Chancellor, Rishi Sunak, has provided a summer economic update in light of the Covid-19 pandemic. The main tax changes announced that apply to Northern Ireland are detailed in this article.
Furlough Process – A Case Study
Key Dates in the Furlough Process
Changes to Corporate Insolvency and Governance Bill approved by NI Assembly. An outline of measures is provided by Insolvency Practitioner, Joan Rice, Harbinson Mulholland
The Corporate Insolvency and Governance Bill was approved in the Northern Ireland Assembly on 1st June 2020. The Bill is aimed at providing additional support to businesses through this period of financial instability caused by the COVID19 pandemic. It extends Northern Ireland’s legislative provisions to match the emergency measures available in Great Britain. Measures included …
CORONA VIRUS SUPPORT SCHEMES – IMMINENT DEADLINES
We would like to remind you of the following important deadlines: · The final date by which an employer can furlough an employee and claim the Coronavirus Job Retention Scheme (“CJSR”) for the first time will be this Wednesday 10th June 2020 · The CJRS scheme will be closed to new entrants from 30th June …
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REVISIONS TO THE CORONAVIRUS JOB RETENTION SCHEME (CJRS) 29 MAY 2020
The Chancellor announced revisions to the CJRS on 29 May 2020. As of 24 May 2020 the scheme has been used by 1 million employers protecting around 8.4 million jobs at a total cost of £15 billion. The changes outlined are designed to step the economy back to a recovery and are based on: Flexible …
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Tuesday 19th May – Small Business Support Grant Scheme
Closure of the Small Business Support Grant Scheme Members are reminded that if they think they are eligible for the Scheme (NAV of £15,000 or below) they have until the above time on Wednesday 20th May at 23:59 (tomorrow) to submit their details to the Department for the Economy.The online portal for submission of details …
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SELF EMPLOYED: INCOME SUPPORT SCHEME UPDATE
HMRC has now updated its guidance concerning the support for self-employed earners. For the recent update click on this Eligibility Calculator is that there is now a link where it can be checked if a claim if eligible. Points to note are: To check, the self-employed earner will need their Unique Taxpayer Reference (a 10 digit number) …
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Wednesday 13th May: Self-Employment Income Support Scheme OPENS
From 8am this morning self-employed individuals or members of partnerships whose business has been adversely affected by coronavirus will be able to apply for a Self-Employment Income Support Scheme (SEISS) grant worth 80% of their average monthly trading profits. From today, people will be able to make their claim on a specified date between 13-18 May, based on their Unique …
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Corona-virus Business Interruption Loan Scheme (CBILS) access broadened
From Monday 6 April the Coronavirus Business Interruption Loan Scheme (CBILS) has been opened up to all viable small businesses, i.e. not just to those who could not secure regular commercial lending. In addition under the scheme personal guarantees will not be taken for facilities below £250,000. On a practical level the British Business Bank …
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SME Support Forum Northern Ireland 