COVID-19: Announcement Updates 27th March 2020

Updated: Apr 8

This is the update we’ve received directly from HMRC with information on the latest announcements. We’ve included links you can follow below as this is subject to change. Other than the ones being run by the banks, none of the schemes announced are live yet. HMRC will contact eligible customers by the beginning of June, inviting them to apply. Government advice is that anyone suffering hardship prior to these schemes becoming live, should apply for Univeral Credit.

You will note that the government have now backtracked and directors are now being treated as employees, but only for what is included on the payroll. Directors do not come under the Self-Employed rules.

Deferral of Self-Assessment Income Tax Payments

due in July 2020 and VAT payments due from 20th March 2020 to 30th June 2020

Job Retention Scheme Support for Directors of their own company, paid through PAYE

Grants for businesses that pay little or no business rates

Increased amounts of Universal Credit

Business Interruption Loan Scheme

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