We mentioned in our post on 21st March 2020 that the government has introduced a new scheme to help businesses retain staff during the coronavirus outbreak. We are receiving lots of queries from clients about this scheme and whether it relates to them and whether they can apply. So we will try to explain in…

Businesses will be given an additional 3 months to file accounts with Companies House to help companies avoid penalties as they deal with the impact of COVID-19. Hopefully this will avoid companies incurring an automatic £150 late filing fee at least for three months. However, we are still working as normal and are able to…

We are getting lots of queries from clients asking about how the self employed will be helped. As yet we have no firm information to pass on to clients, except the fact that tax that would normally have to be paid in July 2020 can now be deferred. The government is currently working on a…

The temporary Coronavirus Business Interruption Loan Scheme will support SMEs with access to loans, overdrafts, invoice finance and asset finance of up to £5 million and for up to 6 years. The government will also make a Business Interruption Payment to cover the first 12 months of interest payments and any lender-levied fees, so smaller…

As part of a number of measures to support the country during the coronavirus (COVID-19) pandemic, Working Tax Credits payments will be increased by £20 per week from 6 April 2020 until 5 April 2021. The amount a claimant or household will benefit from will depend on their circumstances, including their level of household income. But the…

HMRC will support businesses by deferring Valued Added Tax (VAT) payments for 3 months. If you’re self-employed, Income Tax payments due in July 2020 under the Self-Assessment system will be deferred to January 2021. VAT For VAT, the deferral will apply from 20 March 2020 until 30 June 2020. Eligibility All UK businesses are eligible….

The Government has committed to pay the wages of employees unable to work due to the coronavirus pandemic. On Friday, the government announced it would pay 80% of salaries for staff who are kept on by their employer. All UK businesses are eligible. In order to access the scheme, you will need to: designate affected employees…

We understand that there is a lot of uncertainty and worry at the moment about the potential impact of the Coronavirus, both on us all personally and our businesses.  We just want to let you know that for us it is business as usual and we are here to help.  Our phone lines and emails…

You would be forgiven for thinking that last week’s budget was actually a speech on COVID-19. In fact, the Chancellor looked at one point as if he was going to finish the Budget without any mention of taxes but they were there at the end, the most important of these was probably the reduction in…

Let’s hope it is a happy, healthy and prosperous new year for everyone! Let’s start by trying to avoid a £100 late filing fee for self assessment tax returns. HMRC issued the following press release on Friday 3rd January, and we would like to echo their sentiments too – but without the awful play on…