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Final part of Job Retention Scheme - Then what?
Emily Kilshaw • October 2, 2020
What are the options after JRS finishes?
The final month of the job retention scheme is now upon us. The government will pay up to 60% of the employees wages for the period of time they do not work and are on furlough. After that the Job Support Scheme will start from 1st November. The employee must be working for a minimum of 1/3 of their 'normal' hours, which the employer will pay for. The government and the employer will then split the remaining 2/3 into 3 and will pay 1/3 each, with a reduction in the employees wage by the final 1/3. For further information please contact me or review HMRC website:
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/921389/Job_Support_Scheme_Factsheet.pdf
The new deemed employment rules for IR35 have now come into play. If you have a personal service company and have been caught by these new rules and you need help filing your companies accounts & tax return, please get in touch.
The reverse charge for VAT came in on the 1st March 2021 for the construction industry. Are you ready or do you need help with this change. Contact us to find out more & how we can help get you underway.
HMRC has postponed the £100 penalty for late submission of 2019/20 personal tax returns, as long as the return is submitted by 28th February 2021. However they will still charge interest on any tax which is due. Therefore, if you haven't already done your personal tax return, the sooner you get it done and submitted the better. Contact us for advice and assistance on your personal tax return.
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The new deemed employment rules for IR35 have now come into play. If you have a personal service company and have been caught by these new rules and you need help filing your companies accounts & tax return, please get in touch.
The reverse charge for VAT came in on the 1st March 2021 for the construction industry. Are you ready or do you need help with this change. Contact us to find out more & how we can help get you underway.
