Concerns continue to grow regarding absences from work during the Coronavirus pandemic. Virus counter-measures requires a significant number of employees having to self-isolate if they are feeling sick or who have returned from other affected areas worldwide.
To help support small and medium sized businesses, the government has announced that these employers will be able to reclaim Statutory Sick Pay (SSP) for eligible employees who have been off work because of the Coronavirus. The plans were announced as part of the Budget measures to help support businesses and individuals with the economic disruption caused by the outbreak.
To cope with this change, the government will need to set-up a repayment mechanism for affected employers as existing systems are not designed to facilitate employer refunds for SSP.
The main eligibility criteria of the scheme are as follows:
The Chancellor also hinted that there would be further support for incomes and jobs when he announced additional support to protect businesses on 17 March 2020. We will of course keep you informed of any further changes.
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The tax legislation requires the deduction of tax from yearly interest that arises in the UK. This typically refers to
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For the current tax year, taxpayers with adjusted net income between £100,000 and £125,140 will face an effective
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