Starting your company can be a very exciting time. You’ve had the idea to sell products or services, you’ve got a premises sorted out and you’re ready to get going in your day to day operation. However, one key aspect that many people forget is the documentation side of setting up a business. Here are a few of the core tasks, and what you can do to get up and running quickly.

Register the company

With a second England wide lockdown announced by the Prime Minister, Boris Johnson (PM), on 31/10/2020, the long road to economic recovery is about to hit another bump. Following this news, we quickly learnt that the Furlough Scheme was to be extended for a further month to cover this new lockdown period. With employees unable to work, again being able to claim 80% of their wages, those who were self-employed were left in a state of limbo: unclear as to what, if any, support was on the horizon.

The announcement

The Chancellor has announced that CJRS will be extended until the end of March 2021 for all parts of the UK. For claim periods running to 31 January 2021, the UK Government will pay 80% of employees’ usual wages for hours not worked, up to a cap of £2,500 per month. The UK Government will review the policy in January to decide whether economic circumstances are improving enough to ask employers to contribute more.

HMRC believe that its customers want to pay the right amount of tax and wants to help those that aren’t paying the right amount to put that right.

The Let Property Campaign is an opportunity for landlords who owe tax through letting out residential property,panerai replica watches to get up to date with their tax affairs in a simple, straightforward way and take advantage of the best possible terms.

If you are a landlord and you’ve undisclosed income you must tell HMRC about any unpaid tax now. You’ll then have 90 days to calculate and pay what you owe.

The Government has announced a package of new measures aimed at helping workers affected by the ongoing coronavirus crisis, including a new Job Support Scheme which will contribute to some employees' wages, and a limited extension of the Self-Employment Income Support Scheme.

Here are the key announcements at a glance: