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SEISS and the long-term status of the self-employed
By Howard Gross, Society of Professional Accountants chairman The self-employed income support scheme (SEISS) has been vital for many sole traders and individuals operating in partnerships during the coronavirus pandemic, but how many considered the potential...
Life after the furlough scheme
By Paul Weber, Society of Professional Accountants board member The end of the furlough scheme is nigh. Chancellor Rishi Sunak admits it “cannot and should not go on forever” and will be phased out completely by 31 October 2020, barring a second spike in the number of...
Summer Statements Update by Howard Gross
. Parental child leave HMRC have updated the guidance for the Self-Employment Income Support Scheme (SEISS). for self-employed parents who did not submit a tax return for 2018/2019, or whose trading profits in 2018/19 were less than their other income, and were...
The Chancellor’s statement 08 July 2020
Today the Chancellor, Rishi Sunak, announced the Eat Out to Help Out scheme, as part of the Plan for Jobs 2020 update. The scheme will support over 129,000 businesses in the hospitality industry. Diners can get 50% off meals and non-alcoholic drinks, up to £10 per...
SEISS – Eligibilty criteria
You must confirm you meet the eligibility criteria and you may have already checked if you are eligible using the HMRC eligibility checker. The relevant eligibility criteria are: • you traded in the tax year 2018/19 and filed your self-assessment tax return on or...
Budget 2020 – A few points by Howard Gross, our chairman
Loan Charge The government has confirmed that it will implement all but one of the recommendations made by Sir Amyas Morse in his review of the loan charge rules. The legislation will have effect retrospectively to 5 April 2019, which is the relevant date for the...
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