Blog
Four things you didn’t know your accountant could assist with
Everybody is fully aware that an accountant can play a key role in ensuring that your taxes get filed on time, meaning you’ll never end up with a pesky fine. However, far from simply being there to balance the books, accountants...
Deadline for applying for COVID-19 finance extended
The Government launched four temporary Government-backed schemes to provide finance to businesses struggling as a result of the COVID-19 pandemic: the Bounce Back Loan Scheme (BBLS); the Coronavirus Business Interruption Loan Scheme (CBILS); the Coronavirus...
New rules for claims under the CJRS
New rules for claims under the CJRS The second and final phase of the Coronavirus Job Retention Scheme (CJRS) runs from 1 July 2020 to 31 October 2020. During this phase, furloughed workers may return to work part-time under the flexible furloughing provisions. New...
Reduced rate of VAT for the hospitality sector
To support businesses and jobs in the hospitality sector, the reduced (5%) rate of VAT applies to supplies of food and non-alcoholic drinks from restaurants, pubs, bars, cafés and similar establishment across the UK for a temporary period from 15 July 2020 to 12...
Changes to trading activities as a result of COVID-19
Changes to trading activities as a result of COVID-19 The COVID-19 pandemic and restrictions on trade have led many businesses to change what they do in a bid to survive. An example of this is the village pub opening instead as a local shop selling food and other...
SEISS extended
The Self-Employment Income Support Scheme (SEISS) has been extended. Eligible self-employed taxpayers will be able to claim a second, and final, grant under the scheme in August. Eligibility The eligibility criteria for the second grant are the same as the first. To...
Flexible furloughing
The Coronavirus Job Retention Scheme (CJRS) has provided a lifeline for many employees and employers during the COVID-19 pandemic. As at 21 June 2020, 9.2 million employees had been furloughed by 1.1 million employers who had, collectively, claimed grants totalling...
NIC implications of COVID-19 support payments
Various support payments have been made to help those affected by the COVID-19 pandemic. How are those payments treated for National Insurance purposes? Grant payments under the CJRS Where an employer claims a grant payment under the Coronavirus Job Retention Scheme...
Option to defer July self-assessment payment on account
Taxpayers facing financial difficulties as a result of the COVID-19 pandemic can opt to delay making their second self-assessment payment on account for 2019/20, due by 31 July 2020. As long as the amount is paid in full, together with any outstanding balance for...