COVID-19: The key dates for your tax diary

Posted on July 1, 2020 Posted in - Accountancy, Accounting, Blog, Business, Covid-19, Covid-19 Economy, Covid-19 Job Retention Scheme & Furloughing, Covid-19 Loans, Covid-19 Personal taxes and finances, Covid-19 Self Employed, COVID-19 Updates, Covid-19 – MTD & VAT, covid-19-update, Economy, Employment, Employment and payroll, Family Businesses, Government Funding, Grants and Deferrals, HMRC, SME, SMEs, SMEs / Business, Tax, VAT, VAT deferral

There are a number of Government support measures to help businesses through the coronavirus pandemic, as well as various business tax obligations being deferred. However, it can be difficult to keep track of all of the dates, deadlines and requirements, with many being amended, delayed or deferred over the past few months. Read more…

COVID-19: UK businesses owed more than £133 billion since lockdown began

Posted on June 24, 2020 Posted in - Accountancy, Accounting, Blog, Business, CBILS Loans, Covid-19, Covid-19 Economy, COVID-19 Updates, covid-19-update, Economy, Family Businesses, Finance, Loans, Reliefs & Deferrals, SME, SMEs, SMEs / Business

UK businesses are owed more than £133 billion since the lockdown measures began in March, with the average business waiting on £148,917 for work that was completed before the lockdown. Read more…

New Corporate Insolvency and Governance Bill to extend accounting deadlines

Posted on May 22, 2020 Posted in - Accountancy, Accounting, Blog, Business, Covid-19, Covid-19 Economy, Covid-19 Insolvency, COVID-19 Updates, covid-19-update, Economy, Family Businesses, Finance, Grants and Deferrals, HMRC, Insolvency, Loans, SME, SMEs, SMEs / Business

The new Corporate Insolvency and Governance Bill will help maximise your business’ chance of survival throughout the coronavirus pandemic, it has been suggested. Read more…

COVID-19: The impact on company car benefit in kind

Posted on May 6, 2020 Posted in - Accountancy, Accounting, Blog, Business, Covid-19, COVID-19 Updates, covid-19-update, Employees, HMRC, Income Tax, SME, SMEs, SMEs / Business, Tax

Due to the coronavirus pandemic, many people in the UK are now working from home or have been placed on furlough leave, meaning that they are not using their employer-provided company car. But what is the impact on the benefit in kind (BIK)? Read more…

Applying for a Coronavirus Business Interruption Loan Scheme (CBILS)

Posted on March 25, 2020 Posted in - Accountancy, Accounting, Blog, Business, Covid-19, Covid-19 Personal taxes and finances, Economy, Finance, SME, SMEs, SMEs / Business

Small to medium-sized businesses in the UK are now able to apply for finance via the Coronavirus Business Interruption Loan Scheme (CBILS) to help them deal with the operating costs of their business and to assist with maintaining cashflow. Read more…

Deferring VAT – HMRC confirms businesses should cancel VAT direct debits

Posted on March 25, 2020 Posted in - Accountancy, Accounting, Blog, Business, Covid-19, Covid-19 – MTD & VAT, HMRC, Income Tax, SME, SMEs, SMEs / Business, Tax, VAT

Following the Government’s announcement that businesses will be able to defer VAT payments for the period from April – June, HM Revenue & Customs (HMRC) has now confirmed that businesses should cancel direct debits for VAT if they want to utilise the deferment offer. Read more…