Budget Round Up including Fourth SEISS Details

Budget Round Up including Fourth SEISS Details

Yesterday the Chancellor gave us his budget. Key for many is the detail of the fourth SEISS grant. A bit of a double-edged sword: the good news is the addition of the newly self-employed who started trading during 2019/20. The inclusion of 2019/20 as a fourth year in...

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CHANCELLOR INCREASES FINANCIAL SUPPORT

CHANCELLOR INCREASES FINANCIAL SUPPORT

Yesterday, the government announced that the third SEISS grant will be doubled from 20% to 40%, meaning the maximum grant will increase from £1,875 to £3,750.  This grant will have the same eligibility criteria as the earlier SEISS grants, for those who are continuing...

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WINTER ECONOMY PLAN

WINTER ECONOMY PLAN

Today the Chancellor announced further measures to aid the economy due to the ongoing ill effects of Covid-19.  Four of these are summarised below: 1.Extension to the Self-Employment Income Support Scheme (SEISS) There are to be two further taxable grants, which have...

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SELF-EMPLOYMENT INCOME SUPPORT SCHEME PART II

SELF-EMPLOYMENT INCOME SUPPORT SCHEME PART II

Good news for many of our clients: there will be a second tranche to the Self-Employment Income Support Scheme (SEISS).  The eligibility criteria are exactly the same as the first grant.  The amount this time, however, will be based on 70% of average monthly trading...

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BOUNCE BACK LOAN

BOUNCE BACK LOAN

The “bounce back loan” initiative is a 100% government guaranteed bank loan that you can apply for between £2,000 and up to 25% of turnover or £50,000 maximum. Your turnover figure is fees before expenses which is found in box 15 on page SEF1 on your tax return or the...

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