Yesterday the Chancellor Rishi Sunak presented his third Budget and set out plans to “build back better” – whilst there was not a lot of new information, our Budget Report summary recaps the current tax rules and forthcoming changes.
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With the UK having been adversely affected by the coronavirus (COVID-19) pandemic, Chancellor Rishi Sunak presented the 2021 Budget against a backdrop of ongoing economic hardship. Our Budget Summary (see the link at the bottom of the page) provides an overview of the key announcements arising from the Chancellor’s speech. Measures for businesses include the […]
This guidance page was updated on 12 June to include details on how the scheme will change from 1 July. The first time you will be able to make claims for days in July will be 1 July, you cannot claim for periods in July before this point. 31 July is the last day that […]
Today face masks become compulsory on public transport in England and the Government has outlined its recovery strategy. The Coronavirus job retention scheme rules (CJRS) are changing, and these are outlined below and other Government news. At the end of the newsletter are details of allowable expenses for home working. Please contact us if you […]
The Self-Employment Income Support Scheme currently allows you to claim a taxable grant worth 80% of your average monthly trading profits, paid out in a single instalment covering 3 months’ worth of profits, and capped at £7,500 in total. Read more below:
UK Chancellor Rishi Sunak outlined changes to the furlough scheme during the daily press briefing (29 May 2020). The Chancellor stated that in June and July the furlough scheme will continue as before, but employers will be asked to cover National Insurance and employer pension contributions in August. By September, businesses will pay 10% of […]
Chancellor Rishi Sunak has said self-employed workers across the UK will be able to access a second Grant from the government to cover lost income while the country is in lockdown. The grants paid out by the Self-Employment Income Support Scheme (SEISS) will be worth 70% of a self-employed person’s average monthly trading profits to […]
It’s been a very unusual last couple of months – the Liric team have learned so many new things – who knew what the word Furlough meant at the beginning of March ?? We have been constantly keeping you up to date with Government announcements, providing guidance on the implications for you and your business, […]
Currently, most of the questions being asked of us are in respect of the support available for employees. Whilst the guidance provided by the Government has been updated, there is still a lot we do not know and are probably not going to get black and white answers to, for all situations. However, I thought […]
There is one question we have been asked more than any other by directors since the furloughing guidelines were issued… Can I furlough myself? We would like to share our updated thoughts on this subject and why you don’t have to (completely) make your mind up just yet. Download the PDF with more information below: […]