Our Tax Department has written ‘A Brief Guide to Tax Planning for COVID-19’ please click the link below: Tax planning for COVID-19 Brief Guide
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In light of the Covid-19 pandemic presenting unprecedented challenges for everyone, HMRC has announced a one year deferment to the requirement to digitally link separate software programmes when preparing your VAT return. The soft landing period of MTD (Making Tax Digital) had originally been in place for businesses to make a manual transfer – this…
With an increasing pressure on the government to provide financial support to UK taxpayers during the COVID-19 pandemic, amongst other proposals, the government announced a deferral of the due date of the second payment on account for 2019/20. Initially it was unclear whether this would apply only to self-employed individuals. Clarification has now been…
It is fairly well publicised now that as part of the Government’s financial support package for businesses during this Coronavirus outbreak, these businesses can, if they wish, defer their next VAT payment(s) (those due between 20 March and 30 June 2020). Interest and penalties will not be charged on such a deferral. What was not…
Whilst the Government have announced a business finance support package, it is unlikely to be accessible for several days (the loans via the banks) or weeks (the grants via HMRC/Local Authorities). Not all businesses will meet the criteria for them anyway. There is more to come from the Government, but in the meantime business…
The new Chancellor, Rishi Sunak, has announced this afternoon (26th March 2020) much needed support for the self-employed. This will be known as the Coronavirus Self-Employment Income Support Scheme. As in any support, there are conditions and the detail will need to be scrutinised. To be eligible for the scheme there are various…
In the recent Budget, and subsequent announcements, the Government have introduced numerous measures to help small businesses cope with the financial impact of the COVID-19 pandemic. Once you have decided how to follow Government advice with regard to your own business continuity, best advice must then be to more actively manage your finances, by preparing…
Only days after Budget 2020 confirmed that IR35 reforms to the private sector would go ahead, the changes have been postponed until 6 April 2021. Chief Secretary to the Treasury, Steve Barclay MP, confirmed “This is a deferral and not a cancellation”. Amongst the unintended consequences of this legislation, the lack of employment rights for…
Due to the current Coronavirus situation and guidelines being issued, we have made the decision to cancel the Annual Farming Seminar due to be held on 25th March 2020. We hope to be able to bring you a farming update from our colleagues at the Andersons Centre in the coming months.
Here are the full details of the Budget. https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/871799/Budget_2020_Web_Accessible_Complete.pdf
