The Financial Adviser reported that Chrissie Lord, Waspi’s campaign director, stated:
“We’re increasingly concerned about the disproportionate impact the outbreak is having on 1950s born women.
Like others, many Waspi women are seeing a significant impact on their livelihoods as a result of income uncertainty and difficulties accessing affordable food and other essentials.
For women who were already in serious financial difficulty as a result of mismanagement of changes to the state pension age, the impact is huge.”
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Don’t miss the deadline for filing your self -assessment tax return in order to qualify for the Self-employed Income Support Scheme (SEISS) 23 April 2020
Self-employed individuals who are yet to file their self-assessment tax return for tax year 2018-19 need to do so by 23 April 2020 in order to qualify for the Self-employed Income Support Scheme (SEISS).
The government announced the SEISS on 26 March 2020, which will provide grants to self-employed individuals who have lost profits as a result of the outbreak of coronavirus. The deadline for self-assessment tax returns under normal circumstances would have been 31 January 2020 for those submitting online, but it was extended due to COVID-19 in order to provide financial support for a wider pool of people.
Individuals can claim if they are self-employed or a member of a partnership, and they:
• Have submitted their self-assessment tax return for the tax year 2018 to 2019 (by 23 April 2020) • Traded in the tax year 2019 to 2020 • Are trading when they apply, or would be if it weren’t for coronavirus • Intend to continue to trade in the tax year 2020 to 2021 • Have lost trading profits due to coronavirus
Anybody making a claim through the scheme will need to confirm with HMRC that their business has been negatively impacted by coronavirus. HMRC will apply a risk-based approach to compliance.
Trading profits must not exceed £500,00 and must be more than half of an individual’s total income for either tax year 2018-19, or the average of tax years 2016-17, 2017-18 and 2018-19.
Find more information about the Self-employed Income Support Scheme here.
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HMRC provides an update on the Coronavirus Job Retention Scheme 23 April 2020
HMRC has circulated an update in relation to the Coronavirus Job Retention Scheme (CJRS). The online portal was launched on 20 April 2020, and at the time of writing, over 285,000 employers have already made claims through the service. One major update relates to the online calculator tool, which, initially, could only be used in relation to employees paid fixed amounts each pay period. The calculator has been enhanced so that it can also provide calculations for employees who are paid variable amounts. This should assist claimants with their calculations prior to submitting their claims.
The Chartered Institute of Payroll Professionals
Payroll: need to know
cipp.org.uk
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