Monday is the day. From the 8th August visitors arriving at Vermont House will be required to wear a face covering. This is in line with changes in Government guidance. All our arrangements remain the same as we continue to work safely whilst continuing to provide services to our clients.
Please remember to book an appointment in advance to deliver and collect books and records.
Meeting and consultations remain online or over the phone.
Are you One of the 3.4 million Self-employed individuals eligible for the Income support scheme? Learn about the Covid-19 Self-Employed Income Support Update the Second Installment. The facts.
Did you know?
As at 30th June 2020 75% have made claims totaling £7.4 billion. Construction Workers claimed £3.1 billion of this.
Construction Industry planning progress with Making Tax Digital
The Self Employed grant scheme (SEISS) has been extended. If you were eligible for the first grant and can confirm to HMRC that your business has been adversely affected on or after 14 July 2020, you’ll be able to make a claim for a second and final grant from 17 August 2020.
The scheme allows you to claim a second and final taxable grant worth 70% of your average monthly trading profits, paid out in a single installment covering 3 months’ worth of profits, and capped at £6,570 in total.
As with the first grant HMRC will contact you if you’re eligible. They will work out your eligibility for the second grant in the same way as the first grant.
You can make a claim for the second grant if you’re eligible, even if you did not make a claim for the first grant.
How the grant works
If you receive the grant you can continue to work, start a new trade or take on other employment including voluntary work. The grant does not need to be repaid but will be subject to Income Tax and National Insurance and will form part of the Income of your next set of accounts.
Who can claim?
You can claim if you’re a self-employed individual or a member of a partnership and your business has been adversely affected on or after 14 July 2020.
Your business could be adversely affected by coronavirus if, for example:
having caring responsibilities because of corona virus
you’ve had to scale down, temporarily stop trading or incurred additional costs because:
your supply chain has been interrupted
you have fewer or no customers or clients
your staff are unable to come in to work
one or more of your contracts have been cancelled
you had to buy protective equipment so you could trade following social distancing rules
We recommend that you keep evidence to confirm your business was adversely affected at the time you made your claim.
All of the following must also apply. You have:
traded in the tax year 2018 to 2019 and submitted your Self Assessment tax return on or before 23 April 2020 for that year
traded in the tax year 2019 to 2020
intended to continue to trade in the tax year 2020 to 2021
carried on a trade which has been adversely affected by coronavirus
You cannot claim the grant if you trade through a limited company or a trust.
You must make the claim yourself. We as your agent or adviser cannot claim on your behalf as this will trigger a fraud alert, and you will have to contact HMRC. This will cause a significant delay to you receiving your payment.
Deadline Date Eligibility
There is a deadline for claims being made. To claim the second and final grant you must claim on or before 19 October 2020.
and to claim you’ll need your:
Government Gateway user ID and password. If you do not have a user ID, you can create one when you make your claim
UK bank details (only provide bank account details where a Bacs payment can be accepted) including:
bank account number
sort code
name on the account
your address linked to your bank account
You’ll have to confirm to HMRC that your business has been adversely affected by coronavirus on or after 14 July 2020.
How much will you get?
The second and final grant is worth 70% of your average monthly trading profits, paid out in a single installment covering 3 months’ worth of profits, and capped at £6,570 in total. The online service from HMRC will tell you how your grant is worked out. HMRC will calculate the grant amount which will be paid directly into your bank account, in one installment. The online service is not available yet. If you’re eligible you’ll be able to make a claim for a second and final grant from 17 August 2020.
We are offering 10 FREE QuickBooks licences to the first 10 businesses that sign up for our services. The New Client Special Offer of free licence worth £250 is eligible for any business wanting to join McGinty Demack for Accounting and Taxation Services. The offer will include initial set up of your QuickBooks online bookkeeping.
The free Licences are ideal for anyone starting or thinking of starting a new business. Or existing businesses who want to make the move over to digital accounting, a requirement to meet Making Tax Digital legislation.
The Making Tax Digital new dates for registration for this have just been released with more businesses now having to comply with the digital procedures. If you or any of your contacts would like to take advantage of this fabulous offer, please contact our office to get things going. But remember there is a limit to 10 free licences on a first come basis so do not delay.
Just call 01942 322767, message us on social media or click the quick contact form below.
We are doing our best to help businesses through a very difficult period. Following our We furloughed for our clients for free campaign. We are now following this by allowing you to get MTD compliant for free.
As the country continues to climb out of lockdown we are continuing with our programme of a gradual phased reopening. Next week we will be open during our normal working hours. This will be the first time since 23rd March. But of course, we have all worked hard to ensure we provide client service to the highest possible but safe level during this period. In doing so we didn’t have to furlough any of our staff. We are extremely proud of our staff for the commitment and contribution they have made during this period. But the next phase is to get back to having staff in the office every day. By installing a new telephone system capable of video calls during lockdown gives us closer contact with clients, allowing us to continue Face to Face meetings in a digital setting. The client portal is now fully functioning bringing swifter transfer of documents to and from in a secure environment. We have installed a door entry system to the office to ensure that we have control of social distancing when visitors call in. We also took the opportunity to develop our marketing approach with the introduction of a digital brochure. This provides enquirers with easy access and a quick way of discovering our services as well as being low cost and a better environmental solution. Click here to access a copy.
We could shout out that we are ready for business, but for us it never stopped.
EVERYONE HAS A STORY…… This picture was used in our marketing plan prior to the Pandemic. We have used it to remind us.
Today is another step towards reopening our office in Vermont House. Below are the McGinty Demack Office Details related to this reopening.
Since around the 9th March, some of our staff started to relocate and work from home. This ensured we were ready by the time the Government instituted lockdown measures on 23rd March.
Opening Times
Today, Monday 22nd June we are beginning a gradual return back to the office. This will be phased. So, initially we will open all day on Monday, Wednesday and Friday each week. There will be limited staff on site which will increase the times when books and records can be collected and dropped off. The majority of staff will remain working remotely in line with Governments advice.
Access
McGinty Demack Office Details also include making the office Covid-19 secure following our full risk assessment. To do this we have installed a door entry system to manage access into the building. Inside there is hand sanitising equipment and disinfectant wipes which are available to prevent the virus spread. If our initial steps remain successful and in line with the Government and industry guidance we will extend to include full weekly opening with more staff beginning to return to the office.
Like everyone else, we are all hoping to be able to make changes to relax the controls in place, so that we can return to a normal working environment. As we do, we will continue to update you through website posts and on social media.
As always we will do the upmost to support our clients during this period. So if you need any help with the services we provide please do not hesitate to contact us.