LATEST NEWS! Grant for Self Employment due to coronavirus– here’s a summary of what’s available.
1. WHO will it be paid to: All those who are Self-Employed (or self-employed partnership) and have done a Tax Return for the Year to 31 March 2019 and are adversely affected by the coronvirus.
2. HOW MUCH will be paid: a Taxable Grant worth up to 80% of three month’s PROFIT (based on average over last 3 years)
3. WHEN will it be paid: From June 2020
4. Limited Companies: If you use Dividends as well as Salary to pay yourself through the PAYE system you can use the ‘furlough’ system job retention scheme but you will only be reimbursed for your salary payments.
5. What do I do to claim it: The Treasury has asked that no one contact HMRC and said the government would contact people directly.
Please contact Laurence, Andrea or me for Tax or Accounting advice – we are here to help you (financially) through this crisis. We will always look at ways to save you tax. We can deal with you remotely and still meet all your requirements. Regards Gerry O’Boyle 028 91 469054 or firstname.lastname@example.org