0330 133 1643
contact@balloonaccounting.co.uk
BH7 7BG, Bournemouth, UK

Category: Covid-19

with you on the journey to a brighter future

Tools image

Chancellor unveils new Job Support Scheme

The new Job Support Scheme The Chancellor Rishi Sunak has outlined additional government support to provide certainty to businesses and workers impacted by coronavirus across the UK. The package of measures, which applies to all regions and nations of the UK, includes: Support for workers and employers A new Job Support Scheme will be introduced…
Read more

Umbrella image

Maintaining your NIC contributions record during Covid-19

Maintaining your NIC contributions record during Covid-19 The Covid-19 pandemic has meant that many people will suffer a reduction in income in 2020/21. Not all individuals are eligible for support under the Coronavirus Job Retention Scheme or the Self-Employment Income Support scheme, and those who are eligible for the grants will not generally receive their…
Read more

Driveway

Are the Coronavirus payments taxable ?

Tax implications of Covid-19 support payments Various support payments are available to individuals and businesses to help mitigate the effects of the Covid-19 pandemic. Are the payments taxable and how should they be treated? Payments under the Coronavirus Job Retention Scheme? Grants payments made under the Coronavirus Job Retention Scheme (CJRS) for fully furloughed and…
Read more

Hand image

SEISS – Second Grant

Claiming the second grant under the SEISS Claims for the second grant under the Self-Employment Income Support Scheme (SEISS) can be made from 17 August 2020 onwards. Who can claim? A self-employed individual or member of a partnership who meets the eligibility criteria and whose business has been adversely affected by Coronavirus on or after…
Read more

Summer Picture

Government Summer Statement – Further Coronavirus help for business and individuals

Government Summer Statement – Further Coronavirus help for business and individuals On 8th July the Chancellow announced some further help for businesses and individuals. Here is a summary. Job Retention Bonus The government will pay a one-off £1000 payment to employers for every furloughed employee retained to the end of January 2021 This is conditional…
Read more

Stack of pencils

Seven important things to know about the new flexible furlough rules

1. Who can I place on flexible furlough? From 1 July 2020 only employees that you as an employer have claimed for previously will be eligible for more grants under the Job Retention Scheme. This means they must have previously been furloughed for at least three consecutive weeks taking place any time between 1 March…
Read more

Coronavirus Closeup

Flexible Furlough Scheme – 1st July 2020

Flexible Furlough Scheme – 1st July 2020 There are changes being made to the furlough scheme with effect from 1st July and that means that if you are an employer you need to be aware of how you can bring staff back to work and claim the furloughed grant for the hours they do not…
Read more

Coronavirus Closeup

Job Retention Scheme and Self Employed Income Support Scheme – Update 1st June 2020

On Friday (29th May) the Chancellor announced some changes to the Coronavirus Job Retention Scheme and the Self employed Income Support Scheme. Here are the details: Coronavirus Job Retention Scheme (CJRS) – Important Update 29th May 2020 The Chancellor has announced three changes to the job retention scheme: 1. From 1‌‌ July 2020, the scheme…
Read more

Coins

Discretionary Grant Fund

Discretionary Grant Fund The government have recently announced an additional fund of up to £617 million for local authorities to assist businesses that missed out on the earlier grant funding for shops, hotels, hospitality etc.. This additional fund is aimed at small businesses with ongoing fixed property-related costs. The government are asking local authorities to…
Read more

Exasperated man

How to calculate Statutory Redundancy Pay

How to calculate statutory redundancy pay While some help is available to employers through the Coronavirus Job Retention scheme to help them keep staff on during the COVID-19 pandemic, in some cases, it may not be possible to avoid making staff redundant. Where staff are made redundant and have at least two years’ continuous service,…
Read more

Scroll Up