MHA Carpenter Box Newsletter
Published: 03 Jun 2020
Coronavirus Statutory Sick Pay Rebate Scheme
Employers can make claims through the Coronavirus Statutory Sick Pay Rebate Scheme.
The government has launched a new online service for small and medium-sized employers to recover Statutory Sick Pay (SSP) payments they have made to their employees.
Employers are eligible if they have a PAYE payroll scheme that was created and started before 28 February 2020 and they had fewer than 250 employees before the same date.
The repayment will cover up to 2 weeks of SSP and is payable if an employee is unable to work because they:
- have Coronavirus; or
- are self-isolating and unable to work from home; or
- are shielding because they have been advised that they are at high risk of severe illness from Coronavirus
You can check if your business can claim back Statutory Sick Pay paid to employees due to Coronavirus (COVID-19).
The latest issue of Real Estate Matters is now available
Our national Construction and Real Estate team at MHA produced a quarterly newsletter to provide a national outlook on the issues facing the sector.
Our latest Construction and Real Estate publication provides information on the impact of COVID-19 on the construction sector, as well as advice on minimising the impact.
The topics include:
- COVID-19 overview
- Utilising tax incentives to maximise cash flow
- Funding during COVID-19
- Construction insolvency: forewarned is forearmed
- IR35 and the Off-Payroll legislations
It also contains articles on the latest construction news and house price growth from March 2020, just as the lockdown was introduced in the UK.
Read the latest edition of The Engine
Our latest Manufacturing and Engineering publication includes the latest news and updates in the sector.
Whatever adjective you might use to describe the current time, and there are many, it is unlikely to be a period that we will forget in a hurry.
The Government have provided unprecedented levels of support to businesses and encouraged manufacturers to remain open and consider if they can help “answer the call to action” and play a “direct role in combating COVID-19”. Many manufacturers have risen to the challenge and our first article highlights a few examples of these.
This issue also covers:
- Data Driven Influence
- CBILS application tips
- EU rules dictating UK SMEs toss-up between survival and strategy
Emotional consequences of retirement
The latest episode of our financial planning podcast, The Retirement Gym, is now available to download.
In this episode, Roy speaks with Caroline Clarke, a Psychotherapist based in Brighton who helps people navigate major life changes such as retirement.
They discuss how you can prepare for a positive and successful retirement from an emotional and well-being perspective, including:
- The difference between expectations and reality of retirement
- Managing expectations of others and setting boundaries
- Coping with a loss of purpose and structure from work
- The link between mental and physical health
- Dealing with unexpected retirement
How to listen
You can listen to the podcast on our website, or on streaming services including:
Subscribe on your favourite platform to hear the latest episodes as soon as they're released!
3 benefits of providing tax return information early
It may feel like it was only yesterday that you finalised your self-assessment tax return for the 2018/19 tax year.
However the uncertainty arising from the COVID-19 pandemic means there is more value than ever in supplying us with the information required to complete and file your 2019/20 tax return early.
Three potential benefits may include:
- Tax planning
- Making time for you
Selling your business amid COVID-19
Many business owners will have been contemplating the sale of their business in 2020 and then along came COVID-19 and shattered their hopes and dreams.
Or did it?
There’s no disputing that the lockdown measures have had a significant impact on the mergers and acquisitions market, but how serious is it for SME businesses who are thinking of selling their business? And what can you do now to prepare to sell your business post COVID-19?
In this article, we discuss three key actions business owners who have ‘delayed deals’ can carry out now to prepare for a future sale.
METALL webinar presentation and virtual round-table
Earlier in the month, panellists from our manufacturing forum METALL gave their thoughts on the current COVID-19 climate for manufacturing businesses.
The full presentation is available on the METALL website, along with the results from our webinar polls we took of the attendees.
The polls revealed some interesting figures from our METALL group including:
- 90% of businesses experienced a downturn in revenues over the last 2 months
- 92% had furloughed staff
- 100% of businesses were experiencing cash flow issues
- 83% were experiencing difficulties with implementing social distancing measures
- 58% were having issues with their supply chain
Following the success of the webinar, the METALL forum is hosting a virtual round-table next week for manufacturing businesses. This event will allow businesses to talk about issues, share their experiences and discuss how to operate in the current environment.
Looking after your mental health during COVID-19
Taking care of your mind as well as your body is always important, but now more than ever it is essential to look after your mental health.
For many people it is the uncertainty surrounding the Coronavirus which is the most difficult part to deal with. However, there are many things you can do, even in the face of this unique crisis, to manage stress, anxiety and fears.
Released during Mental Health Awareness week, we produced a short guide to take you through some tools to help and support you, your team and your family and friends during this time.
Covered in this guide is:
- The 3Ps of Positivity
- Managing Stress
- Meditation techniques to improve mental health
MHA Carpenter Box Wealth Management news update
Read the May Wealth Management newsletter!
Financial news has been dominated by the crisis and the Government’s reaction to it. With events changing almost daily it’s almost impossible to pick one figure that won’t be out of date within a matter of days. What we can say for sure is that the word ‘unprecedented’ continues to appear in headlines, and it seems we’ve all suddenly become aware of the word ‘furlough’.
The MHA Carpenter Box Wealth Management team put together this monthly newsletter to help keep you informed of the latest changes in the financial markets, both domestically and overseas.
This month's insightful newsletter covers:
- Coronavirus and fighting back
- Recent financial movements within the UK, including industry updates and the state of the economy
- Brexit and European news
- A global overview: the US, Far East and Emerging Markets
Not for Profit news update
Read the latest Not for Profit newsletter from the sector team.
In this issue, we continue to focus on the impact of COVID-19 and the related implications by highlighting useful resources and exploring the impact on financial reporting.
We also look at some important VAT considerations for charities that are in receipt of Government Funding grants such as the Job Retention Scheme. If your charity has a partial exemption VAT arrangement then this article is a must-read!
Additionally, we have highlighted some of the issues that charities are experiencing from their new working arrangements, for example GDPR, and some cautionary tales from a rise in fraud within the sector.
- METALL virtual round-table: 5 June – click here to register
- Coronavirus Hub
- MHA Real Estate Matters – Issue 15
- MHA The Engine – Issue 7
- Looking after your mental health during COVID-19
- Forensic accounting for charities
- How to guide: Charities and COVID-19
- Financial projections and funding support for your business
- Coronavirus: Wealth planning checklist
- Tax Rates 2020-21
- Wealth Management May newsletter
- Not for Profit May newsletter
For a full listing of our resources and information sheets, visit our resources page on the MHA Carpenter Box website.
31 May 2020
- Company accounts filing deadline
Filing deadline at Companies House of accounts for private companies with a year ended 31 August 2019 and for public companies with a year ended 30 November 2019.
- Corporation tax return
Filing deadline for corporation tax return self-assessment form CT600 for the period ended 31 May 2019 to be submitted to HMRC.
- P60 deadline
Deadline for issuing P60s to employees for 2018/19.
01 Jun 2020
- Corporation tax payment
Corporation tax payment due for year end 31 August 2019, for those companies not liable to pay their liability by instalments.
- Advisory fuel rates
New fuel rates come into force.
07 Jun 2020
- VAT return
Due date for April VAT returns unless exempted.
14 Jun 2020
- EC sales list
Deadline for paper monthly or quarterly return filing.
21 Jun 2020
Due date for payment of supplementary declarations for May 2020.
- EC sales list
Deadline for online monthly or quarterly return filing.
22 Jun 2020
- Monthly electronic PAYE/class 1 NICs/student loan payment
If paying electronically, pay PAYE, class 1 NICs, student loan deductions and deductions from payments to subcontractors for the month up to the 5th of this month.
30 Jun 2020
End of CT61 quarterly period.
- Company accounts filing deadline
Filing deadline at Companies House of accounts for private companies with a year ended 30 September 2019 and for public companies with a year ended 31 December 2019.
- Corporation tax return
Filing deadline for corporation tax return self-assessment form CT600 for the period ended 30 June 2019 to be submitted to HMRC.