Changes to the Job Retention Scheme (CJRS)!
  • From 1‌‌‌st ‌September CJRS will pay 70% of usual wages up to a cap of £2,187.50 per month for the hours furloughed employees do not work.
  • Employers will still need to pay furloughed employees 80% of their usual wages for the hours they do not work, up to a cap of £2,500 per month. Employers will need to fund the difference between this and the CJRS grant themselves.
  • The caps are proportional to the hours not worked. For example, if an employee is furloughed for half their usual hours in September, employers are entitled to claim 70% of their usual wages for the hours they do not work up to £1,093.75 (50% of the £2,187.50 cap).
  • Employers will continue to have to pay furloughed employees’ National Insurance (NI) and pension contributions from their own funds.
Client to Partner

You may have noticed that over the last 2 months we have made the shift to addressing the businesses that we work to Partner, instead of client or customer!

Why have we done this?

The dictionary defines a client as; ‘a person or organization using the services of a lawyer or other professional person or company’ and customer as; ‘a person who buys goods or services from a shop or business’

Neither of these descriptions fit the relationship that we hold with the businesses we work alongside and support, as we have a long-term relationship with all our ‘Partners’, acting as an extension to their own business operation.

So, what does the dictionary say of a ‘business partner’?
'A business partner is a commercial entity with which another commercial entity has some form of alliance.’
Allow us to build a stronger partnership with your business today, speak to your relationship manager to find about d&t’s other support services.
Loan Charge
If any individuals have disguised remuneration loans that are subject to the Loan Charge, the deadline to report the details of their loans is approaching. These loans must be reported to us by 30‌‌ September 2020 using the online form on GOV‌.UK. Anyone who wants to spread their disguised remuneration loan balances evenly across the 2018-19, 2019-20 and 2020-21 tax years also needs to do so by 30‌‌ September 2020. They can do this using the same online form on GOV.UK.

To provide customers with more support, HMRC has published further information on the Loan Charge policy and how we support customers with tax debts.

Refunding voluntary payments made in disguised remuneration settlements

As a result of the recommendations in the Independent Loan Charge Review, certain voluntary payments (‘voluntary restitution’) made as part of a disguised remuneration settlement with HMRC can be refunded.

We have published guidance about which voluntary payments can be refunded.
SME Business Grant
Thousands of smaller businesses in England are set to benefit from £20 million of new government funding to help them recover from the effects of the coronavirus pandemic, the Minister for Regional Growth and Local Government has announced.

Small and medium sized businesses will have access to grants of between £1,000 - £5,000 to help them access new technology and other equipment as well as professional, legal, financial or other advice to help them get back on track.

The support will be fully funded by the Government with no obligation for businesses to contribute financially and the support will be fully funded by the government from the England European Regional Development Fund and distributed through local enterprise partnerships (LEP) Growth Hubs, embedded in local areas across England.

Activities supported through the £20 million can include:
  • One-to-many events providing guidance to respond to coronavirus,
  • Grants (£1,000 - £5,000) to help businesses access specialist professional advice such as HR, accountants, legal, financial, IT and digital, and to purchase minor equipment to adapt or adopt new technology in order to continue to deliver business activity or diversify.
We will provide further details on how to apply for these grants in due course. If you would like to discuss how we can support your business through additional services eligible to be claimed back via the grant, please contact us today.
Superhero Tips!
Super Saver - aka Claire Law
"Access the finance you need to start your franchise or to confidently expand, with expert guidance on business planning and funding applications."
- Claire Law, Practice Director
Captain Development - aka James Thomas
"Take the hassle out of your numbers with tailored accountancy support that helps you focus on what's most important - Growing your business"
- James Thomas, Commercial Manager
Read all about it!
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