News
COVID-19 Bounce Back Loan repayment period extended
08 February 2021
The Government has announced changes to the Bounce Back Loan Scheme (BBLS) available to small businesses in the UK that will give companies longer to repay what they have borrowed. Around 1.4 million small and medium-sized businesses have taken out a loan since they were introduced last year, amounting to around £45 billion of financial support.
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The General Export Facility, explained
04 February 2021
Launched in December last year, the General Export Facility is designed to help businesses export their goods and services overseas. But what is the scheme? And how could it help your business?
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Calculating Coronavirus Job Retention Scheme claims for annually paid directors
28 January 2021
Small company directors that were not able to claim under the Coronavirus Job Retention Scheme (CJRS) because they paid themselves an annual salary in March 2020 may now be eligible to claim under the scheme. Many directors missed the cut-off date on 19 March 2020 to be eligible for the first and second iterations of the furlough scheme.
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HMRC waives penalties for Self-Assessment returns filed by 28 February – but payment deadline remains
28 January 2021
HM Revenue & Customs (HMRC) has announced that any Self-Assessment taxpayers who miss the 31 January 2021 tax return deadline will not receive late filing penalties if they file online by 28 February 2021, although the 31 January 2021 payment deadline remains. Taxpayers who do not pay any outstanding balance on their 2019-20 tax...
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Requests for exemption from publication of furlough claims must be submitted by Monday 25 January
22 January 2021
HM Revenue & Customs (HMRC) has confirmed that the final deadline for employers to request an exemption from the publication of furlough claims will be this coming Monday 25 January 2021. Shortly after it was announced in the autumn that the Coronavirus Job Retention Scheme (CJRS) would be extended and reset to resemble the original...
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Only a few days are left to submit applications for the third SEISS grant
22 January 2021
Any applications for the latest round of the Self Employment Income Support Scheme (SEISS) must be submitted by the deadline on 29 January 2021. This grant offers a taxable support payment equal to 80 per cent of the average of three months’ trading profits (up to a maximum of £7,500) to eligible individuals.
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What could Budget 2021 have in store?
21 January 2021
The UK Government’s budget deficit is expected to reach a peacetime high of around £400 billion this year as a result of the cost of economic support measures during the Coronavirus crisis as well as the impact of the crisis on the economy and, in turn, tax receipts. That is around seven times higher than the £55 billion deficit...
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“Act now” to keep your business moving overseas
20 January 2021
The UK Government has urged businesses to “act now” to keep their business moving overseas in 2021. To help the Government has outlined “six key actions” businesses must take, so we have summarised them below...
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HM Revenue & Customs increases the threshold for Self-Assessment online payment plan service to £30,000
20 January 2021
HM Revenue & Customs (HMRC) has increased the threshold for Self-Assessment taxpayers to use its online self-service Time to Pay payment plan service from £10,000 in tax liabilities to £30,000. The move means that more taxpayers will be able to spread the cost of their tax bills by paying in monthly instalments...
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Independent commission argues against annual wealth tax but advocates a one-off charge
20 January 2021
An independent commission established last spring by the London School of Economics, the University of Warwick and the Economic and Social Research Council to analyse proposals for a wealth tax has rejected an annual tax but has advocated a one-off charge. The commission comprises senior academics from the universities involved...
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Case Studies
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Smiles all round for dental practice
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A taste for growth, a thirst for knowledge
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A shared passion for architecture and a head for numbers
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Child's play with proactive accounts management
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A modern approach required for music moguls
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Cut above the rest in personal management style
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Sometimes a business does exactly as it says on the tin
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Customer care is top of the list for packaging business
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Taxing demands with old school charm