Agent Issue: 78 published

11 June 2020

The latest issue of the Agent Update has been published and is now live on GOV.UK

Statutory Sick Pay Rebate scheme

The update includes an article on the coronavirus Statutory Sick Pay Rebate Scheme, reminding you of the conditions in which it can be reclaimed:

Employers are eligible to use the scheme if they meet all the following criteria:

  • They are claiming for an employee who is eligible for sick pay due to coronavirus
  • They have already paid the SSP to their employee
  • They had a PAYE payroll scheme in operation before 28 February 2020
  • They had fewer than 250 employees across all PAYE schemes on 28 February 2020

State aid limits

The claim amount that the business makes should not take them above the state aid limits under the EU Commission temporary framework when the amount is combined with other aid received under the framework. The maximum level of state aid that a business may receive is €800,000. There is a lower maximum for agriculture at €100,000 and aquaculture and fisheries at €120,000.

Spotlight 55

The update also includes details about Spotlight 55 which has been published to warn against the dangers of using a tax avoidance scheme that may be posing as an Umbrella Company. The spotlight is aimed at the individual tax payer and gives some warning signs to watch out for that includes the warning that advertising on a comparison website is no guarantee of legitimacy, so always check to see of the umbrella company has a company name, postal address, company registration number

Also some may have very basic web pages with little to no information. They may only have a registration form asking for personal details to receive a quote. Always do some research to verify that the scheme is legitimate. HMRC will never endorse such schemes.

Disguised remuneration

Changes to the disguised remuneration Loan Charge form is also included in the update, highlighting the deadline of 30 September 2020 to report any outstanding loans and that also that there is no an election to spread the cost of the owed balances over a three year period. Completing the form online is the quickest method, however, if a paper copy is required, a request can be made to 03000 599110.

Due to guidance being constantly updated, HMRC hope to have included the most up-to-date relevant information in this edition of the Agent Update.

Information provided in this news article may be subject to change. Please make note of the date of publication to ensure that you are viewing up to date information.