Coronavirus Job Retention Scheme Extended

The Coronavirus Job Retention Scheme is being extended until 31st March 2021.

As a result of the ongoing pandemic, the governments response has been to extend the furlough scheme at the original 80% level.  For now we know this will extend through to then end of March 2021.

From 1st November 2020 you can claim 80% of an employee’s usual salary for hours not worked, up to a maximum of £2,500 per month. You can claim for employees who were employed on 30th October 2020, as long as you have made a PAYE RTI submission to HMRC between the 20th March 2020 and 30th October 2020, notifying a payment of earnings for that employee. You do not need to have previously claimed for an employee before the 30 October 2020 to claim for periods from 1 November 2020.

There is no maximum number of employees you can claim for from 1st November 2020.

All claims for periods from 1st July 2020 through to 31st October 2020 must be submitted by no later than 30th November 2020.

Claims from 1st November 2020 must be submitted by 11.59pm 14-calendar days after the month you’re claiming for. If this time falls on the weekend or a bank holiday then claims should be submitted on the next working day.

Claim for furlough days in Claim must be submitted by
November 2020 14 December 2020
December 2020 14 January 2021
January 2021 15 February 2021
February 2021 15 March 2021
March 2021 14 April 2021

At Taxfile, we can calculate furlough payments for your staff and ensure that all your submissions are done on time.  If you need to outsource the payroll for your business, then you can call us on 020 8761 8000.

Taxfile multi-lingual staff at a glance

Taxfile’s multi-lingual, multi-talented staff, at a glance

multi-lingual accountants and tax advisers[Updated]: It’s common knowledge that most of Taxfile’s South London staff are multi-lingual but can you guess which staff member speaks no less than four languages fluently (Russian, Pashto, Dari and English) and which staff member is into both metal music and Irish dancing? And who should you ask for if you need payroll services? And who specialises in bookkeeping … who in limited company accounts and so on? Our staff ‘mind map’ tells you a bit more about each member of the team, what their specialities are, key interests and, of course, their contact details in case you ever need their help. Take a look … Read more

RTI (Real Time Information) – last Full Payment Submission (FPS) due soon

Exactly eleven months ago at time of writing, HMRC launched ‘RTI’ (Real Time Information) in the UK. This is the mechanism through which employees now have to report PAYE information for employees on the day it actually happens, or alternatively before that day, for example to confirm to HMRC each time an employee is paid through PAYE, including any NI or Income Tax deductions. RTI is, almost without exception, for all employees including those whose earnings fall below the NIC’s Lower Earnings Limit (‘LEL’), e.g. students.

The RTI reporting has to be done electronically using payroll software, whether that’s the employer themselves reporting it, or their nominated accountant, payroll bureau or bookkeeper. The information reported to HMRC will also now need to include new information which includes the usual hours worked by each employee and any unusual break in the normal working pattern, for instance if an employee takes unpaid leave. RTI also includes other changes to how various things are reported e.g. starter and leaver dates and also employers no longer need to submit end of year forms P14 and P35 because this will be handled on the last Full Payment Submission (‘FPS’) for the tax year in question – this is due in less than a month  at time of writing as the new tax year begins Read more