There are a number of Government support measures to help businesses through the coronavirus pandemic, as well as various business tax obligations being deferred. However, it can be difficult to keep track of all of the dates, deadlines and requirements, with many being amended, delayed or deferred over the past few months.
That’s why we have put together an outline of the key dates, with opening dates for applications for schemes, deadlines for submitted claims and postponed payment dates for deferred taxes, to help you plan for your cashflow requirements.
1 July 2020
- The second phase of the CJRS takes effect, but this is only for employees that have already completed a 21 day period on furlough leave
- The scheme will still cover 80 per cent of the furloughed employee’s wages for the time that they are on furlough leave, as well as the employer’s NIC and employer’s minimum pension contributions
6 July 2020
- P11D and P11D(b) forms for 2019/20 must be submitted to HMRC, with employees also being supplied with a copy
13 July 2020
- Applications for the first Self-Employment Income Support Scheme (SEISS) grant must be submitted by 13 July 2020
14 July 2020
- Claimants for the second SEISS grant must confirm that their income was affected by the COVID-19 pandemic on or after this date, with the portal set to open in August
31 July 2020
- CJRS claims for the period ending 30 June 2020 must be submitted by 31 July
- Self-assessment payment on account of income tax and Class 4 NIC for 2019/20 would be due by this date, but all payments are automatically deferred. If this is deferred, it must be paid by 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
- The CJRS closes. Employees can no longer be furloughed after this date.
30 November 2020
- This is the last date for employers to make claims for the CJRS
31 January 2021
- Deadline for Self-Assessment payments on account deferred from 31 July 2020
1 March 2021
- The Domestic VAT reverse charge for the construction industry comes into effect, having been delayed from 1 October 2020
31 March 2021
- Deadline for payments of VAT payments deferred between March and June 2020.
For help and advice, contact our expert team today.