The Coronavirus Job Retention Scheme (CJRS) began in March 2020 and was a lifeline to many businesses. Due to the impact and how quickly the pandemic took hold, a quick response by government to support businesses was the focus. This meant that HMRC issued funds through the CJRS with the confirmation that compliance checks would be carried out in the future, rather than completing checks in the moment.
Family firms are the engine room of the Scottish economy, and they continue to contribute significantly to employment, economic output and the creation of wealth, on top of making a real impact on the communities in which they are located.
HMRC have now confirmed that the fifth SEISS grant will be available from late July 2021. The fifth grant will be taxable, paid in a single instalment and will cover May 2021 to September 2021.
With the last week finally showing glimpses of summer, vaccinations continuing to be administered at pace, along with further easement of restrictions, changes towards what employers are able to claim will change from July 2021.
At AAB we’re always looking to progress both to enhance our awesome client experience and provide a platform for our people which reflects this. The latest changes follow discussions and feedback from the team around working policies in ‘the next normal’. As a result, we are happy to announce that we have introduced hybrid working for all staff (as of 1 April 2021) and enshrined this in our employment contracts for all existing and new staff across our offices in Aberdeen, Edinburgh and London.
The UK Government’s £75bn Recovery Loan Scheme (RLS), launched earlier this week, to provide financial support to businesses affected by the pandemic. The scheme, which will be open until 31 December 2021, can be accessed to fund working capital, investment and growth. There is no turnover restriction for businesses accessing the scheme.