Following Chancellor Rishi Sunak’s delivery of the Budget yesterday, we have a brief summary and details of how it may affect you. Please click the link below: Whiting & Partners Budget 2021
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HMRC have issued the new advisory fuel rates (AFR) which come into effect from 1st March 2021. They have increased by 1p per mile for petrol and diesel vehicles with engines of 1400-2000cc reflecting a small increase in fuel prices over the last quarter. The advisory electricity rate for fully electric cars remains…
Today HMRC have announced that they will not be charging Self Assessment tax payers a 5% late payment penalty if they pay their tax, or set up a payment plan by 1 April 2021. This year, because of the impact of the COVID-19 pandemic, HMRC is giving taxpayers more time to pay or set…
During this unforeseen prolonged period of economic downturn charities may need to re-assess their short to long term aims. Certain planned activities may need to be delayed or even cancelled while more crucial expenditure takes priority. Charities may find it necessary to make use of their reserves to cope, or even just survive, this on-going…
Find out the up-to-date information on local business grants from West Suffolk Council during the COVID-19 pandemic: COVID-19 support for business – grants (westsuffolk.gov.uk)
On 5th January 2021 the Chancellor announced new one-off top up grants for retail, hospitality and leisure businesses worth up to £9,000 per property to help businesses through the new lockdown. The one-off top-ups will be granted to closed businesses as follows: £4,000 for businesses with a rateable value of £15,000 or under…
In March 2020 the Government temporarily suspended wrongful trading provisions until 30 September 2020. The purpose of this measure had been to ensure that company directors could continue to operate during Covid-19 without worrying about becoming personally liable for wrongful trading. On 26 November 2020, following the 2nd lock down, new legislation came…
On 17th December the government announced a further extension to the Coronavirus Business Interruption Scheme loans (CBILS) – meaning that businesses now have until 31st March 2021 (previously 31st January) to apply. This welcome announcement means that more businesses will be able to enter the loan scheme, benefitting from the needed funds during these…
As 1-Jan-21 draws ever nearer what changes should your SME business prepare to adopt ready for Brexit: Exporting Goods to the EU Despatches are renamed exports. Apply for an EORI number (which will look something like: GB123456789123). Check whether what you sell is a restricted good that requires an export licence. Check whether there are…
Whitings Farming Group publish their half yearly commentary on what’s topical in the agriculture sector: Click Here (for edition 17) Blog Entry by: James Cater
