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Government financial support for UK businesses affected by the COVID pandemic have been extended in the past week. Thankfully, relief for employees of affected companies and the self-employed have been announced in tandem. A short summary of the main changes follows: Coronavirus Job Retention Scheme (CJRS) This furlough scheme will
Government have recently promoted their online webinars that aim to support businesses who will be affected by the end of the EU exit transition period, 31 December 2020. Here’s what the Department for Business, Energy and Industrial activity have to say: Over 3,000 people have attended government webinars to help
Many of us have taken the step from manual to digital accounting systems. But are you making the most of features provided? Without a doubt, accounts software offers a wealth of reports many of which will likely be of limited use to businesses, however, many will be of use. There
Readers with children at university should pass on this message as students starting university this year are being warned by HMRC that they could be targeted by a fresh wave of tax scams. As new students start the academic year, they can be particularly vulnerable to cybercrime. With universities taking
Brits will be able to get cashback from shops without needing to buy anything under new proposals to protect the UK’s cash system announced 15 October 2020. Under the government proposals, cashback without a purchase could be widely available from retailers of all sizes in local communities across the UK.
The present rate of Inheritance Tax (IHT) that is payable by your executors on your taxable estate is 40%. The good news is that you can reduce the impact of this tax, which effectively reduces the amount of your hard-won assets that is received by your beneficiaries. For example: The
For many years Chancellors have threatened to reduce the Income Tax relief that can be claimed for payments into a private pension scheme. There have been reductions in the amount of contributions that can be made and the size of the pension fund that can be accumulated, but thus far,
1 November 2020 – Due date for Corporation Tax due for the year ended 31 January 2020. 19 November 2020 – PAYE and NIC deductions due for month ended 5 November 2020. (If you pay your tax electronically the due date is 22 November 2020.) 19 November 2020 – Filing
HMRC have recently published a press release entitled “Just 100 days left for Self -Assessment”. Before readers make the obvious connection, that this heralds the end of tax returns in the UK, it is purely a reminder that 2019-20 Self-Assessment returns need to be filed by 31 January 2021. Gathering
The revised Job Support Scheme (JSS) announced in the last few days comes in two varieties: Open and Closed. JSS Open Businesses in Tier 2 areas, that suffer the restrictions to sociability rules, never-the-less are not required to close. This is an insidious outcome for these traders, particularly those in
