Blog – Defacto-FD

The Fourth SEISS Grants Are Now Available

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The Self-Employment Income Support Scheme (SEISS) has provided a lifeline to self-employed individuals during the pandemic. The scheme is now offering its fourth grant and those eligible are able to apply.   The fourth self-employed grant is now available to claim via the Government website and must be claimed by 1 June 2021   All…

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Post-Covid Recovery Series: How to get your business in check

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There may be light at the end of the lockdown tunnel, and business is beginning to get back to some form of ‘normal’. But there is still a long road ahead for companies looking to find their feet in this new business landscape. Cash is the beating heart of any successful small business. It’s a…

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National Minimum Wage and the National Living Wage will increase from April 1 2021

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The National Minimum Wage and the National Living Wage will increase from 01 April 2021.   What is the National Minimum Wage (NMW) & National Living Wage (MLV)? You may have heard of the National Minimum Wage and wonder how this differs to the National Living Wage. The terms are often interchangeable, however the correct…

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The March 2021 Budget: Everything You Need To Know

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The 2021 budget took place on 3 March 2021. Chancellor Rishi Sunak announced that as a result of the global pandemic GDP shrank by 9.9% in 2020, the largest annual fall in 300 years according to the bank of England. He also discusses the forecasts and plans to get the economy to bounce back as…

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Change to HMRC Advisory Fuel Rates for Company Car Users

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The advisory fuel rates that apply from 1 March 2021 have been increased by 1p per mile for petrol and diesel vehicles, with engines of 1400-2000cc. The change to the advisory rates comes on the back of a slight increase in fuel prices over the last quarter. The previous rates, effective December 2020, can be…

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More Business Support Is Now Available

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Scottish Government has announced further support and grant funding to assist businesses who have been impacted by COVID -19. These are: an extension of Non-Domestic Rates Relief, the introduction of a Newly Self-Employed Hardship Fund and a new Mobile and Home-Based Close Contact Services Fund.   Non-Domestic Rates Relief Retail, hospitality, leisure, and aviation businesses…

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What you need to know about HMRC’s response to ICAS’ waiver of late filing penalties

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In a letter responding to a call from ICAS and other professional bodies to waive late filing penalties, HMRC has said that it does not currently have plans to do so.   The letter states that the request has been carefully considered but that the message regarding SA is simple.   HMRC encourages customers to complete their…

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HMRC plan to make employer furlough claims public

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In an attempt to reduce the number of fraudulent furlough claims, Chancellor Rishi Sunak has ordered HMRC to publish information about employers who submit claims. Information about employers who claim under the extended Coronavirus Job Retention Scheme (CJRS) over December 2020 and January 2021 will be made public   The government has made the decision…

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Covid-19- SEISS Portal reopens today but new rules might impact on ability to claim

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The portal for the 3rd grant under the Self Employed  Income Support Scheme (SEISS) opens today but the rules on who is eligible to claim have changed.  Claimants need to carefully consider if they are eligible. In the first 2 grants taxpayers had to confirm that their business had been adversely affected by COVID. Now, for…

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Self-employment income support scheme (SEISS) – claiming your grant

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The Chancellor has announced that the Self Employment Income Support Scheme (SEISS) will be extended, with two further grants. One for the 3 month period covering November 2020 to January 2021 and another for February 2021 to April 2021.   Who can apply? You can apply if you’re a self-employed individual or a member of…

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