Coronavirus Statutory Sick Pay Rebate Scheme goes live

On 26 May, HMRC opened up its Statutory Sick Pay (SSP) rebate claim service. Eligible employers are able to recoup up to two weeks’ worth of SSP payments made to employees off work for coronavirus (COVID-19)-related reasons since 13 March 2020 (16 March 2020 if the employee was shielding). This is an ongoing scheme for […]

IPSE gives cautious welcome to extension of self-employed scheme

The government’s decision to extend COVID-19 support for self-employed workers has met with a cautious welcome from the Association of Independent Professionals and the Self-Employed (IPSE). Chancellor Rishi Sunak has announced that the Self-Employment Income Support Scheme (SEISS) will run again in August. In August, those eligible under the SEISS will be able to claim […]

Chancellor announces changes to Job Retention Scheme

Chancellor Rishi Sunak has announced changes to the government’s Job Retention Scheme (JRS), which will be slowly wound down over the next few months. The changes mean businesses will be able to bring furloughed employees back on a part-time basis from 1 July. Furloughed staff will continue to get 80% of their salary throughout until […]

Manufacturers call for coronavirus support

The coronavirus crisis has left many manufacturers on a cliff edge and in need of government intervention, Make UK has warned. The industry body says that as COVID-19 is putting a growing number of firms on the brink of collapse as production levels continue to fall. In response, Make UK is asking the government to […]

Over £31 billion borrowed through coronavirus schemes

Over £31 billion has been borrowed through the government-backed schemes that are providing business support during the coronavirus (COVID-19) crisis, according to the latest figures from the Treasury. More than 745,000 businesses have now accessed support through either the Bounce Back Loan Scheme (BBLS), the Coronavirus Business Interruption Loan Scheme (CBILS) or the Coronavirus Large […]

Strong economic recovery likely, but not certain

A strong economic recovery following the coronavirus pandemic is likely although many risks and uncertainties remain, according to a report from Oxford Economics. The report, which was commissioned by the ICAEW, predicts that the economy should return to growth in the second half of the year if the lockdown continues to be relaxed over the […]

HMRC delays VAT reverse charge on construction services

HMRC has announced a five-month delay to the introduction of the domestic VAT reverse charge for construction services, due to the impact of the coronavirus (COVID-19) pandemic on the sector. The change will now apply from 1 March 2021 and will overhaul the way VAT is payable on building and construction invoices as part of […]