Ongoing changes to the Coronavirus Job Retention Scheme (‘furlough’ scheme) and Self-employment Income Support Scheme (SEISS) could potentially lead to inadvertent errors – and scrutiny from a new tax fraud taskforce. Check the latest details before you claim.
What financial help is available to businesses and the self-employed?
Despite having now passed the 1-year anniversary of the first UK lockdown, many businesses continue to feel the financial impact of coronavirus. There are still a number of financial support schemes available to help businesses and the self-employed stay afloat and ‘bounce back’ once restrictions are lifted. Here’s a summary of the key business support schemes.
New COVID-19 support schemes announced
On 24 September, Chancellor Rishi Sunak announced a series of new measures to support businesses and employees affected by the ongoing coronavirus situation. These include a new Job Support Scheme, an extension to the Self-Employment Income Support Scheme, more time to pay VAT and tax owing from Self Assessment, and an extension to the hospitality VAT rate cut.
