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Self Employment

New Personal Service Company Rules Start This Month

The “off-payroll” working rules that apply to certain workers supplying their services to clients via their own personal service companies start from 6 April 2021. Under this new regime end user businesses will be required to determine whether that individual would have been treated as an employee or not if directly engaged. This will be […]

Read more April 13th, 2021

Third Grant For SEISS

The third grant for SEISS is now open. To make a claim for the grant, your business must have been impacted by coronavirus on or after 1 November 2020. You can make a claim for the third grant if you are eligible, even if you did not make a claim for the first or second. […]

Read more December 9th, 2020

Make A Claim If You Are Working From Home

With more of us working from home there is good news from HMRC that employees can now make a claim for tax relief to cover some of their costs while they are working remotely from home. The previous rule for employees was that there had to be a home working arrangement with their employer under […]

Read more December 9th, 2020

New Penalties For Overclaimed CJRS, SEISS And “Eat Out To Help Out” Grants

HMRC have announced that they will be imposing penalties of up to 100% of the amounts overclaimed on businesses so make sure that your claims are correct. The penalties depend on whether or not the overclaim is the result of a deliberate error and whether or not the disclosure was prompted by HMRC. The penalty […]

Read more December 9th, 2020

Extention Of Self-Employed Income Support Scheme

The Self-Employment Income Support Scheme (SEISS) allowed you to claim a first taxable grant. Applications for the first grant closed on 13 July 2020. The second taxable grant is worth 70% of your average monthly trading profits, paid out in a single instalment covering 3 months’ worth of profits, and capped at £6,570 in total. […]

Read more October 16th, 2020

Job Support Scheme Starts 1 November

The Chancellor has announced a new 6 month Job Support Scheme to help businesses and employees survive the winter months. We are still awaiting full details of the scheme that will replace the current “flexible furlough” scheme but the main features are as follows:- Employers of all sizes will be eligible for the new scheme […]

Read more October 15th, 2020

Self-Employed Income Support Scheme Update

The existing self-employed income support scheme (SEISS) grant is to be extended on the same basis as the job support scheme The new Government scheme will last for six months to 30 April 2021. An initial taxable grant will be provided to those who are currently eligible for SEISS and are continuing to actively trade […]

Read more September 25th, 2020

Property Business Owners Liable To Class 2 NICs

Class 2 National Insurance Contributions (NICs) are currently paid at the rate of £3.05 per week by self-employed earners. A person who is liable to Income Tax on the profits arising from the receipt of property rental income will only be a self-employed earner for NICs purposes if the level of activities carried out amounts […]

Read more September 7th, 2020

Summer Economic Update

On Wednesday 8th July, the Chancellor Rishi Sunak made a speech entitled “Summer Economic Update” where he unveiled further Government supports and he unveiled the Government’s plan for jobs which he described as the “Second phase in the Government’s economic response to the crisis.” Here are the highlights and we will update you on the […]

Read more July 9th, 2020

What Affects The Self-Employment Income Support Scheme?

The Self-Employment Income Support Scheme currently allows you to claim a taxable grant worth 80% of your average monthly trading profits, paid out in a single instalment covering 3 months’ worth of profits, and capped at £7,500 in total. If you are self-employed or member of a partnership find out how your circumstances can affect […]

Read more June 15th, 2020

Extension Of Self-Employed Support Scheme

Alongside the announcement of changes to the Job Retention Scheme on 29 May 2020, the Chancellor also provided detail of the extension to the Self-Employed Income Support Scheme (SEISS). Self-employed people can continue to apply for the first grant up until 13 July 2020 which is for 80% of their average monthly trading profits. This […]

Read more June 2nd, 2020

Self-Employed Deferment Of Second Payment On Account

Option for self-employed to defer their second payment on account due 31 July 2020. Choose how and when you can delay making your second payment on account for the 2019 to 2020 tax year. You have the option to defer your second payment on account if you are: registered in the UK for Self-Assessment and […]

Read more May 18th, 2020

Check If You Can Claim A Grant Through SEISS

HMRC updated their guidance 4 May to outline the process for applying for the Self-Employment Income Support Scheme (SEISS). Full details: https://www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme The scheme will allow you to claim a taxable grant of 80% of your average monthly trading profits, paid out in a single instalment covering 3 months, and capped at £7,500 altogether. You […]

Read more May 7th, 2020

Opening A Government Gateway Account For SEISS

HMRC have issued some more details relating to the claims for the Self-Employed Income Support Scheme (SEISS). The latest guidance was issued on 1 May. Full details on the SEISS can be found on our article here. As with many HMRC “guidance notes” issued recently, these tend to be quite basic, and, unfortunately, leave many […]

Read more May 6th, 2020

HMRC Update Their Guidance On The SEISS Scheme

The following text is extracted from HMRC website regarding the Self-Employment Income Support Scheme (SEISS): Who can claim? You can claim if you are a self-employed individual or a member of a partnership and: you carry on a trade which has been adversely affected by coronavirus you traded in the tax year 2018 to 2019 […]

Read more May 6th, 2020