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Job Retention Scheme FAQ Part 2

Under the Coronavirus Job Retention Scheme, all UK employers with a PAYE scheme will be able to access support to continue paying part of their employees’ salary for those that would otherwise have been laid off during this crisis. Information in this article based on information as of 31 March 2020. Previous answers from 29 […]

Read more April 6th, 2020

Job Retention Scheme FAQ

Under the Coronavirus Job Retention Scheme, all UK employers with a PAYE scheme will be able to access support to continue paying part of their employees’ salary for those that would otherwise have been laid off during this crisis. Information in this article based on information as of 29 March 2020. Further answers from 31 […]

Read more April 6th, 2020

Coronavirus Video Resources

We’ve compiled all the recordings for our Coronavirus webinars on this one page for ease of use. Please be aware that some things may have changed since the release of the videos. If you have any questions about any of the content, please contact us. Disclaimer: The information provided by Shapcotts Accountants in this video […]

Read more March 31st, 2020

Coronavirus Job Retention Scheme

PLEASE NOTE: THIS GUIDANCE IS STILL INCOMPLETE AND THE GOVERNMENT NEED TO ISSUE FURTHER BRIEFING NOTES ON THE DETAIL. Introduction Under the Coronavirus Job Retention Scheme (CJRS), all UK employers with a PAYE scheme will be able to access support to continue paying part of their employees’ salary for those that would otherwise have been […]

Read more March 26th, 2020

COVID-19 Business Support Update 23 March

Key Government Resources Links You can find an updating list of official resource links here. Who is a keyworker? The current list of keyworkers includes the following: Health and Social care (doctors, nurses, social workers, care workers, etc.) Education and Childcare (teachers, social workers, childcarers, etc.) Key Public Services (staff in the justice system, religious […]

Read more March 23rd, 2020

Support Available For Businesses During COVID-19

Support for businesses who are paying sick pay to employees: The Government will pass legislation shortly to allow small and medium-sized businesses and employers to reclaim Statutory Sick Pay (SSP) paid for sickness absence due to COVID-19. The eligibility criteria for the scheme will be as follows: this refund will cover up to 2 weeks’ […]

Read more March 19th, 2020

Budget Summary Spring 2020

Chancellor Rishi Sunak presented his first Budget on Wednesday 11 March 2020. In his speech, he stated that ‘We are at the beginning of a new era in this country. We have the freedom and resources to decide our own future’. He also said ‘It is a Budget of a Government that gets things done’. […]

Read more March 12th, 2020

Changes To National Minimum Wage April 2020

National Minimum Wage (NMW) and National Living Wages (NLW) increased from 1 April 2020. Please see the table below for the new rates: Employers should review the ages of employees to ensure they are paid the correct gross pay when carrying out your payroll procedures. At Shapcotts we check an employee’s age as part of […]

Read more February 25th, 2020

Changes To Disguised Remuneration Loan Charge

The independent loan charge review, conducted by Sir Amyas Morse, was published on 20 December, having been delayed due to the general election. The loan charge was introduced to collect tax from individuals who had benefited from schemes devised to avoid PAYE and National Insurance. The date that the loan was made to the individual […]

Read more February 10th, 2020

Early Electronic Payment Deadline For PAYE

In December the electronic payment deadline for PAYE falls on Sunday 22nd. To make sure your payment reaches HMRC in time, you need to have cleared funds in HMRC’s account by the 20th December, unless you are able to arrange a Faster Payment. It is your responsibility to make sure payments are made on time […]

Read more December 11th, 2019

Collected Unpaid Tax For 2018/19 Through Your PAYE Coding

Under certain circumstances, it is possible to arrange the collection of unpaid tax through your PAYE coding rather than making a balancing payment on 31 January. This will depend upon the amount outstanding and the amount of income taxable under PAYE. There is a further condition that the return is submitted to HMRC online before […]

Read more November 11th, 2019

Off-Payroll Working Rules (IR35) Going Ahead

The draft Finance Bill clauses issued for consultation on 11 July include legislation to extend the “off-payroll” working rules to the private sector from 6 April 2020. These changes will have significant implications for workers providing their services through personal service companies and also the end-user organisations that engage such workers. End users will be […]

Read more August 8th, 2019

Using a PAYE Settlement Agreement To Pay Some Of Your Employee’s Tax

PAYE settlement agreements (PSAs) are arrangements under which an employer can settle the income tax and National Insurance liabilities on benefits in kind and expenses payments provided to employees and officeholders. Setting up a PSA avoids passing on an unexpected, and potentially demotivating, tax charge to employees. Where a PSA has been agreed with HMRC, […]

Read more July 12th, 2019

Changes To National Minimum Wage April 2019

National Minimum Wage (NMW) and National Living Wages (NLW) increased from 1 April 2019. Please see the table below for the new rates: Employers should review the ages of employees to ensure they are paid the correct gross pay when carrying out your payroll procedures. At Shapcotts we check an employee’s age as part of […]

Read more April 24th, 2019

Disguised Remuneration Loan Charge Starts April 2019

This new charge will apply to certain loans to directors and employees that are still outstanding at 5 April 2019 and new arrangements put in place after that date. The charge will affect arrangements involving loans made via Employee Benefit Trusts (EBTs) and similar disguised remuneration schemes adjudged by HMRC and the courts to be […]

Read more April 9th, 2019