The team at Smarter Accounting have been working hard to support our clients during these challenging times.  We’re all comfortable working remotely and collaborating using the latest tech from home. This is enabling us to support both existing and new client queries and so if you wish to discuss any issues or concerns, please don’t hesitate to contact us.

The last couple of days has seen a flurry of activity within the Government and HMRC.  This has clarified some of the support that businesses can expect and has made some changes within the detailed guidance relating to Job Retention and Self Employed Support Schemes as follows:

  • Coronavirus Job Retention Scheme
    • We are expecting that claims for furloughed staff can be made from Monday 20 April
      • We will make these claim on your behalf. We can process claims where we are your appointed agent. Where we are not your appointed agent there may be a delay. In the majority of cases will be your appointed agent and we are currently checking where those where we are not agents
      • We will produce a claim at the time of running your April payroll and will include any furlough claims for March and April
      • We will need you to approve your claim and provide backup paperwork as required. We will advise further on this, but will include copies of Furlough letters to staff, so as we have backup on file should HMRC look to audit claims
      • We are told that payments will be made within 6 business days
    • There has been a major change around dates. The original guidance stated that those staff that were on payroll as at 28 February could qualify to be furloughed. This, as we advised many clients, was ambiguous. It was announced yesterday that this date has been extended to 19 March. This, in principle, looks great and looks to have dealt with a number of newly appointed staff between 28 February and 19 March. However, another clause was added and that in order to qualify, such staff had to be included in an RTI submission on or before 19 March. This is a technical process and if payrolls are run monthly at the end of month, means that the employees this date extension is trying to help will not qualify. In fact, some staff that we previously thought qualified for the scheme will not now qualify. This is a shocking development and one that we will be contacting the Government on to appeal for further change.
    • Further information can be found on the gov.uk website here >
  • Self Employed Income Support Scheme – Not many changes here, still ambiguous in areas, but we expect clarification as the scheme goes live over the coming months.
    • We are now told that HMRC will write to those that qualify by min May. There will then be a grant claim process, which we will help our clients through. HMRC are currently saying that payments under the scheme will be made early June
    • Reminder – if you have not yet submitted a 2018/19 self assessment tax return then you have until the 23 April to get this done and still qualify for the scheme. If you want help from us, then please contact us straight away. We can still get things done.
    • Further information can be found on the gov.uk website here >

This is just a brief update. If you want to discuss any issues, or have queries, please don’t hesitate to call or email us.

Best wishes and stay safe.