News
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Sunak set out Budget to protect businesses
Published by Michael Graves on Tue, 09/03/2021 - 1:16pmChancellor Rishi Sunak set out a Budget to protect businesses through the pandemic, fix the public finances and begin building the future economy.
The Chancellor once again pledged to do 'whatever it takes' during the COVID-19 pandemic and confirmed that the furlough scheme would be extended until September 2021 to support jobs through the crisis.
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Budget 2021 Summary
Published by Chloe Turner on Thu, 04/03/2021 - 8:52am -
VAT Deferral Payment Scheme
Published by Chloe Turner on Tue, 23/02/2021 - 1:16pmIf you deferred VAT payments due between 20 March 2020 and 30 June 2020 and still have payments to make, from today (23 February 2021), you can opt in to the new HMRC payment scheme. This will allow the deferred VAT liability to be split into instalments over 2-11 months, depending on when you opt in. No interest will be charged on the payment plan.
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New grant for SMEs announced, for support to trade with EU
Published by Michael Graves on Fri, 12/02/2021 - 3:00pmThe Government has announced a new grant for SMEs to pay towards practical support, including training and professional advice, to help them to continue trading with the EU, especially from April and July as new regulations become obligatory.
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10.7 million taxpayers submitted their 2019/20 Self Assessment tax returns
Published by Michael Graves on Wed, 10/02/2021 - 1:15pm -
Bonus of £1,000 to help businesses take on trainees
Published by Michael Graves on Wed, 10/02/2021 - 1:13pmThe government has announced that employers can now apply for a £1,000 bonus, a cash boost, to help them take on new trainees.
The new scheme will support young people to gain the skills and experience they need from the start, helping them to get a job, an apprenticeship, or to pursue further study.
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LITRG calls for a rise in the High Income Child Benefit Charge threshold
Published by Michael Graves on Wed, 10/02/2021 - 1:12pmThe Low Incomes Tax Reform Group (LITRG) has urged the government to raise the High Income Child Benefit Charge (HICBC) threshold to avoid it affecting basic-rate taxpayers for the first time in April 2021.
The LITRG stated that this goes against the original policy intent, and is 'likely to cause the government additional difficulties in raising awareness about the charge among those who do not consider themselves on a high income'.
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Government urged by CBI to act on COVID business support ahead of Budget
Published by Michael Graves on Wed, 10/02/2021 - 1:08pmThe Confederation of British Industry (CBI) has urged the government to provide more financial assistance to businesses affected by the coronavirus (COVID-19) pandemic ahead of the Budget on 3 March 2021.
The business group has outlined support measures required to help protect UK businesses through the spring. It has called for:
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Supreme Court backs small firms on business interruption claims
Published by Michael Graves on Wed, 10/02/2021 - 1:05pmThe UK's Supreme Court has found in favour of small firms receiving payments from COVID-19 business interruption insurance policies.
The test case was brought against insurers by the Financial Conduct Authority (FCA). The ruling means that thousands of small businesses are now set to receive insurance payouts covering losses from the first national lockdown.