Deferral of Self-Assessment payment

Andy Campbell Business support

The Self- Assessment payment on account that is ordinarily due to be paid to HMRC by 31 July 2020 may now be deferred until January 2021. Key requirements / eligibility criteria: The deferment is optional (recommendation to pay on 31 July 2020). This is an automatic offer with no applications required. No penalties or interest will be charged if July …

Support for Businesses Paying Tax

Andy Campbell Business support

All businesses and self-employed people in financial distress, and with outstanding tax liabilities, may be eligible to receive support with their tax affairs through HMRC’s Time To Pay service.  https://www.businesssupport.gov.uk/support-for-businesses-paying-tax/

Cash Grant for Retail, Hospitality and Leisure

Andy Campbell Business support

Grants of up £25,000 per property. Businesses with a rateable value of under £15,000, will receive a grant of £10,000. Businesses with a rateable value of between £15,000 and £51,000, will receive a grant of £25,000. Key requirements / eligibility criteria:Businesses in retail, hospitality and leisure sectors.  http://www.wakefield.gov.uk/business/business-rates/reliefs/small-business-grant

Rate Relief

Andy Campbell Business support

Business rate payers in the leisure, retail and hospitality sector will receive a business rate holiday for the 2020/2021 tax year. Key requirements / eligibility criteria:There is no need to apply for this, it will automatically be applied from the next bill.  http://www.wakefield.gov.uk/business/business-rates/reliefs/rating-reliefs-for-2020-2021

Small Business Grant Funding

Andy Campbell Business support

One-off grant of £10,000 to eligible businesses to help meet their ongoing business costs. Key requirements / eligibility criteria: Small business and already receive Small Business Rate Relief and/or Rural Rate Relief.  http://www.wakefield.gov.uk/business/business-rates/reliefs/small-business-grant

Self-employment Income Support Scheme

Andy Campbell Business support

Taxable grant worth 80% of trading profits up to a maximum of £2,500 per month for the next 3 months. This may be extended if needed. Key requirements / eligibility criteria: Businesses must have been registered for self-assessment in the 2018/2019 tax year. Where businesses did not submit their tax return in January 2020, they will have a further 30 …