HLAS

The numerous changes in the method of calculating CJRS furlough grants will no doubt have resulted in errors by some employers. Remember that you are required to tell HMRC about overclaimed CJRS grants as part of your next claim. You will be asked when making your claim whether you need to adjust the amount down to take account of a previous overclaim. Your new claim amount will be reduced to reflect this. You should keep a record of this adjustment for 6 years. You should also be aware that HMRC may levy a penalty even if the error is careless [...]

For the month of‌‌ July the CJRS Furlough grant support from the government via HMRC reduces to 70% of the employee’s usual pay for hours not worked. This is despite the fact that “Freedom Day” in England has been delayed four weeks to 19 July 2021, and now called “Terminus Day”. The government support to employers will then reduce to 60% in August and September.

“The best way to predict the future is to create it!” - Abraham Lincoln If you want to be successful in business you must believe in your success. The aim of this section is to help you create a picture of what your business will be like when it is fully “complete”, and to set targets and monitor how you are doing towards your goals. One Page Analyst A one page showing the movements on profit when flexing key variables. Download 5 Year Plan A 5-year plan spreadsheet which you can use to [...]

If you are working in a job role that entitles you to a company car as a `benefit-in-kind`,  you’ll want to know how much your company car tax will amount to. Generally, company cars that are low or zero-emissions – such as electric cars and hybrids – have some of the lowest company car tax rates. In this article, we detail how company car tax is calculated. The company car tax calculator Company car tax is based on two figures: The car’s P11D value: list price + VAT, and delivery charges. Remember, your vehicle’s P11D value is not the same [...]

Some employers offer non-monetary perks called benefits-in-kind. Often these are detailed up-front within job vacancies and include work phones, private health insurance, travel & entertainment expenses, and company cars. All benefits-in-kind are taxed to some degree – under benefits-in-kind (BiK) tax. In this article, we detail how benefits-in-kind tax affects company cars. Which company cars are subject to benefits-in-kind tax? Any employee using a company car must pay company car tax or benefits in kind tax. Though a few conditions lower the cost of benefits-in-kind tax for company cars, including: You contribute an amount; Your company car has low CO2 [...]

Countries rated as red, amber or green for Coronavirus (COVID-19) and the rules you must follow to enter England have been updated. What you must do when you arrive in England from abroad depends on where you have been in the 10 days before you arrive. The webpage below lists countries and territories as red, amber or green and tells you what you must do if you have been in those countries or territories. See: Red, amber and green list rules for entering England - GOV.UK (www.gov.uk)

Demonstrating your COVID-19 vaccination status allows you to show others that you’ve had a full course of the COVID-19 vaccine when travelling abroad to some countries or territories. A full course is currently 2 doses of any approved vaccine. COVID-19 vaccination status is available to people who live in England and are registered with a GP. You can get your vaccination status in digital or paper format. See: Demonstrating your COVID-19 vaccination status when travelling abroad - GOV.UK (www.gov.uk) 

The Department of Health and Social Care (DHSC) is aware of private-sector (non-NHS) providers who are undergoing UKAS accreditation in order to provide COVID-19 testing services to companies or individuals. Individuals with coronavirus symptoms should self-isolate immediately and get an NHS Test and Trace test to check if they have coronavirus. Free NHS testing is for individuals with symptoms or who have been advised to take a test by a medical practitioner or a public agency. Individuals who do not fall into these categories and require a test for other reasons, such as fit-to-fly, can contact providers for general COVID-19 testing below to book a private [...]

The VAT deferral new payment scheme is open for all businesses who deferred paying VAT due between 20 March and 30 June 2020 and were unable to pay in full by 31 March 2021. 21 June is the last day you can join this scheme. If you join by this date you can apply to spread these payments across up to eight instalments. You can join online here:  Pay VAT deferred due to coronavirus (COVID-19) - GOV.UK (www.gov.uk) If you have deferred paying VAT, you may be charged a 5% penalty and/or interest if you do not join the VAT [...]

The UK Government will continue to pay 80% of your furloughed employees’ usual wages for the hours not worked, up to a cap of £2,500 per month, to the end of June. In July, CJRS grants will cover 70% of employees' usual wages for the hours not worked, up to a cap of £2,187.50. In August and September, this will then reduce to 60% of employees’ usual wages up to a cap of £1,875. You will need to pay the 10% difference in July, and 20% in August and September, so that you continue to pay your furloughed employees at [...]