Weekly update 4 June 2021

Welcome to the latest edition of our weekly update.

This week, we have rounded up a number of news stories across SME schemes, employer updates, Covid support grants and pensions. 

Cash boost for apprenticeships launched

Employers of all sizes in England can now apply for extra funding to help them take on new apprentices. The incentive scheme was originally confirmed by the chanceller in the spring budget.   

• Businesses can apply to claim £3,000 for each new apprentice hired as a new employee
• To be eligible, employees must be hired between 1^st April and 30^th September 2021

Self-employed 5^th Grant

If you are a self-employed, a fifth grant covering May to September 2021 will be open to claims from late July.

• The grant is taxable and will be paid out in a single instalment
• Guidance for claiming the grant will be available by the end of June 2021

Pension Dashboard

Pension savers hoping to see all their retirement pots in one place online, will now likely have to wait until at least 2025 for the pension’s dashboard to be fully formed.

• The dashboards will allow savers to view all their various pension pots in one place
• This includes the government pensions and any private pensions

Import Tariffs

UK firms will be given further help to become more globally competitive in a new scheme to suspend tariffs on certain imports, lowering production costs.   

• Firms will be able to apply for duties on goods they import to be temporarily reduced or withdrawn
• The scheme will allocate suspensions on any import that satisfies the criteria at Gov.uk

Weekly snippets:

• CRJS: New template allows employers to upload details for claims of 16 to 99 employees
• HMRC: No returns for trustees reliant on small savings income until at least 2023/24
• UK manufacturing growth at 30-year high

Upcoming Key Dates:

For tax filing deadline and key dates in June 2021, click here

Recent blogs: 

Bounce Back Loan Fraud investigations

EU VAT changes for UK retails businesses

SME Brexit support fund

Options for UK importers for dealing with Import VAT

Employers to chip in 10% in Furlough

5th Self employed grant

Furlough & Self employed grant report