· Basic rate of income tax will be reduced from current 20% to 19% by the end of this parliament term in 2024. · Fuel duty on petrol and diesel will be reduced by 5p a litre from 6 pm today until March 2023. · National Insurance threshold will be increased to align with personal allowance of
CJRS has been extended to September 2021 as it is. From July 2021 (10%), August (20%) and September (20%), employer has to start contributing. SEISS grant has also been extended to September 2021.Tax payers who managed to file their personal tax returns relating to FY 2019/20 till midnight of 02/03/2021 will qualify here afterwards. SDLT
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