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Newsletter issue - January 2021

With much of the country entering Tier 3 restrictions around Christmas, and Wales being put back into a stay at home lockdown from 28 December, it is inevitable that there would be further announcements made with respect to business-related COVID-19 measures.

Extension of furlough scheme

The Coronavirus Job Retention Scheme (CJRS) was initially supposed to end on 31 October 2020. However, this was extended to 31 March. On 17 December, the Chancellor announced that the scheme would be further extended to the end of April 2021. The government will therefore continue to pay 80% of the salaries of furloughed employees for an additional month. There are no changes to the eligibility criteria.

Extension of loan schemes

At the same time, the Chancellor also announced that the COVID-19 business loan schemes would be extended to the end of March 2021. There will also be support available after that date by way of a successor loan scheme.

Third SEISS grant deadline approaching

Self-employed individuals who wish to make a claim for the third self-employment income support (SEISS) grant for the period 1 November 2020 to 29 January 2021 must make their claim by 29 January 2021. Only businesses that were eligible for the first and second SEISS grants can claim. A claim should be made online here. The individual will need to keep evidence to demonstrate that the business has been impacted by COVID-19 in the claim period.

Budget

The Budget will take place on 3 March 2021. This will contain details of the next phase of COVID-19 support measures. It has also been speculated that there will be tax-related announcements with a view to increasing revenue to pay for the support offered during the pandemic. Whilst speculation is usual prior to Budget day, rumours may have more foundation this year given the current circumstances

 

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What our clients say

Dakins Property Services

Great Results, Personable, High Integrity

Choice Events Limited

All at Beauchamp Charles are very helpful, approachable and easy to talk to. They keep me informed with key dates; I can feel totally confident that I won't ever miss any deadlines! Whoever I deal with, always deal with matters professionally and efficiently and if they are unavailable they get back to me promptly.

FT leisure Ltd

I have worked with Beauchamp Charles as our management accountants for over 20 years and have never received anything less than exceptional service. Their approach is both professional and personal. Finances and particularly tax strategies are a minefield for small businesses; Beauchamp Charles have in-depth knowledge of these area, which is comforting. They pay very close attention to our business activities and have provided financial strategies that have helped our company develop.

Fredrick Thomas Electrical and Maintenance

We have used Beauchamp Charles since company formation back in 1998. Beauchamp Charles offers us a one to one service as they are small enough to offer this dedicated service and large enough to do the work and offer best advice. They get to know us as individuals and a business, always giving sound advice. Frederick Thomas Electrical are in a stronger place thanks to the service we get from them.

Barnes Walker Landscapes Limited

We are a small business and had employed the same accountancy firm for many years. Two years ago we took the decision to switch to Beauchamp Charles after several othe local businesses recommended them very highly to us. We have not been disappointed with the service they have provided to us over these last two years.