Brooks Accountants

We have been attempting to add as much information as possible to our Information Update page but there are still many unanswered questions.

Below are a few of those that we are being repeatedly asked:

1How do I get the business rates relief that the government promised?

Your local authority will write to you in due course to inform you of your entitlement.

2I qualify for the small business rates relief so won't get a holiday from business rates payments. Do I qualify for the £10,000 cash grant and if so how do I claim it?

As with the business rates holiday, it is the local authority who will administer this and will write to you in due course to inform you of your entitlement.

3My staff will need to work reduced hours, can I apply for the Job Retention Scheme?

No, this scheme is only available to those employers who would otherwise have to lay off their staff because there is no work for them.

4How do I apply for the Job Retention Scheme?

HMRC will administer this scheme and in due course will release details of how to apply. A new HMRC IT system will need to be built to administer such a scheme so expect delays in reimbursement.

5If I have no work for my staff and I apply for the Job Retention Scheme, that pays them 80% of their salary, do I have to pay the remaining 20%?

No, this scheme is only available to those employers who would otherwise have to lay off their staff because there is no work for them.

6How does the VAT deferment work?

The next quarter of VAT payments will be deferred, meaning businesses will not need to make VAT payments until the end of June 2020. Businesses will then have until the end of the 2020-21 tax year to settle any liabilities that have accumulated during the deferral period. The deferral applies automatically and businesses do not need to apply for it. VAT refunds and reclaims will be paid by the government as normal.

7A member of staff has her grandson living with her and he has suspected Coronavirus. As they both need to self isolate is she entitled to statutory sick pay (SSP)?

es SSP is payable to your employee in these circumstances.

8I am due to make my next income tax payment on account by 31st July 2020. Do I still have to pay this?

No this payment has been deferred until 31 January 2021.

9My corporation tax payment is due soon and I don't think I'll have the money, what do I do?

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 coronavirus (COVID-19).

The helpline number is 0800 0159 559 and allows any business or self-employed individual, who is concerned about paying their tax due to coronavirus, to get practical help and advice.

10My corporation tax payment is due soon and I don't think I'll have the money, what do I do?

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 coronavirus (COVID-19).

The above is for guidance purposes only, based on what we know at the moment. If you require specific advice then please contact us directly on info@brooks-accountants.co.uk

We will be adapting this page as soon as we have more information, so please continue to check back.

If you have any further questions reach our to our friendly team

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