PJL Accounts Ltd - Blog Update #1

Updated: Jan 2, 2021

Hi!


Welcome to the first PJL Accounts weekly update.


It's been a busy week with the continuation of the vaccine rollout, the updated Tiers being announced and plenty of rain!


Personally I have had a productive week with work, trying to get organised for Christmas and ready for the mad rush that January usually is thanks to the tax return deadline.


I'm now ready to call it a week, watch plenty of football, finish my Christmas shopping & have a little festive drink.


Key notes for this week:



1. 2019/20 Tax Return Deadline is fast approaching


The deadline to file Self Assessments for the tax year 6th April 2019 - 5th April 2020 is 31st January 2021.


If you are required to submit a return for this period, please ensure you do this by the deadline to avoid the dreaded late filing penalties.


We can help if you need any assistance on this.


#TaxReturns #Accountant #SelfAssessment #HMRC



2. Rishi Sunak has announced a further extension of the Furlough & Loan Schemes


The furlough scheme has been extended until the end of April 2021 with the government continuing to contribute 80% towards wages – giving businesses and employees across the UK certainty into the New Year.


Rishi Sunak also confirmed he would be extending the government-guaranteed Covid-19 business loan schemes until the end of March.


#FurloughScheme #BouncebackLoans #Accountant



3. Self Employment Income Support Scheme grant


If you are eligible for the third grant, before you make the claim for this, please ensure you understand the new criteria added by HMRC as it may have slipped through the net.


You may only claim if your business is adversely affected by Coronavirus and you are currently trading. Either of the following must also apply:


🔵You are impacted by reduced demand due to the Coronavirus.

Reduced demand means less work is available despite you actively looking for new work.

🔵You are temporarily unable to trade due to the Coronavirus. Being unable to trade includes:

Being forced to close due to restrictions, illness or shielding or having to look after family.

🔵Broadly, no third grant should be claimed if the business is unaffected or if the business is only affected by the owner’s actions.


#SEISS #Selfemployed #Grant



4. Coronavirus tests exempt benefit


HMRC have confirmed that where an employer reimburses an employee for the cost of a Coronavirus test, that reimbursement will be exempt from Income Tax and National Insurance.


This latest measure will apply where employees purchase their own Coronavirus swab tests and are reimbursed by their employer.


#Coronavirustests #Covidtest #EmployeeExpense



5. Benji turns 1 year old


This in Benji, he is a little Pomeranian & it was his first birthday this week.


We introduced him to our family in February and he has been a real blessing this year.


Full of personality and energy, he has been a bright spark of life.


A key part of the team here at PJL Accounts already as you may've seen on our social media posts, he is the office mascot.


His main roles are barking at the door when people arrive, and making sure that he gets the most attention .


It's not all giggles though as he does have a keen eye for fox & cat poo & does enjoy a good rummage through it when he spots it.


He will be sure to say hello on your visit to our office in the future!


#Pomeranian #Pomlife



6. It's nearly Christmas

I hope you are getting into the Christmas spirit, I know it is difficult this year with everything that has happened but as I like to remain a positive person I do think that this has brought everyone together in a weird way.


For us Brits sometimes ammunition for a good moan is enough and we've had plenty of that this year 😂


The sense of community spirit has been great with people supporting local business's, helping the vulnerable throughout this pandemic


It now just a case of continuing this as the world slowly transitions back to a more normal way of life next year (Hopefully).


Have a lovely Christmas and New Year! 🎉🎉


#Merrychristmas



This weeks music mood:

Kid Cudi - Album: Man On The Moon III




Thank you for taking the time to read this, stay safe & continue to support local!


Kind regards,


Pete 😊


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