News

CORONAVIRUS: Update on Support (August 2020)

Coronavirus Business Interruption Loan Scheme (CBILS)

From today - 30 July - the scheme will be open to ‘undertakings in difficulty’ which have fewer than 50 employees and a turnover of less than £9 million.

Self-Employment Income Support Scheme (SEISS)

The Government has issued updated guidance on how to inform HMRC if the grant was incorrectly claimed or the amount received was incorrect and details of the possible penalties for an error not corrected by the later of 20 October 2020and 90 days after the grant is received.

Coronavirus Job Retention Scheme (CJRS)

The Government has issued updated guidance on how to inform HMRC if an incorrect claim has been made.

Details have also been published of the possible penalties for not informing HMRC of an incorrect claim by the later of:

90 days after receipt of the payment;
90 days after the change in circumstances so that no longer; entitled to the payment;

https://www.gov.uk/guidance/tell-hmrc-and-pay-the-self-employment-income-support-scheme-grant-back
https://www.gov.uk/guidance/if-youve-claimed-too-much-or-not-enough-from-the-coronavirus-job-retention-scheme#history

Monday, 3rd August, 2020