Member Since: 4th Jul 2000
14th Jul 2020
Are the new Flat Rate percentages available yet? They aren't showing on here https://www.gov.uk/vat-flat-rate-scheme/how-much-you-pay
16th Jun 2020
Basil - excellent, thank you, that is really helpful and re-assuring.
16th Jun 2020
Thanks very much for the detailed response, though I'm still unclear about one particular aspect.
Prior to 1st july an employee had to be furloughed for a minumum of three weeks and if they were furloughed multiple times between 1st March and 30th June each furlough period has to be for at least three weeks.
I think what you are saying is that if, for example, someone was furloughed throughout April, unfurloughed in May and the first half of June and then furloughed again on 22nd June, they can meet the three week requirement for CJRS 1 by remaining furloughed through to 12th July. I agree this is the case.
What I am trying to clarify is that, provided an employee has been furloughed for three consecutive weeks between 1st March and 30th June, there isn't a minimum furlough period that they have to be furloughed for from 1st July. For example an employee could be furloughed for the week beginning 13th July only and a claim could be made for that one week, it does not need to be for three consecutive weeks from 1st July onwards.
Is that your understanding too please?
Likewise under Flexible Furloughing in theory an employee could be furloughed for one hour a week and for one week only and a claim could be made.
I'm referring to this link https://www.gov.uk/guidance/claim-for-wage-costs-through-the-coronavirus... where is states:
Using minimum furlough periods
Until 1 July, any employees you place on furlough must be furloughed for a minimum of 3 consecutive weeks. When they return to work, they must be taken off furlough. Employees can be furloughed more than once, but they must be furloughed for a minimum of 3 consecutive weeks each time they are furloughed.
From 1 July, agreed flexible furlough agreements can last any amount of time. Employees can enter into a flexible furlough agreement more than once.
Where a previously furloughed employee starts a new furlough period before 1 July this furlough period must be for a minimum of 3 consecutive weeks. This is the case regardless of whether the 3 consecutive week minimum period ends before or after 1 July.
The final sentence states exactly what you explained in your response, I agree with your answer in that respect 100%.
Thanks very much for your feedback. I've drafted a newsletter for clients and want to be absolutely clear on this aspect as it's pretty fundamental.
15th Jun 2020
Are you absolutely sure this is correct? The guidance says:
'Separate claims will need to be submitted to cover the days in June and the days in July that you want to claim for, even if employees are furloughed continuously. This may mean that your claim periods will differ from the pay periods you use.
This is from 'Decide the length of your claim period' here https://www.gov.uk/guidance/steps-to-take-before-calculating-your-claim-...
Doesn't the three week requirement finishes at 30th June?'
15th Jun 2020
Useful article, thank you.
2nd Aug 2016
Useful article, thank you.
Companies formed after 01.10.2009 don't have to worry about the Authorised Share Capital part, do they?
25th Apr 2016
How does CrunchBoards compare with Fathom?
How does CrunchBoards compare with Fathom for example (and other apps)?
I'm an accountant in practice and tried Fathom a couple of weeks ago, but thought it was too complicated for most small business needs. Also, unless the data was 100% up to date (and correct, so payroll journals posted etc.) it wouldn't be accurate ... obviously (!) and not Fathom's fault.
BUT I only looked for maybe 10 minutes so maybe I am missing something. I looked at it because a few months ago I saw an app that someone had on their iPad and used with Quickbooks (but I remember it worked with Xero also) and couldn't remember which one it was.
If there was a good KPI app out there, not too complicated, and not too expensive, then I'm interested, but I've not found it yet.
19th Apr 2016
Would the additional employee come within auto enrolment?
I don't think this has been mentioned previously, but wouldn't a temporary employee for one week need to be offered auto enrollment?
Auto enrollment isn't my area, but a one or two week assignment doesn't remove someone from auto enrollment requirements, does it?
18th Apr 2016
And make the second employee actually does something, presumably
I've been puzzling over this issue since the debate around paying a second earner a minimal wage to dodge the EA restriction was mooted.
I'm not entirely sure HMRC were behind the latest guidance - they may have been under orders from their political masters.
In February a question was asked in the Commons about the apparent ease with which SI 2016/63 could be negated. David Gauke made a carefully worded response which could be interpreted in more than one way (but is consistent with HMRC's latest guidance). I suspect there were red faces all round because of what seems to have been a failure of communication between those legislating and those drafting the legislation. While that's all by-the-by, I do wonder if there'll be a further tweak to the regulations to tighten the availability of the EA further.
Following Gauke's statement my view was, and is, the same as the ICAEW's - one week's worth of wages for a second earner above the secondary threshold will be enough to qualify an otherwise non-qualifying company for the full EA (assuming it pays enough NI to make use of it.
And, presumably, be careful that the second employee actually does something for the week's pay. Or would it be possible to make someone Company Secretary for a week and pay them in excess of £156 for the officer role?
17th Mar 2016
There's a typo in the first tabe
Reads £0-£50,000 instead of £0-£150,000
Second table is correct.