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Recent news from Cottons you may have missed

Self-Employed Income Support Scheme (SEISS) – Are you eligible for a grant?

Self-Employed Income Support Scheme (SEISS) – Are you eligible for a grant?

HMRC have issued updated guidance for those that are self-employed or members of partnerships. The full guidance can be found by following the link: https://www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme#history We have prepared a brief summary of the key points to note and actions to take below: Self-Employed Income Support Scheme (SEISS) If you are self-employed or a member of ...
Updates to the Coronavirus Business Interruption Loan Scheme

Updates to the Coronavirus Business Interruption Loan Scheme

The Coronavirus Business Interruption Loan Scheme has been opened up to those smaller businesses who would have previously met the requirements for a commercial facility but would not have been eligible for the Coronavirus Business Interruption Loan Scheme (CBILS). This significantly increases the number of businesses eligible for the scheme. The expanded scheme will be ...
DIRECTORS – OWNER MANAGED COMPANIES & The Coronavirus Job Retention Scheme

DIRECTORS – OWNER MANAGED COMPANIES & The Coronavirus Job Retention Scheme

The Government has confirmed that those who pay themselves a salary and dividends through their own company are not covered by the Self-employment scheme but will be covered for their salary by the Coronavirus Job Retention Scheme if they are operating a PAYE scheme. The Coronavirus Job Retention Scheme requires that an employee is ‘furloughed’; ...
Important information for Directors of limited companies

Important information for Directors of limited companies

On Thursday the Chancellor laid out further details on support for businesses and individuals affected by the COVID-19 pandemic. This most recent guidance only applies to the self-employed (i.e. sole traders and partners of partnerships). It is important to note: It does not apply to directors of their own limited companies. The only comment we ...

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