Following on from the budget announcement on Wednesday here are some of the main issues that are likely to affect your club. Statutory sick pay will be paid to all those or those advised to self-isolate (by a health professional), and those caring for others who self-isolate, even if they don't have symptoms of Coronaviris (COVID 19). Self-employed workers who are not eligible for sick pay will be able to claim contributory Employment Support Allowance. The money will be available from day one, not after a week as now. Firms with fewer than 250 staff will be refunded for sick pay payments for two weeks Contributory employment Support Allowance benefit claimants will be able to claim sick pay on day one, not after a week. Small firms will be able to access "business interruption" loans of up to £1.2m Business rates will be abolished for firms in the retail, leisure and hospitality sectors with a rateable value below £51,000. Launching a fundamental review of business rates that will report in the autumn National Insurance Contributions tax threshold to rise from £8,632 to £9,500 - saving most taxpayers just over £100 a year. The Employment Allowance for Employer National Insurance Contributions is increasing from £3,000 to £4,000, but it will not be automatically credited you will now have to claim it. The Chancellor also announced the end of tax relief on red diesel in all sectors except agriculture, fish farming and non-commercial heating. Buyers of red diesel currently pay 11p per litre of tax on fuel, compared with 58p for regular buyers who pay the standard rate. As it stands HMRC, whilst agreeing that horticulture is agriculture when considering Road Tax, state that ‘ we do not regard as horticulture the landscaping and maintenance of grassy recreational areas, such as playing fields and golf courses, or the grassed areas of parks that are made available for walks, picnics and general recreation.’ Therefore, it remains to be seen whether this will hold for the duty on red diesel. Fuel duty has been frozen. Duties on spirits, beer, cider and wine have also been frozen. Tobacco taxes will continue to rise by 2% above the rate of retail price inflation The Climate Change Levy on electricity has been frozen and the levy that businesses pay on gas is being increased to bring it into line with the electricity levy. The full details of the budget can be found here: - https://www.gov.uk/government/publications/budget-2020-documents/budget-2020
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