Phone: 0191 2261291
COVID-19: USEFUL INFORMATION
We will keep this page updated with the latest information as soon as we are able.
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The office will be closed from Wednesday 25 March 2020. We will continue to provide as full a service as we are able.
Contact details are as follows:
Helen: Mobile - 07739121544 / Email: helen.taylor@tdtaxation.co.uk
Gill: Mobile - 07980655681 / Email: gill.donaghy@tdtaxation.co.uk
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STAY SAFE EVERYONE
CORONAVIRUS JOB RETENTION SCHEME
For employees who would have otherwise been laid off, HMRC will reimburse 80% wages up to a £2,500 per month cap. Employees status must be changed and designated as "furloughed" workers.
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HMRC will set up a new online portal for reimbursement and therefore repayment may be delayed in the short term.
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For further information on the coronavirus job retention scheme click here.
BUSINESS RATES RETAIL DISCOUNT
This is increased to 100% in the year 2020/21 for occupied retail, leisure and hospitality properties with no rateable limit on the relief.
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Local authorities will apply automatically to the next council tax bill.
RETAIL, HOSPITALITY AND LEISURE GRANT
Businesses in the above sectors with property with a rateable value of less than £15,000 will receive a grant of £10,000, or between £15,001 to £51,000 will receive a grant £25,000.
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Local authorities are publishing details on their website and will contact businesses automatically if properties are eligible.
ONE OFF GRANT OF £10,000
Specifically aimed at small businesses that already pay little or no business rates under the existing Small Business Rate Relief (SBBR), a one off grant of £10,000 has been made available for these businesses (also including those which qualify for Rural Rate Relief).
HMRC TIME TO PAY ARRANGEMENTS & VAT DEFERRAL
Businesses with outstanding tax liabilities (PAYE, NIC, VAT, Corporation Tax) may be able to defer payment through HMRC support which will be reviewed on a case by case basis.
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A dedicated helpline has been set up on 0800 0159 559, although there are likely to be lengthy wait times.
STATUTORY SICK PAY (SSP) RECLAMATION FOR BUSINESSES
Businesses with under 250 employees will be able to reclaim expenditure for any employee, who for a period of up to two weeks, has claimed SSP because of coronavirus. This includes self-isolation and employees will not have to provide a doctors fit note.
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As existing systems are not set up to accommodate employer refunds of SSP, the government is working to set up a mechanism for this. As such, there is likely to be an unquantified delay in recovering the refund.
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For further information on SSP click here.