HMRC will reimburse 80% of furloughed workers wage costs up to a cap of £2,500 per month per employee. The scheme will be in place for 3 months and if needed, be extended until the health crisis is over. Employer Q&A: Coronavirus Job Retention Scheme, your questions answered here.

HMRC are currently creating a new online portal so that all UK employers, regardless of size, will be able to seek assistance if they have employee(s) who have been designated as ‘furloughed’ workers, known as the Coronavirus Job Retention Scheme.

Its Q& A Friday! You may be wondering, why can’t I pay my taxes with a credit card? HMRC took the decision two years ago to ban credit card payments to pay your tax bill.

The main reason being to avoid the small credit card fees they would incur if they did!

Let’s face it, who would want to be in Rishi Sunak’s shoes right now? Ok, he may have landed one of the most important jobs in the country as chancellor of the exchequer, but having to deliver one of the most important tasks of his job being only one month in? No easy task.

Our predictions for the 2020 Budget which will be delivered by Sunak on the 11 March.

“My wife and I have decided to carry on trading in my company, can I defer my state pension? If I can, what are the effects on my pension payments?”

What are the advantages and disadvantages of payrolling benefits to your employees? Let’s take a look…..

HMRC first introduced the ability for employers to payroll taxable benefits to employees in 2016.

Payrolling means that any benefits you provide to your employees is treated as cash equivalents, so the necessity of completing a P11D form is no longer required, benefits are in effected ‘payrolled’ into staff salaries and employees pay tax over the tax year each month via their salary versus additional tax having to be paid via employees’ tax codes.