Hi <<First Name>>
We are Working From Home
The Women Who Count office is now closed and we are each fully up and running from home. The office number has been diverted so please continue communication as usual.
The government has confirmed yesterday that Payroll Processors are deemed as Key Workers so rest assured, we will be able to get all payrolls completed.
Coronavirus Job Retention Scheme – Furloughed Workers
There are still no updates on this other than the new legislation is not expected to be ready until early April. There will be a backdated period, which is currently assumed to be 1st March. The scheme will run until the end of May but may well be extended.
If you would like to send a holding email to staff then please get in touch as we have a template email which can go out on your behalf.
Vat Deferral
The government is yet to finalise the details but Vat Returns will still need to be submitted, it is only the payment that can be deferred. This is an automatic offer with no applications required.
Remember to cancel your Direct Debit BEFORE submitting your vat returns if you do not wish to pay. Vat rebates will be paid as usual.
The liability will need to be paid by the end of the 2020 to 2021 company tax year; the initiative is to help short-term cash flow.
Banks
The Banks are getting clearer with their individual lending criteria for the government-backed Business Interruption loan. However, it is only available to those with viable businesses and the general consensus is that if Covid-19 had not occurred and you had a profitable business in 2019, you will have a profitable business in 2021.
The loans are subject to the usual credit checks and will need to be evidenced as normal, i.e. final accounts, cash flow forecast etc. The banks are using this as a last option and you will need to demonstrate that you have explored all other options such as contacting your Local Authority for Rate Relief or any applicable grants along with Furloughed Workers.
Self Employed
Yesterday there were rumours that the government was putting together a support package and this morning the Chancellor has announced they are working on a solution but there has still been NO OFFICIAL announcement.
WFH Tip
Make sure that you are getting important post such as notifications from your Local Authority. They may well be contacting you by letter to confirm bank details so they can pay grants!!
|
|
With kind regards
|
|
|
Whilst the situation continues to change daily, I will endeavour to update you via this newsletter and the website. If you have any questions or concerns, please do call us on 01732 449888 and myself and the team would love to chat and see how we can help.
|
|
|
Disclaimer: Advice shared in this newsletter is intended to inform rather than advise. We will accept no responsibility for any financial loss incurred.
|
|
|
|
|
Find us online
Follow us on Facebook, and Linked.
|
|
|
|
|
|
|
