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The Coronavirus Job Retention Scheme (CJRS)

We have been keeping you informed of the Government’s responses to the coronavirus pandemic as they have been released. We would love to hear your feedback and whether there is anything more you would like us to do in these strange times. The Government has announced significant support measures to date and in our last update we informed you of some upcoming changes on the CJRS (Coronavirus Job Retention Scheme) and the detailed guidance was released last week We are now looking at the 14th update by the government on this topic. The guidance can be found at this link.
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Changes to the Coronavirus Job Retention Scheme and the Self Employment Income Support Scheme

On Friday’s government briefing the Chancellor, Rishi Sunak, announced major changes and extensions to both the Job Retention Scheme for employees and the Self Employment Income Support Scheme. We have outlined the changes to each scheme below.   Coronavirus Job Retention Scheme Closure of Scheme to new applicants The scheme will close to new entrants from 30 June. From this point onwards, employers will only be able to furlough employees that they have furloughed for a full three-week period prior to 30 June. This means that the final date by which an employer can furlough an employee for the first
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Self-Employment Income Support Scheme

The Self-Employment Support Scheme system has gone live today (at 8am). Please see our previous posts on the scheme details and eligibility (Update No 14 05/05/20) and (Update No 15 06/05/20). The link to the claim system is: https://www.tax.service.gov.uk/self-employment-support/enter-unique-taxpayer-reference HMRC are phasing claims so not everyone can claim today but everyone will be able to claim over the next few days. The claim must be made by the taxpayer and not us (as your agent). We have already guided people through the system which does appear to be straightforward. You will need your: Self Assessment Unique Taxpayer Reference (UTR) –
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Self-Employment Income Support Scheme
Update

Further to our update No. 14 yesterday (05-05-2020) relating to applications for the Self-Employment Income Support Scheme, the Tax Faculty at the Institute of Chartered Accountants in England and Wales have advised against taxpayers setting up a new Government Gateway ID in advance of making an application for the new Self Employed Income Support Scheme. The advice from the Tax Faculty at ICAEW reads: ‘The Tax Faculty advises against clients setting up a new government gateway ID in advance of making an application, but instead doing so as the first step in the application process. This will ensure that the
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Self-Employment Income Support Scheme

Yesterday, further details were announced regarding the Self-Employment Support Scheme that was announced on 26 March. For details of the guidance issued by the government on this please visit: https://www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme#claim We already knew that to qualify: You must be self-employed or a member of a partnership and generate over 50% of your total income from this source; and You must have submitted a tax return for 2018-19; and You must have traded in 2019-20 and expect to trade in 2020-21; and Either your trading profits for 2018-19 were less than £50,000 or your average profits for 2016-17, 2017-18 and 2018-19
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