Month: May 2020

What happens if my employees have to self-isolate following contact tracing?

Following the launch of the Government’s contact tracing system, employers should be prepared for the possibility of multiple employees being required to self-isolate if one employee from the workplace tests positive for Coronavirus. This means it is vital that employers are aware of the arrangements concerning Statutory Sick Pay (SSP) and self-isolation. Changes to the…

Coronavirus Job Retention Scheme – the next steps

The Government’s Coronavirus Job Retention Scheme (CJRS), also known as the furlough scheme, was recently extended until October, with no changes until August. But what happens next with the scheme?

Money laundering supervision payment deferrals and deregistration announced by HM Revenue & Customs

Businesses that require money laundering supervision from HM Revenue & Customs (HMRC) can receive a six-month payment deferral or deregistration where an annual fee is due between 1 May and 30 September 2020, it has been announced. HMRC is the money laundering supervisory authority for: money service businesses not supervised by the Financial Conduct Authority…

Temporary tax freeze on home office expenditure announced

The Government has announced a temporary tax and National Insurance Contribution (NIC) exemption that ensures that home office equipment purchased by employees, where reimbursed by the employer, does not attract tax or NICs. Jesse Norman, financial secretary to the Treasury, announced in a statement to the House of Commons that the temporary exemption will affect…

Maximum Government-backed loan amount for larger businesses increased to £200 million

The Government has announced an increase in the maximum amount that larger businesses can borrow under the Coronavirus Large Business Interruption Loan Scheme (CLBILS) from £50 million to £200 million. CLBILS loans are offered on normal commercial terms, but are backed by a Government guarantee worth 80 per cent of the amount borrowed. They can…