HMRC introduces penalty for SEISS grant abuse
As the fourth self employment income support scheme (SEISS) ramps up for applications, HMRC has confirmed the penalty regime with harsh fines for abuse of the financial support. An overclaimed SEISS grant includes any amount of grant which the self employed were not entitled to receive or was more than the amount HMRC said the […]
Changes to the Coronavirus Business Interruption Loan and Bounce Back Loan Schemes
Coronavirus Business Interruption Loan UK Government intends to give Coronavirus Business Interruption Loan Scheme lenders the ability to extend the length of loans from a maximum of six years to ten years if it will help businesses to repay the loan. In addition, the Chancellor also announced he would be extending applications for the government’s […]
Changes to the Self Employment Income Support Scheme (SEISS)
The Government is continuing its support for millions of self-employed individuals by extending the Self Employment Income Support Scheme Grant (SEISS). An initial taxable grant will be provided to those who are currently eligible for SEISS and are continuing to actively trade but face reduced demand due to coronavirus. The initial lump sum will cover three months’ […]
New package to support and enforce self-isolation
People will be required by law to self-isolate from 28 September, supported by payment of £500 for those on lower incomes who cannot work from home and have lost income as a result. New fines for those breaching self-isolation rules will start at £1,000 – bringing this in line with the penalty for breaking quarantine […]
Companies House to restart the voluntary strike off process
From 10 September 2020, Companies House will restart the process for companies that have applied for voluntary strike off. In March 2020, Companies House introduced temporary easement measures to suspend voluntary strike off action in response to coronavirus (COVID-19) and Companies House has reviewed these measures each month. Following our July review, this temporary measure […]