Bookkeeping Bites – Fraudulent Furlough???

🤓 What would you do with 3.5 billion quidlets? 🤓What could BIG G do with 3.5 billion spondoolies???🤓

What is so important about this £3.5 billion?

Well, this is the amount that Big G reckon could’ve been ‘lost’ due to 💥 FURLOUGH ERRORS 💥or 💥FRAUD 💥

What is Big G doing about it?

🧐 They have identified 27,000 ‘high risk’ claims that look ‘unusual’

🧐 Making further enquiries into 11,000 of those high risk claims

🧐 Asking other employers to CHECK their claims and REPAY any excess amounts

Find out more from this very useful update ditty by AccountingWEB.co.uk, it is an interesting read:

https://www.accountingweb.co.uk/…/ps35bn-furlough-payments-…?

😍😍 Stay safe everyone, and stay on the RIGHT SIDE OF BIG G 😍😍

Bookkeeping Bites – Local Lockdown Grants

Does the chance of a 🔑🗝 LOCAL LOCKDOWN 🗝🔑worry you? Worry about how your business would cope 2️⃣SECOND 2️⃣ lockdown-around?

💥 💷 NEW GRANTS 💷💥 have been announced for business shut down by local lockdowns…

🤓 For businesses in LOCALISED LOCKDOWN areas only

🤓 Business must be CLOSED due to the lockdown

🤓 Business must have a property

🤓 The grant is worth between £1000 and £1500 every three weeks

Not bad eh? Something to EASE the worries should this happen in your area……..

To find out more, check out this article from ICAEW:

https://www.icaew.com/…/new-grants-for-businesses-hit-by-lo…

😍😍😍 Stay safe everyone 😍😍😍

Bookkeeping Bites – National Payroll Week!

😍 😍 This week is NATIONAL PAYROLL WEEK! 😍😍

💥 Did you know that PAYROLLS across the UK will contribute 💷💷 325.7 💷💷BILLION spondoolies to the UK’s economy in 2020/21?

💥 Did you know if you EMPLOY and PAY people, you MUST provide your employee’s with a payslip?

💥 Did you know that the payroll TAX month runs from the 6th to the 5th of the following month, EVERY month?

So, what ❤️ our own❤️ PAYROLL FACTS?

🤓 We run payroll for over 120 employees a month,

🤓 These employees are from MANY different companies – from Director-Owners paying themselves, through to larger companies with MANY people on their payroll

🤓 Once we have run a payroll, we tell you EVERYTHING YOU NEED TO KNOW, like:

💥 What net pay to pay yourself

💥 What net pay to pay your employees

💥 What to pay Big G for your monthly PAYE and NI contributions

💥 What to pay into your company’s pension scheme for the monthly contributions

 Big G is good on PAYROLL INFO  Check this out:

https://www.gov.uk/running-payroll

😍 And we are here to help as well, it is WHAT WE DO! 😍

Bookkeeping Bites – Brexit is Happening!

💥 ‘IT’ is LESS THAN 4 MONTHS TO GO 💥 (and by the way – we do NOT mean Christmas 🎄🎄🎄)

💥 What is IT? 💥 BREXIT! BREXIT! It IS happening people! 💥

Big G has a very useful on line zimmy-be-jimmy tool that you can use to see how it is going to tear up your lives (because quite frankly Corona is a bit boring now, yeah? 🙈🙈🙈)…

You can find it here: https://www.gov.uk/transition

So, what did I find out? Wellllllll….

🤓 I kinda need to sort the dog 🐶🐶 out with some legal passport-shizzle if we want to go abroad…. It can take UP TO FOUR MONTHS to sort….

🤓 I need a new passport 📝– mine doesn’t have enough time left on it to travel

🤓 We need one of those GB stickers on our car 🚗🚗🚗?!!!! I mean, I remember those from the FIRST TIME AROUND 🙈😂

Seriously though, this little online gem also goes through YOUR BUSINESS, and how leaving the EU 🇪🇺 will impact your DAY TO DAY trading……

Don’t ignore it. It is happening. Be prepared.

Or as Big B nicely sums it up:

 Check Change  Go 

Bookkeeping Bites – Kickstart Your Business!

💥 Fancy a new bod in your business for 6 months? 💥 Fancy the wages being paid by Big G? 💥

If you hollered 👍‘YEP!’ 👍to those two sparkly-starters, then Big G’s ‘KICKSTART SCHEME’ may be for you…

Part of 😍 Dishy-Rishi’s 😍July 8th update spoke about getting new, decent jobs for the 16 – 25 year olds…… And the KICKSTART SCHEME is how he plans to do it…

🤔  How will it work? 🤔

🤓 Youngsters ON UNIVERSAL CREDIT between the age of 16 – 25 years old are eligible

🤓 They will be offered 💥SIX-MONTH💥 placements

🤓 Big G will pay 100% of the MINIMUM WAGE, National Insurance and pension contributions for 25 hours a week for those six months

🤓 Eligible 16 – 25 year olds will be 💥REFERRED 💥by their Jobcentre Plus work coach

🤓 Interested EMPLOYERS can REGISTER to take part – but BE CAREFUL, the process is different depending on how many placements you have……. (30 is the magic number)

💥💥 There is TONNES of information out there 💥💥

➡️ Check if you can apply for a grant through the Kickstart Scheme, guidance released yesterday:

https://www.gov.uk/…/check-if-you-can-apply-for-a-grant-thr…

➡️ Big G’s news release yesterday: https://www.gov.uk/govern…/…/landmark-kickstart-scheme-opens

➡️ Another news release from yesterday (Big G was BUSY!!) https://www.gov.uk/…/kickstart-scheme-opens-for-employer-ap…

As we always say, the 😈👹👺DEVIL 👺👹😈 is in the detail, and the detail is a-coming!

Stay safe everyone 🤩🤩🤩🤩

Bookkeeping Bites – Are You BREXIT-READY?

Are you ‘SAD’, or feel ‘FFs’ that you will need an ‘FPOs’ and ‘NES’?

Watch out people! 💥 BREXIT IS HAPPENING! 💥 And these abbreviations are what you will need to get used to if you trade internationally……..

🤓 ‘SAD’ – Single Administration Document

🤓 ‘FFs’ – Freight Forwarders

🤓 ‘FPOs’ – Fast Parcel Operators

🤓 ‘NES’ – National Export System

Wanna find out more? Then check out this very informative update from our esteemed colleagues at On The Spot…..

https://www.onthespottax.co.uk/blog/entry/2020/08/23/breezing-through-brexit-understanding-the-import-export-jargon

💥 BREXIT is 3 MONTHS AWAY – Are you ready??? 💥

Bookkeeping Bites – Remember the 14th of July!

💥 “Remember, Remember, the 14th of July” 💥Okay, Okay, it doesn’t roll like the Guy Fawkes shizzle, but this is still a REALLY important date…. In our new CORONA world!

So, why the 14th July?

🤓 This is THE date you need to REMEMBER if you are SELF-EMPLOYED and looking to claim the 2nd Self-Employed Income Support Scheme (SEISS) grant

🤓 Big G has given THIS DATE (it’s the 14th of July, did we mention that bit? 😊) as THE DATE ON OR AFTER (ermmm, it’s the 14th of July by the way…) from which you work out if you have been ADVERSELY AFFECTED

“Okaaaaaaaaayyyyy, so I get the date bit, but ADVERSELY AFFECTED? Whaaaaaaaaaat?” (👍thats you saying that by the way 👍)

🤞 Remember 🤞our recent post that said adversely affected is where you have 🔽🔽 income and or 🔼🔼 increased costs DUE TO CORONA VIRUS?

So, now BIG G has given us EXAMPLES of how this works WITH the ON OR AFTER 14th July date….

You can check these out, via this link:

https://www.gov.uk/guidance/decide-if-your-business-has-been-adversely-affected-for-the-self-employment-income-support-scheme

 Yep. They are simple

Yep. They don’t cater for every situation

😍But, hey, give Big G a break, they can act as a guide, right?😍

Our TOP TIPS are:

💥 Check WHEN your income STARTED to be affected by Corona virus, and WHEN it STOPPED being affected by Corona virus…. How does this work for you, with the ON or AFTER 14th July date?

💥 Check WHEN your increased ‘Corona-Costs’ were incurred – BEFORE of AFTER the 14th July?

💥 Make sure you have the EVIDENCE to support ANY CLAIM you do make……. Do you wanna be scrabbling around in the dark for the facts and figures, if Big G comes-a-knocking in a year’s time???

And finally 💥 BE SENSIBLE, REASONABLE & HONEST 💥 in any claim you do make…

Alot easier to explain to Big G then, ain’t it?

😍😍😍 Stay safe everyone 😍😍😍

Bookkeeping Bites – Big G Checking Your Furlough Claims

‘Whats that you SAY? Big G is a-lookin’? What at?’

Your furlough claims. Simples.

Big G is contacting 💥3000 💥 employers it believes MAY need to give back some of their furlough 💷WONGA💷

🤯🤯‘Reeeeeeeaaaally? No way! You are kidding me?’🤯🤯

Nope. Sure as 🍳🥚eggs is eggs🥚🍳.

Big G is sending their 💌📨ditty 📨💌to any business they think:

🤓 Has claimed 🔼🔼more 🔼🔼furlough grant that they think they are entitled to

And / or:

🤓 Wasn’t entitled to the grant in the first place e.g. for employees that were not eligible

What can do you do if you get one of these letters?

😍 We are here for our CURRENT CLIENTS and NEW if you need assistance with one of these letters 😍

Just give us a shout, we can talk it through and see how best we can help.

For more details of Big G latest moves, check this link out from our esteemed colleagues at ICAEW:

https://www.icaew.com/insights/tax-news/2020/aug-2020/hmrc-commences-cjrs-compliance-activity?utm_campaign=Members+-+ICAEW&utm_medium=email&utm_source=1509397_Faculties_TAXnewswire_18Aug20_PO&utm_content=HMRC+commences+CJRS+compliance+activity&dm_i=47WY%2CWCNP%2CJWLHF%2C3ZOS5%2C1&fbclid=IwAR1P8vc-EHBK0w71_eTHJTCBeR2aO9veY8F7Dj1ON_M1UvLDXdR4mzh9_ok

🤩🤩Stay safe everyone 🤩🤩

Bookkeeping Bites – All Change for the Furlough Scheme!

Furlough is on the CHANGE again from 1st September – what does this mean to you?

🧐 You will be able to claim 💥 70% 💥 of your furloughed staff’s usual wages (instead of the current 80%)

🧐 You will need to 💥 TOP UP THE EXTRA 10% 💥 (to a maximum of £312.50) to take your employee’s wages to 80% of their usual pay

🧐 The CAP on what you can claim for each employee changes to 💥£2187.50 💥per month

🧐 Flexi-Furlough arrangements are STILL available – if you want to start bringing back your employees on a part-time basis

🧐 You will need to cover the cost of the Employee’s National Insurance and pension contributions (the same as August)

For a snazzy (yeah, Big G can do snazzy sometimes 😍) table of the changes, month by month, check out this link:

https://www.gov.uk/government/publications/changes-to-the-coronavirus-job-retention-scheme/changes-to-the-coronavirus-job-retention-scheme

🤞Remember🤞 September and October are the last months for the furlough scheme……

If you are not sure DON’T GUESS ASK!!! Getting expert advice can be the difference between a good nights sleep and a whole load of stress….

Stay safe everyone 😍😍😍

Bookkeeping Bites – Big G’s Help is Out There!

Self Employed? Bit, y’know, confused about what it is Big G has on offer for you bods during Covid-19? THIS might just help ya!

🤓 Big G has a NEW webinar out
🤓 It explains ALL of the Covid-19 support on offer to anyone as a self-employed person
🤓 Just check out this link to book on:

https://register.gotowebinar.com/rt/9110491084194159374…

🤓 Did you know?

💥💥 Big G has their own YOU TUBE CHANNEL?💥💥 Yes, wow! 💥💥

Check it out, you never know what you might find out:

https://www.youtube.com/playlist…

The help is out there, sometimes it is just about finding out where….

And REMEMBER – TODAY is the DAY for start of the stage 2 Self-Employed Income Support Scheme grants. Check out our post from Friday for more information.

Stay safe people, adios amigos 😍😍😍