Anna’s Accountancy Alerts – Week 28 (12th – 18th October 2020)

Business

Ministers Announce New Grants For Businesses Affected By Local Lockdowns

Businesses in England that are required to shut because of local interventions will now be able to claim up to £1,500 per property every three weeks.

To be eligible for the grant, a business must have been required to close due to local COVID-19 restrictions. The largest businesses will receive £1,500 every three weeks they are required to close. Smaller businesses will receive £1,000.

Payments are triggered by a national decision to close businesses in a high incidence area. Each payment will be made for a three-week lockdown period. Each new three week lockdown period triggers an additional payment.

Managing Staff With Children Who Must Self-Isolate

An employee has a child who’s been sent home from school to self-isolate because someone in their “bubble” tested positive for coronavirus.

In this situation, an employee doesn’t have to automatically self-isolate too; you can expect them to attend work as normal. If childcare is an issue and the employee cannot work from home, you could agree a period of holiday. Alternatively, you could permit them to take unpaid parental leave without giving the usual 21 days’ notice.

New Trade Arrangements With The EU From 1st January 2021

HMRC has sent letters to VAT-registered businesses in Great Britain trading with the EU, or the EU and the rest of the world. They explain what businesses need to do to prepare for new processes for moving goods between Great Britain and the EU from 1 January 2021.

Measures explained in the letter include:

  • making sure they have a UK Economic Operator Registration and Identification (EORI) number;
  • deciding how they will make customs declarations;
  • checking if their imported goods are eligible for staged import controls.

Use the link below to obtain personalised information about what steps you need to take to prepare for the end of the Brexit transitional period.

https://www.gov.uk/transition

Stay Up-To-Date With Coronavirus & Brexit News

Coronavirus has affected us all. Whether you’re a sole trader, employer or employee. Stay up to date with the latest news – including government support, tax implications, and more.