Posted 22/03/2021 The Restart Grant scheme supports businesses in reopening safely as COVID-19 restrictions are lifted. Grants will be available from 1 April 2021, but you can submit applications in advance. Eligible businesses in the non-essential retail, hospitality, accommodation, leisure, personal care and gym sectors may be entitled to a one-off cash grant of up…Read More
Posted 22/03/2021 What is IR35? The IR35 rules were introduced so that workers, who provide their services through their own Limited Company (Personal Service Company or PSC) , pay broadly the same Income Tax & National Insurance Contributions as employee’s. If you are a PSC worker providing your services in the same was as an…Read More
Posted 16/03/2021 The SME Brexit Support Fund could give you up to £2,000 to help with training or professional advice, if your business has up to 500 employees and no more than £100 million annual turnover. Traders can apply for up to £2,000 in total through two types of grants: Grant for Training: The grants can…Read More
Posted 15/03/2021 Closed Businesses Lockdown Payment – England Eligible businesses may be entitled to a one-off cash grant of up to £9,000 from their local council. Local councils will pay the same businesses that are eligible to receive the Local Restrictions Support Grant (Closed) Addendum for the national lockdown period that began on 5 January.…Read More
Posted 15/03/2021 Businesses who deferred their VAT payments between 20 March and 30 June 2020 can either make the payment by 31 March 2021 or join the VAT deferral new payment scheme. The VAT deferral new payment scheme is open up to and including 21 June 2021. The new scheme lets you: pay your deferred…Read More
Posted 12/03/2021 NMW & Employment Allowance National minimum wage rates from 1st April 2021 Age of Worker Rate per Hour Age 23+ £8.91 21 and 22 £8.36 18-20 £6.56 Under 18 £4.62 Apprentice £4.30 Beware of traps for employees getting older, they need to be moved up the scale Don’t forget the employment allowance up…Read More
Posted 09/03/2021 Full guidance was issued by HM Treasury to support the Budget on 3rd March 2021: https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/966868/BUDGET_2021_-_web.pdf The main points are summarised below. CJRS FURLOUGH SCHEME EXTENDED TO 30 SEPTEMBER The current version of the furlough scheme that started on 1 November 2020 was scheduled to end on 30 April 2021. The chancellor announced…Read More
Posted 09/02/2021 INTRODUCTION New VAT rules are due to come into effect this March which will impact on accounting for VAT for transactions in the construction sector. The new rules are called “the domestic reverse charge for supplies of building and construction services”. The new “reverse charge” system of VAT accounting will affect sub- contractors…Read More
Posted 20/01/2021 The Financial Conduct Authority (FCA) has won its court case to get insurers to pay out for business interruption due to the first lockdown in the spring of 2020. The Supreme Court says it “substantially allows” the appeal by the FCA and hospitality groups. The decision affects approximately 370,000 policyholders and over £1billion…Read More
Posted 02/12/2020 A one-off £1,000 grant for ‘wet-led pubs’ across tiers 2 and 3 in lieu of Christmas trade has been announced. Pubs that predominantly serve alcohol rather than provide food will be eligible for the grant. The payment will be a one-off for December and will be paid on top on the existing £3,000…Read More
Posted 18/11/2020 Additional support may currently be available for businesses affected by Covid 19 restrictions. Businesses who have had to close during the second lockdown may be eligible for the LRSG (Closed) or the ARG. The LRSG (Closed) will provide a grant of up to £3,000.00 per 28 days, based on the rateable value of…Read More
Posted 17/11/2020 The Government has announced that it is extending the current temporary level of the Annual Investment Allowance (AIA) of £1,000,000 by one year covering 1 January to 31 December 2021; the legislation will be introduced before the end of the financial year. This extension gives enhanced tax relief and simplifies taxes on plant…Read More
Posted 09/11/2020 Within last weeks guidance regarding the Job Retention Scheme being extended, a paragraph was also included to say that the Job Retention Bonus will no longer be paid in February 2021. The Government have stated that an alternative retention incentive will be put in place at the appropriate time. For details of the…Read More
Posted 09/11/2020 Last week, the Chancellor announced that the UK Government is increasing the overall level of the next SEISS grant from 55% to 80% of trading profits. This grant will cover a three-month period from the start of November until the end of January. The UK Government will pay a taxable grant which is…Read More
Posted 09/11/20 As the lockdown has now started for England and continues elsewhere, the Government has extended the Coronavirus Job Retention Scheme (CJRS) across all regions of the UK. The Chancellor announced that CJRS will be extended until the end of March 2021 for all parts of the UK. For claim periods running to 31…Read More
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