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Latest Updates from HMRC

Latest Updates from HMRC

New legislation – redundancy payments  New legislation came into force on 31 July 2020 to ensure that furloughed employees will receive statutory redundancy payments based on 100% of their normal pay, not at the reduced furlough rate. Furlough...

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July 2020 Self-Assessment Payment on Account

July 2020 Self-Assessment Payment on Account

In measures to help small businesses through the COVID-19 pandemic, HMRC announced that the usual 31 July 2020 self-assessment payment on account can be deferred to 31 January 2021. How does it work? You have to make 2 payments on account every...

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VAT cut kicks in for certain sectors

VAT cut kicks in for certain sectors

A temporary cut to the standard rate of VAT for businesses in the food, drink, hospitality and tourism sectors has come into force.  Chancellor Rishi Sunak used last week's economic update to announce the measure, which reduces the main rate from...

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9 big reasons to get your accounts completed NOW!

9 big reasons to get your accounts completed NOW!

One of the most important times of the year for any self-employed person or company director is January - tax month! It can be super stressful if you don't get your accounts sorted in time for the new year - it really is a case of ' the sooner you...

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What does the Chancellor’s mini budget mean for you?

What does the Chancellor’s mini budget mean for you?

We spent a large part of yesterday afternoon listening and reflecting on the budget update from the chancellor. As ever, statements from the government regarding personal and business finances can be difficult to grasp, so we've broken it down for...

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Self Employed Income Support Scheme Update

Self Employed Income Support Scheme Update

The Self Employed Income Support Scheme  (SEISS) allows you to claim a taxable grant of 80% of your average monthly trading profits capped at £7,500 covering 3 months. Unlike the Coronavirus Job Retention Scheme(CJRS), if you receive the grant you...

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NHS Test and Trace: Workplace Guidance

NHS Test and Trace: Workplace Guidance

The NHS test and trace service forms a central part of the government’s coronavirus recovery strategy, which seeks to help the nation return to normal as soon as possible for as many people as possible, in a way that is safe and protects the NHS...

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New Flexible Furlough Letter

New Flexible Furlough Letter

From the 1st July, you can start to bring back furloughed staff part time and use the Flexible Furlough Scheme to cover some of their wages. There is no need for a new contract between you and your employees, although the guidance says that the...

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Flexible Furlough – Government Guidance

Flexible Furlough – Government Guidance

Late on Friday the government released further detail on how the new ‘flexible furlough’ will work from 1 July. Here’s a summary of the key detail. You can also access the full government guidance here. New flexibility From 1 July, you can bring...

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Important Update - COVID 19

Our office is temporarily closed. We are all working from home and can be contacted by email. Our contact details are: Christie@jolliffes-accounting.co.uk; Lisa@jolliffes-accounting.co.uk; Helen@jolliffes-accounting.co.uk (Payroll); Jackie@jolliffes-accounting.co.uk (Book Keeping) and Adrienne@jolliffes-accounting.co.uk (Book Keeping)