Summary of the budget on 3 March 2021, covering most areas most relevant to SMEs. The CJRS scheme has been extended, there will be a new recovery loan scheme to replace the CBILs and BBLs. Increase to corporation tax rates. Extension of the stamp duty holiday until June 2021. One final self employed grant will be available.
The Kickstart Scheme is a new government scheme to help create jobs for young people (16 to 24) who are on Universal Credit. Any employer can apply for funding. A Kickstart Scheme application must be for a minimum of 30 job placements. If a single employer cannot provide this many job placements, they can find an existing Kickstart gateway, such as a local authority, charity or trade body for help applying.
At Partner Accountancy, we’re here to help you make sense of new developments. Whether you’re an employee, director, share-holder or business owner, you can contact us to figure out what’s best for your situation – we’re here for you! Published 28 June 2020 Can I claim for working at home due to Coronavirus? The short answer is yes you can […]
The furlough scheme will close to anyone who hasn’t been furloughed for 3 weeks by 30 June, so you will only be able to claim for employees after that if they have been furloughed for a full three-week period at any time before the end of June.
So, if you intend to furlough an employee who hasn’t been furloughed before, you will need to agree that with them and start their period of furlough on or before 10 June.
The furlough scheme will be closed to new entrants from 30 June 2020 and employers will only be able to claim for furloughed employees who have been furloughed for a minimum 3-week period prior to that date.
This means that the last date you can furlough a previously unfurloughed employee to qualify to claim under the new scheme is 10 June 2020.