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Since the Coronavirus Job Retention Scheme (CJRS) went live in March, over one million businesses have made a claim. As a result, over 9 million employees have been able to keep their job, as they have been placed on furloughed leave.
In July’s Summer Statement (8 July), Chancellor Rishi Sunak announced a series of packages “to support jobs in every part of the country, give businesses the confidence to retain and hire, and provide people with the tools they need to get better jobs.” One of these packages is the Job Retention Bonus.
More information on the Job Retention Bonus is scheduled to be available later in July. However, keep reading and find out what we already know about the Job Retention Bonus, and whether or not it could be useful for contractors operating through a personal service company (PSC).

In a bid to tackle fraud in the construction industry, HMRC will be introducing a domestic reverse charge which will take effect from 1st March 2021. The new legislation will only apply to specific building and construction services and will mean that the customer will now be liable to account for the VAT on purchases.

The Employment Allowance allows eligible businesses in the UK to reduce their annual National Insurance liability by up to £4,000. Our blog explores how the allowance works and how your company could benefit from it.

Rishi Sunak unveils stamp duty holiday, furlough bonus and VAT cuts in the hospitality sector as part of £30bn plan to prevent mass unemployment and kickstart the economy.

The coronavirus pandemic has put monumental stress on key workers in the UK, including NHS staff, carers and emergency workers. To show their appreciation, businesses have been offering key workers special discounts and offers. However, HMRC has been made aware of multiple tax avoidance schemes that have been targeting key workers (especially NHS) and trying to mislead them into avoiding their legal tax responsibilities.

The coronavirus pandemic has put monumental stress on key workers in the UK, including NHS staff, carers and emergency workers. To show their appreciation, businesses have been offering key workers special discounts and offers. However, HMRC has been made aware of multiple tax avoidance schemes that have been targeting key workers (especially NHS) and trying to mislead them into avoiding their legal tax responsibilities.

If we rewind to 17th March this year, the Government announced they would be delaying off-payroll (IR35) in the private sector by 12 months. However, despite the delay, they have faced much scrutiny from professional bodies, temporary workers and employment agencies – because they all believe the legislation should be overhauled, or scrapped entirely.

As part of their coronavirus support strategy, the government has introduced bounce-back loans for small and medium-sized businesses. Formally known as The Bounce Back Loan Scheme (BBLS), our limited company clients could be able to borrow between £2,000 and up to 25% of their turnover. The maximum amount available as part of the BBLS is £50,000. However, should you require more, additional government support may be available through other avenues.

Starting this week, Churchill Knight Umbrella will start processing furlough pay for our eligible clients on 80% of total earnings (up to £2,500.00 per month) with first payments due to begin this week.

Churchill Knight is aware that there is a lot of open discussions about umbrella companies and the furloughing of their clients on social media. We are pleased that that concerned parties are looking for answers on social media – as this is precisely what it is there for. However, we’re worried that several groups are claiming to have umbrella employees interests at heart, but are sharing incorrect and misleading information.