Monthly Archives: October 2020

Hot Business News Today

How to tell your staff they’re working reduced hours

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Originally written by Helen Watson on Small Business
With the Job Retention Scheme (JRS) coming to an end and the Job Support Scheme (JSS) taking its place, employers wanting to take advantage of the new scheme will need to enter discussions with staff about working reduced hours and cutting pay.
#1 – Review the employment contract
Any change to an employee’s hours of work and pay will amount to a contractual change of their current terms and conditions of employment. Despite the new government scheme being introduced, this does not give a unilateral right to change an employee’s terms and conditions of employment. It is important to review their current terms and any contractual rights to amend terms, on a temporary or permanent basis, before consulting with the employee about the proposed changes.
#2 – Consider whether reduced staff hours are appropriate
Employers should consider whether reduced staff hours are appropriate bearing in mind that the JSS is designed to support “viable” jobs only.  To be eligible for the scheme, an employer must be able to provide at least a third (33 per cent) of the employee’s normal contracted working hours. If this is not possible, then other options may be more appropriate, such as

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Hot Business News Today

Halt rollout of Making Tax Digital to smallest businesses, urge MPs

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Originally written by Timothy Adler on Small Business
The rollout of Making Tax Digital, HMRC’s rolling scheme for businesses to self-report tax owed, should be halted before it reaches the smallest of businesses.
So says the cross-party public accounts committee in its report on bridging the £31bn tax gap between tax owed and what actually comes into the Treasury’s coffers.
MPs warned that it was unclear whether the controversial rules had achieved their stated aim of reducing tax errors.
>See also: Making Tax Digital bridging software: what is it and how much does it cost?
Since April 2019, VAT-registered businesses and the self-employed people with a turnover in excess of the £85,000 VAT threshold have been forced to use accounting software when they file their returns.
From April 2022, HMRC wants all VAT-registered businesses to adhere to Making Tax Digital. Self-employed people and landlords with a turnover of more than £10,000 will face the extra requirements from 2023.
Critics say the cost of applying the new rules has been unreasonably high. A report by trade body Association of Taxation Technicians found that some small businesses had been forced to spend more than £5,000 on software and training.
>See also: Five steps for small businesses Making Tax Digital
Extending the

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Hot Business News Today

What events need is a government insurance policy, says sector

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Originally written by Timothy Adler on Small Business
Coldplay bassist Guy Berryman and ex-Dragon’s Den star Sarah Willingham have called on the government to back an insurance scheme for the events sector, similar to one already up-and-running for film and TV production.
Business heavyweights including Links of London founder John Ayton and Notonthehighstreet founder Holly Tucker have signed the letter to small business minister Paul Scully, asking for the government to think seriously about an insurance scheme which would repay organisers 70 per cent of their costs if an event is cancelled due to Covid-19.
What’s at stake is an events industry, such as weddings and music festivals, which Prime Minister Boris Johnson himself acknowledged is worth £90bn and employs 700,000 people in the UK across 25,000 businesses – none of whom have had any government sector-specific emergency coronavirus business support, unlike the hospitality industry.
>See also: 150 UK small business grants to apply for right now
The group, led by Hugo Campbell and Digby Vollrath, founders of the events planning website Feast It, said an insurance scheme for events planned from April 1 next year would give organisers confidence to plan and promote gatherings.
Nearly two thirds of events suppliers (61 per cent) surveyed by

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