There are several ways in which you can pay personal tax liabilities. We go though each option on how to pay personal tax, so that you can decide which option is most convenient for you. Recap: Who needs to pay personal tax UK individuals who are registered for self-assessment must pay their personal tax liabilities …
Postponed VAT accounting is available for UK businesses from 1st January 2021. The scheme will assist the cash flow for businesses, which import goods from anywhere outside the UK. Further Information on Postponed VAT Accounting For further information please see the HMRC website on Accounting for Import VAT on the VAT Return and How to …
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A significantly reduced profits test has been introduced for the third self-employment grant. Before making your claim you must ensure you still qualify. Below are the frequently asked questions on this new requirement. Summary of the HMRC requirements To qualify for the third grant, HMRC have highlighted the following conditions: Self-Employment is still trading but …
Significant New Test Affecting Self-Employment Grants Read More »
The furlough scheme has been extended to cover November 2020 to March 2021. As a result the Job Support Scheme has now been delayed. Furlough, also known as the Job Retention Scheme was due to end in October 2020. However with the announcement of the second lockdown the Government has announced that the furlough scheme …
Furlough Scheme Extended for November to March 2021 Read More »
Bounce back loans have been extended. The scheme is now open to applications until 31st January 2021. The loans were originally made available back in May 2020. However, if you didn’t claim or are considering increasing your bounce back loan below are some FAQs. Government Support Extended The following blogs all contain Government Support which …
A self-employment grant extension was announced by the Government on 5th November 2020. The Government have already paid out grants to the self-employed. The first grant was paid out in May 2020 and the second grant was paid out in August 2020. With the new November lockdown and increased furlough support for employees, additional support …
Business grants are available for those that are affected by the second lockdown. Currently the grants are only available for those businesses in England, which are required to close. For the full list see our blog on which businesses can stay open and which must close. Other Business Grants Announced for Second Lockdown Furlough Extended …
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Which shops and businesses can open? On 31st October 2020, a second lockdown was announced for England. As a result the Government have confirmed that certain businesses must close. The information below is correct as at 1st November 2020. Note: The rules below apply to England only. The devolved nations of Scotland, Wales and Northern …
Which businesses can stay open in November 2020? Read More »
The Government announced an extension of the furlough scheme on Friday 29th May 2020. Subsequent extensions now mean that the furlough scheme is available in November 2020 to March 2021. For the latest rules on the November furlough extension see our updated blog. The furlough scheme is also known as the job retention scheme. The …
Furlough Scheme Extension Rules From July And November Read More »
On 22nd October 2020 the Job Support Scheme was extended to provide more government support to businesses. Below are the frequently asked questions on the updated job support scheme. UPDATE: on 31st October 2020 the Government announced a second lockdown for England. As a result the Furlough Scheme also known as the Job Retention Scheme …