03-04-2020
Changes announced to Coronavirus Business Interruption Loan Scheme (CBILS)
Many small businesses that have applied for a government backed CBILS loan thus far have been offered standard overdrafts and loans – without the Government's 80% … read more
01-04-2020
Tax Diary April/May 2020
1 April 2020 – Due date for Corporation Tax due for the year ended 30 June 2019.
19 April 2020 – PAYE and NIC deductions due for month ended 5 April 2020. (If you pay your tax … read more
01-04-2020
Directors – between a rock and a hard place
Directors that have drawn remuneration from their companies as a mix of low salary and higher dividends would seem to be overlooked by the schemes announced in the past two weeks … read more
01-04-2020
Coronavirus tax payment helpline
The phone number for the COVID-19 helpline launched earlier this month has been changed to 0800 024 1222. Calls to the previously published number will be redirected. The launch of … read more
01-04-2020
Working Tax Credits increased for one year
As part of the package of measures to tackle the Coronavirus outbreak, the government has announced that the basic element Working Tax Credit payments will be increased from an … read more
01-04-2020
Relaxation of phone contracts during COVID-19 outbreak
An interesting joint statement from the Government, Ofcom and the telecommunications industry has been published to help offer support to vulnerable consumers and those who may … read more
01-04-2020
Further details on Coronavirus Job Retention Scheme
HMRC has published further details on how the new Coronavirus Job Retention Scheme will work in practice. It had already been announced that the new scheme will see the government … read more
01-04-2020
Coronavirus – relaxation of insolvency rules
New insolvency measures have been announced to help prevent businesses unable to meet debts, due to the impact of Coronavirus, to continue trading and not be forced to file for … read more
01-04-2020
Coronavirus deferral of VAT payments
In another move to help businesses the government announced that VAT registered businesses can defer any VAT payments due between 20 March 2020 and 30 June 2020. There is no … read more
01-04-2020
Contactless payment limit increased
The spending limit for contactless card payments has been increased from £30 to £45 effective 1 April 2020. The change in the limit had been under consideration and has … read more
01-04-2020
Financial support for exporters
There is a special financial support targeted specifically at exporters. This is in addition to the package of government-backed and guaranteed loans and other measures designed … read more
01-04-2020
Businesses and employers in Northern Ireland
The Northern Ireland Office (NIO) is a UK government department responsible for Northern Ireland affairs. The NIO seeks to ensure the smooth working of the devolution settlement in … read more
01-04-2020
Removing your home address from the public register
Company directors, company secretaries, people with significant control (PSC) and LLP members can apply to remove their personal addresses from the UK’s official company … read more
01-04-2020
HMRC interest rates
Following the recent cut in the Bank of England base rate from 0.25% to 0.1%, HMRC has announced changes to the rates of interest they charge.
The new late payment interest … read more
01-04-2020
Converting assets into cash in the bank
During and after any period when economic activity is depressed, companies that survive the process are those that manage their cashflow effectively.
A number of businesses will … read more
01-04-2020
Deferring VAT and tax payments
As part of the government’s response to assist businesses during the COVID-19 crisis is the offer to defer VAT and self-assessment tax and NIC payments.
VAT
HMRC will not … read more
31-03-2020
National Minimum Wage compliance in relation to pay advances and loans
The government has issued a bulletin providing advice for employers regarding compliance with the National Minimum Wage (NMW) framework, particularly with regard to the effect … read more
27-03-2020
Self-Employed Income Support Scheme
The long-awaited statement from the Chancellor, Rishi Sunak regarding COVID-19 support for the self-employed has been announced. The Chancellor said that the scheme will benefit … read more