#1 consideration before anything else… Stay healthy and make sure your loved ones are too!!

#2 We’re here to help!

We are in unprecedented times at the moment with the constantly changing Coronovirus situation. We will use this page to post our latest updates and information that may be important for your business.

Health and well-being are the most important things right now and so we have made the decision that our team will be working remotely from Wednesday 18th March for the foreseeable future. However, with the wonder of technology we can assure you that our services will continue as normal, all of our client work will still be done, and all deadlines will be met. There may be a few bumps in the road, and different ways of achieving things, but, we will make sure things get done as they should be.

We will pop into the office, may be twice a week, to check the post so feel free to drop paperwork through the door if necessary.  However, where possible we would encourage clients to scan it in via their portal. The portal is a safe and secure way of exchanging documents and is also efficient for you to sign official documents to be submitted.

We will be checking our voicemail daily, however, the best way to keep in contact with us will be via e-mail. If you have a question or would like information just drop an e-mail to your usual Cedar + Co. contact or to advice@cedarandco.co.uk and someone will give you a call back or answer via e-mail. We cannot guarantee a response from any message left on the answer machine, so, please email.

These measures are being put into place to protect you and our team. If you need anything let us know. Our business depends on your business and we must all pull together during the next few weeks.

 

UPDATE 26 March 2020 – Self Employed

Rishi Sunak tells the Self Employed “You have not been forgotten”

  • Self Employed workers will be able to apply for a grant of up to £2,500 a month to help them cope with the financial impact of Coronavirus.
  • The money will be paid in a lump sum
  • This may not be available until the beginning of June
  • Self employed encouraged to sign up for Universal Credit to help in the meantime
  • You must already have been registered as self employed
  • The grant will cover up to 3 months but may be extended if necessary
  • Anyone that has not completed their 2019 tax return encouraged to do so immediately in order to be able to apply

We will give more details as we know them.

 

UPDATE March 24 2020

  • Businesses can apply for a grant of up to £2,500 a month to cover 80% of salary for those retained but not working
  • VAT for all businesses deferred to the end of June – This is an automatic offer with no applications required. Businesses will not need to make a VAT payment during this period. Taxpayers will be given until the end of the 2020 to 2021 tax year to pay any liabilities that have accumulated during the deferral period. VAT refunds and reclaims will be paid by the government as normal.
  • Business Loan Scheme will be Interest free for 12 months. The government will provide lenders with a guarantee of 80% on each loan (subject to a per-lender cap on claims) to give lenders further confidence in continuing to provide finance to SMEs. The government will not charge businesses or banks for this guarantee, and the Scheme will support loans of up to £5 million in value.
  • Universal credit allowance increased to £1000 per year. Self employed will get full Universal Credit at rate equivalent to SSP
  • Income Tax Self-Assessment, payments due on the 31 July 2020 will be deferred until the 31 January 2021. If you are self-employed you are eligible. This is an automatic offer with no applications required. No penalties or interest for late payment will be charged in the deferral period.
  • All cafes, pubs, bars and restaurants to close Friday 20th March and not reopen
  • All non-essential businesses told to close in a statement on 23rd March

We will make further updates as information becomes available.

job retention

Coronovirus Job Retention Scheme

Under the new Coronavirus Job Retention scheme, government grants will cover 80% of the salary of PAYE employees who would otherwise have been laid off during this crisis. The scheme, open to any employer in the country, will cover the cost of wages backdated to 1 March 2020 and will be open before the end of April. It will continue for at least three months, and can include workers who were in employment on 28 February.

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Business Rates

Business Rates Relief

There are a raft of new changes to business rates relief designed to support businesses dealing with hardship and disruption as a result Covid-19. These changes come alongside recent announcements for further support in devolved UK authorities.

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Director or Self Employed

Are you Self Employed or a Director?There seems to be a lot of confusion out there regarding whether people are classed as employed or self employed? Where does a director fit in? And what does that actually means for you. We will try to explain…

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BBB loan scheme Coronavirus Business Interruption Loan Scheme is open to Small Businesses[/caption]

Announced by the Chancellor at Budget 2020, the Coronavirus Business Interruption Loan Scheme (CBILS) is now open for applications. Click below to find out more.

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time to pay

Time to pay arrangement for outstanding tax liabilities

HMRC has a set up a phone helpline to support businesses and self-employed people concerned about not being able to pay their tax due to COVID-19.

The helpline number is 0800 0159 559

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Sick Pay

Statutory Sick Pay

Legislation will allow SME’S and employers to reclaim Statutory Sick Pay (SSP) paid for sickness absence due to COVID-19. Click below for more information regarding eligibility and what happens if you are not eligible.

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