• Farrell & Farrell

UK COVID-19 UPDATE - Further Support Announcement

The Chancellor has today announced further financial support updates for the self-employed and employers impacted as a result of COVID-19 as follows:-

  • CORONAVIRUS JOB RETENTION SCHEME (CJRS) – Further extended to the end of March 2021, HMRC to pay 80% of employees normal wages for hours not worked up to a max. £2,500 p/m (subject to review in January). Employers do not need to have previously used the scheme. Any employees claimed for must have been included on the RTI submission to HMRC by 30 October 2020 notifying payment.

  • JOB RETENTION BONUS – The Job Retention Bonus will no longer be paid in February 2021 and will “fall away” as a result of the extension to the CJRS scheme. It is not clear whether an alternative retention incentive may be available at a later date.

  • SELF EMPLOYED INCOME SUPPORT SCHEME (SEISS) – Increase to the grant available covering November 2020 – January 2021 to 80% of average monthly trading profits up to a max £7,500.

Detailed guidance on the above measures to follow.

9 views0 comments

Recent Posts

See All

The UK National Minimum Wage

The UK national minimum wage will increase from 1 April 2021. The rates for the various groups of workers can be viewed in the following attachment. A breach of this legislation is a criminal offenc

Self Assessment Late Payment Penalties

HMRC: no late payment 5% penalty for self assessment taxpayers HMRC have announced that they will not impose a 5% late payment penalty if taxpayers pay their tax or set up a payment plan by midnight o


The deadline for claiming the third grant under the HMRC Self Employment Income Support Scheme is Friday, 29 January 2021.

35 Main Street
County Down
BT34 5UJ

Tel:      028 4063 0876

Fax:     028 4063 2648

Email:  info@farrellca.com

  • Facebook - Black Circle
  • Twitter - Black Circle
  • LinkedIn - Black Circle

Farrell & Farrell CA Limited (trading as Farrell & Farrell) is registered in NI with registration number NI 639336. Registered with The Chartered Institute of Taxation as a firm of Chartered Tax Advisers. Registered to carry on audit work and regulated for a range of investment business activities by Chartered Accountants Ireland (CAI). Details about our audit registration can be viewed at www.auditregister.org.uk under reference number 3044856.