirus-covid-19 The table shows Government contribution, required employer contribution and amount employee receives where the employee is furloughed 100% of the time. Wage caps are proportional to the hours not worked.
Time to Pay - HMRC have new powers to offer extended time to pay. In our experience a quick phone call should be sufficient to secure time and in most cases they will defer payment and just ask for a call back in 3 months.
LocalBusiness Authority Advice Discretionary Grants Fund - this is new and has only been out a few weeks. This Professional business Services is available to those businesses Free Initial Consultation SEISS - Self Employment Income Accounting Support Scheme not eligible for advice to help set Sole Trader We offer a freeongoing initial TSA Accountants Bristol Ltd otheryou grant schemes but have significant on the path to This scheme is being extended until 19 costs. Further details can be found here. SelfOctober Employed property to assess 124 Gloucester Road growth and success. consultation 2020. You’ll be able to claim a second and final Limited Company https://www.gov.uk/guidance/apply-for-the-coronathe level of Patchway This is included grant from 17 August 2020 when the online service virus-local-authority-discretionary-grants-fund Partnership Bristol within our services as accountancy services will be available. Contractor you require. BS34 5BP Universalstandard. credit - If you aren't eligible for anything We will work out your eligibility the same way as else, it's worth calling Universal credit to see if you the first grant. If you make a claim for the second are eligible. grant you will have to confirm your business has been adversely affected on or after 14 July 2020. Receipt of funds for the above schemes - please be aware that whilst we can confirm when we This grant will be a taxable grant worth 70% of have submitted furlough information etc. We've no your average monthly trading profits, paid out in control over when HMRC will make the payment a single installment covering a further 3 months’ to you. HMRC will occasionally undertake further worth of profits, and capped at £6,570 in total. checks, involving a call to us as the agent or to the client directly just to confirm that the claim is You can claim for the second and final grant even if legitimate and this can add additional time to them you did not make a claim for the first grant. paying out. HMRC are extremely busy and so it can be difficult to get hold of them as well. The online service for the second part of the However, HMRC have been pretty swift in scheme is not available yet, but we will send a processing payments, with furlough payments further update when it becomes available. typically taking 6 days in most cases. Due to the large volume of claims, it may be quicker to call Bounceback loans - these are still available on them directly as we may not be able to call very favourable terms. Please refer to my previous immediately due to our workload and these update or contact your business bank. payments are often urgently needed. Self-assessment payments due in July can be deferred until the 31st March, no action is necessary.
Thank you again for your patience, understanding and support during these difficult times and I will send another update as soon as there is more news. Stay safe.
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