TC Group is here to support you and your business through these unprecedented times. Our COVID-19 Hub is an information resource and place to find answers to the most important questions, enabling you to keep your business operational during this challenging period. Inside, you will find useful details on Government support for businesses and individuals as well as a wide range of practical advice from our specialists in each of the key areas where you may need assistance.
Please note our physical premises are now closed. Although we have adapted our processes, we continue to manage our post daily, and you should experience minimal to no disruption to our handling and response times. All other services are continuing as normal. Most staff now work from home, and we will ensure that we continue to support you in the usual way via calls, emails and video conferencing.
Increased Fraud Risk
Fraudsters are taking advantage of the uncertainty caused by the Coronavirus to target potential victims. Please take all necessary steps to ensure you are not one of them. Full Government guidance can be found here. Wherever possible you should send documents and transfer money electronically, rather than sending forms and cheques in the post. It is also important to be vigilant when it comes to making transactions online.
Following on from yesterday’s update, Westminster was quiet again today on the business front, so there are no additional government updates today. Hopefully, by now, you are well on your way with your HR plan, funding solutions and other cash flow improvement...
Research & Development (R&D) tax relief is an incentive available to UK limited companies which encourages investment in innovation. R&D tax credits can reduce a company’s tax liability and can be backdated for previous years so can result in significant...
Our HR and Tax teams worked over the weekend to ensure our clients were able to plan and start executing their HR/Furlough strategies. If you haven’t already please contact the TC HR team to find out how we can help.
All employers can apply to HMRC for a grant to pay 80% of the wages of retained staff who are not working (known as “furlough”) up to a maximum of £2,500 per worker per month. The Coronavirus Job Retention Scheme (CJRS) will be backdated to 1st March 2020 and will...
Self Assessment Deferrals The self-assessment payments due this coming July will be deferred (but not waived) until January 2021; all Income Tax payable in July 2020 is deferred until 31 January 2021. VAT Payment Deferrals The next quarter of VAT payments will be...
The Government has implemented a 12-month business rates holiday for all shops, pubs, theatres, music venues, restaurants and any other hospitality or leisure business, which comes into place from April…
Support for self-employed earners mirrors somewhat the relief for employees via the Coronavirus Job Retention Scheme (CJRS). 80% of earnings based on an average from the last three tax years, and capped at £2,500 per month.
A cash grant of up to £25,000 for those businesses with a rateable value of less than £51,000, and cash grants of £10,000 to 700,000 of the smallest businesses.
If you have a member of staff who has the recognised symptoms of Coronavirus, they and the rest of their household should self-isolate for 14 days. During this period, their absence should be treated as sickness and paid as per your sickness absence policy.