Day: May 6, 2020

SMEs making errors on furlough applications risks unexpected HMRC bills

Many SMEs are making errors on their applications for the Government’s furlough scheme, meaning they will have to repay thousands of pounds back to HMRC later.

The firm explains that it has seen many small business applications for the furlough grant* that includes the cost of their Employer’s National Insurance Contributions (NICs) for furloughed employees. However, for many SMEs that cost is already being covered by the Government.

Under the existing Employment Allowance, businesses that pay less than £100,000 in NICs each year can apply for up to £4,000 of tax relief on that bill. This relief is used by many micro-businesses to reduce their National Insurance bills to zero.

HMRC is currently paying furlough scheme claims to businesses as quickly as possible – but UHY Hacker Young says that those who overclaim by mistake will have to pay that money back to HMRC later. This is an unexpected cost

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Netflix lays out plans to reopen production on shows and films

Netflix has laid out plans to reopen production on its shows and films, outlining a new normal for Hollywood sets that involves daily temperature checks, boxed lunches instead of buffet-style tables and disposable applicators for make-up.

The streaming company, which produces local language movies and television series across the globe, has already begun shooting again in South Korea, Japan and Iceland, said Ted Sarandos, chief content officer. It plans to resume production in Sweden this month, and Norway in July.

TV and movie sets closed across the US from March, delaying the production of hits such as Stranger Things and Succession, and affecting companies from industry giants like Disney to small independent film studios. Thousands of employees have been laid off or furloughed.

“Because Netflix shows and films are made around the globe, we’re starting to learn how to get production going again despite the crisis,” Mr Sarandos wrote in

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ASX dips as banks show weakness

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Buffalo Business First promotes ME Collins to editor in chief

Donna Collins

Buffalo Business First has promoted Donna Collins to editor-in-chief from her previous position as managing editor, reports Michelle Cicci of the paper.

Cicci reports, “Collins is an original employee of Business First, which launched in 1984 as the seventh newspaper at American City Business Journals, the largest publisher of local business news in the country.

Read more here. She replaces Jeff Wright, who retired.

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