Job Support Scheme: Effective from 1st November 2020, the employer has to provide at least 20% of usual working hours to the employee. Out of 80% unworked hours, 61.67% will be contributed by the Government up to a ceiling of £1,541.75. The employer has to contribute minimum 5% of the unworked hours. In substance, around
If you want to protect economy, better protect jobs. New updates! 1. Jobs Support Scheme (JSS): In order to support viable jobs, Government will contribute 1/3rd of the wages relating to unworked usual hours. Employer has to pay minimum 1/3rd of the pay relating to usual hours. Government will only contribute maximum £679.92 per month.
Few highlights of 8th July 2020 speech Vat on Hospitality and Tourism Sector will reduce to 5% from existing 20% from 15th July 2020 till 12th January 2021. This will not be applicable to sell of alcohol. Stamp Duty Land Tax : If you purchase your first home from 8th July 2020 till 31st March
CJRS – From June 2020 till October 2020 June and July 2020: Employers can claim 80% of wages up to a ceiling of £2,500 and associated Employer National Insurance and Employer Pension Contribution. Hence , there is no change for this period compare to previous claims.August 2020: Employers can only claim 80% of wages up
Employers can bring back furloughed employees to work from 01/07/2020. Employers and employees can decide on timing of work. Normal hours not worked can still be claimed as Furlough up to a minimum period of 1 week. From 30/06/2020, no new employees can be furloughed. Previously furloughed employees can still be furloughed though if need
The Bounce Back Loan scheme will help small and medium-sized businesses to borrow between £2,000 and £50,000. The government will guarantee 100% of the loan and there won’t be any fees or interest to pay for the first 12 months. Loan terms will be up to 6 years. No repayments will be due during the
Please watch the video to know about how yourself and your business can claim current relief program announced by the government of United Kingdom as individuals and business large and small are affected by this pandemic. Please note the video is in Nepalese language.
Value-Added Tax (VAT) is a tax on consumer spending. It is collected by VAT-registered businesses on their supplies of goods and services for consideration from their customers. Generally, each such businesses in the chain of supply from the manufacturer through to retailer charges VAT on sales and is entitled to deduct from this amount the