HMRC allows a company to claim £150 per employee in tax relief for a christmas party or meal.
If you withdraw more money from your Limited company than there are profits, this is known as a Directors loan.
Local lockdown furlough payments. From 1st November 2020 for 6 months, if your business has been forced to close in a local lockdown area due to coronavirus, you can claim 2/3rds of your staff members salary as a furlough payment up to £2,100 per month per staff member.
Yesterday the Chancellor announced the Jobs support scheme to replace the furlough scheme from 1st November.
Employees may be able to claim tax relief if they are working from home for their Employer.
If you are paying low amounts of National Insurance to save PAYE, please go to the HMRC website and use your National Insurance number to check your lifetime contributions.
From August 17th you can apply for your second corona virus support grant.
Remember to pay your second payment on account for personal 2020 tax by 31st July.
Furlough scheme – from 1st July staff can be furloughed part time on a daily basis instead of the current 3 week minimum furlough period.