Key dates for Coronavirus support schemes
With numerous Government schemes open to businesses and individuals to help deal with the impact of the Coronavirus outbreak, there are dozens of key dates to be aware of in the coming months, including:
30 June 2020
End date of the VAT deferral scheme. VAT Payments after this date must be paid as usual, while deferred payments must be made by 31 March 2021.
1 July 2020
Flexible furlough arrangements become available for employers of employees who have previously completed a 21-day period of furlough.
6 July 2020
P11D and P11D(b) deadline for 2019/20.
13 July 2020
Closing date for the first round of the Self-Employment Income Support Scheme (SEISS).
14 July 2020
Claims open for second round of the Self-Employment Income Support Scheme (SEISS).
31 July 2020
Deadline for the submission of Coronavirus Job Retention Scheme (CJRS) claims for period of furlough up to 30 June 2020.
Usual due-date for Self-Assessment payment on account for 2019/20 Income Tax and Class 4 National Insurance Contributions (NICs). However, this is subject to an automatic deferral and you can delay your payment up until 31 January 2021.
1 August 2020
Grants from the CJRS cease to cover employer NICs and minimum automatic enrolment pension contributions.
1 September 2020
Grants from the CJRS taper down to 70 per cent of a furloughed employee’s usual wages up to £2,187.50 a month, with the employer required to contribute another 10 per cent, so that furloughed employees continue to receive 80 per cent of their usual wages.
1 October 2020
Grants from the CJRS taper down to 60 per cent of a furloughed employee’s usual wages up to £1,875 a month, with the employer required to contribute another 20 per cent, so that furloughed employees continue to receive 80 per cent of their usual wages.
31 October 2020
CJRS closes. Employees can no longer be furloughed after this date.
30 November 2020
Last date for making claims for the CJRS.
31 January 2021
Deadline for Self-Assessment payments on account deferred from 31 July 2020.
31 March 2021
Deadline for payments of VAT payments deferred between March and June 2020.
We have also prepared a PDF booklet of Government support timeframes to help clarify the support available at any point in time over the coming months.
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- Self-Employment Income Support Scheme (SEISS) extended
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- Maximum Government-backed loan amount for larger businesses increased to £200 million
- Temporary tax freeze on home office expenditure announced
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- Owner Managed and Family Businesses
- Cashflow projections and budget assistance
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- R&D Tax Credits
- Dividend Tax Planning
- Inheritance Tax
- Business Advisory Services
- Contracts & Agreements
- Assistance with business plans and pricing reviews
- Payroll & HR advice
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- Employment contracts – changes to package and benefits
- Furlough – continuation and return to work
- Business Finance
- Loans and other methods of finance
- Property Owners
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