News
Coronavirus grants to businesses, employers and individuals are taxable
30 June 2020
We are reminding businesses, employers, employees and self-employed individuals that grants from the various Government schemes to provide support during the Coronavirus outbreak are taxable in the same way as other income. Payments made under schemes including the Coronavirus Job Retention Scheme (CJRS), the Self-Employment...
Read more...
Guidance published on repaying Coronavirus Job Retention Scheme overpayments
30 June 2020
HM Revenue & Customs (HMRC) has published new guidance detailing how employers can repay Coronavirus Job Retention Scheme (CJRS) grants if they have over-claimed and therefore received an overpayment. If an employer has received an overpayment and is making further claims, it can offset the overpayment against the amount...
Read more...
Key dates for Coronavirus support schemes
30 June 2020
With numerous Government schemes open to businesses and individuals to help deal with the impact of the Coronavirus outbreak, there are dozens of key dates to be aware of in the coming months, including: 30 June 2020 End date of the VAT deferral scheme. VAT Payments after this date must...
Read more...
Government publishes new ‘Covid Secure’ guidance
25 June 2020
The Government has published new ‘Covid Secure’ guidance following the announcement that businesses in England including pubs, bars, restaurants, hair salons, barbers, hotels and bed and breakfasts may reopen from 4 July 2020. The latest documents, prepared by the Department for Business, Energy and Industrial Strategy (BEIS) with...
Read more...
Remember to reinstate your VAT direct debit in time for your next payment
25 June 2020
If you are using the option to defer VAT payments due between 20 March 2020 and 30 June 2020 and you have cancelled your direct debit, you should now ensure that you reinstate your direct debit in enough time for HM Revenue & Customs (HMRC) to take your next payment. After 30 June 2020, you will need to make your VAT returns...
Read more...
HM Revenue & Customs clarifies repayments of Corporation Tax and anticipated losses
25 June 2020
With businesses across many sectors having been hit hard by the Coronavirus crisis, HM Revenue & Customs (HMRC) has now said it will, in exceptional circumstances, consider claims for Corporation Tax repayments for prior periods based on anticipated losses, even before the conclusion of the current accounting period.
Read more...
Employers given 30 days to confess to furlough fraud
25 June 2020
Employers will be given 30 days to ‘confess’ to furlough abuses, with legislation being fast-tracked to allow HM Revenue & Customs (HMRC) to reclaim any furlough grant that is overpaid to employers, or that is not spent on wages as intended. More than 2,000 employers have already been accused of furlough fraud by whistle-blowers...
Read more...
Download our Coronavirus support for business timeline
22 June 2020
Since the beginning of the Coronavirus outbreak in the UK, the Government has announced numerous schemes to support employers and businesses. Several of these schemes are winding down or changing in the coming months, so we have created a handy grid showing what support is available and the deadlines for accessing it.
Read more...
Managing Cash
18 June 2020
As businesses look to rebuild and recover from the trading challenges of COVID-19 in the coming weeks and months it is vitally important that they manage and maintain good cash flow to ensure they remain viable and can trade. To manage cash flow effectively, businesses need to be able to forecast how they will perform...
Read more...
Helpful steps to improve credit control
18 June 2020
An important element of healthy cash flow is the credit control process. Smaller businesses in the UK have historically struggled to recover payments, especially from larger clients. To help, the Government has tried to introduce new legislation. However, in many cases, it has lacked the bite to be effective. It is, therefore, often...
Read more...
Case Studies
-
A shared passion for architecture and a head for numbers
-
Child's play with proactive accounts management
-
Smiles all round for dental practice
-
Customer care is top of the list for packaging business
-
Cut above the rest in personal management style
-
Sometimes a business does exactly as it says on the tin
-
Taxing demands with old school charm
-
A taste for growth, a thirst for knowledge
-
A modern approach required for music moguls