Latest Blogs

23rd June 2020 COVID-19 – Reminder to reinstate VAT direct debit

Many businesses have taken advantage of HMRC’s concession to defer VAT payments falling due between 20 March and 30 June 2020.  If you have used this concession, and as a result cancelled your direct debit, do not forget to reinstate the direct debit mandate in time for any VAT payments falling due on or after…

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22nd June 2020 COVID-19 – Potential to advance the opportunity to reclaim corporation tax

To reflect the exceptional trading position many companies find themselves in during the Covid-10 pandemic, HMRC has updated its internal guidance regarding companies making claims for repayments of corporation tax based on anticipated losses, and claiming a repayment of corporation tax paid under the quarterly instalments regime.  Companies wishing to make such a claim will…

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22nd June 2020 COVID-19 – Second Government Grant for the Self Employed

Those eligible under the Self-employment Income Support Scheme (SEISS) will be able to claim a second and final grant in August 2020.The grant will be worth 70% of their average monthly trading profits, paid out in a single instalment covering three months’ worth of profits, and capped at £6,750 in total.  The eligibility criteria remain…

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22nd June 2020 COVID-19 – Reminder – Deadline for Self Employed to Claim the First SEISS Grant

The deadline for applying for the first grant under the Self Employment Income Support Scheme (SEISS) is 13 July 2020.  This grant, which is available to eligible individuals, amounts to 80% of your average monthly trading profits.  The grant covers a period of three months and is capped at a maximum of £7500.  To find out whether…

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19th June 2020 Socially Responsible Investing

Every day more people are starting to think about environmental issues, such as climate change, social issues and our impact on the world around us, plus the sustainability of it all. But what can we do about it when it comes to investing your capital?   What do all the many different definitions and terms…

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16th June 2020 COVID-19 – Update to Scheme for Furloughed Employees

HMRC have issued a policy paper confirming  that the Coronavirus Job Retention Scheme (CJRS) for employees that have been furloughed will close on 31 October 2020.  The policy paper also outlines the timetable for changes to the scheme over the coming months.   The policy paper can be found here:   https://www.gov.uk/government/publications/changes-to-the-coronavirus-job-retention-scheme/changes-to-the-coronavirus-job-retention-scheme   At Whiting &…

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12th June 2020 Rebound and Recover Business Training Programme

Whiting & Partners are delighted to have launched a series of short presentations, to support business owners through the next few months, as they seek to grow their business.   Some businesses need to relaunch, some are dealing with major changes to their operations or supply chain and some may be managing a huge demand…

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9th June 2020 Coronavirus Job Retention Scheme Changes

Urgent reminder that tomorrow (10th June) is the last day you can begin an employee on furlough for the first time, for the 3 weeks minimum on this first scheme. This is very important because if they are ever likely to want to furlough any employee from 1st July to 31st October on the ‘new’…

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8th June 2020 COVID-19: Implementation of VAT Reverse Charge on Construction Services – Delayed

HMRC has announced that the domestic reverse charge on constructions services, which is due to come into effect on 1 October 2020 has been delayed until 1 March 2021.  This will be welcome news as it provides businesses with additional time to prepare for the introduction of these new rules.   At Whiting & Partners…

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8th June 2020 COVID-19: Missed VAT Deferral – Opportunity to claim refund

In March 2020 HMRC announced that businesses had the option to defer VAT payments falling due between 20 March 2020 and 30 June 2020 until 31 March 2021.  An important step in taking  advantage of this easement is to cancel your Direct Debit.  Where you have failed to do this and your VAT payment has…

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