Which shops and businesses can open? As the government eases the restrictions on the lockdown in phases it can lead to confusion. We go through the different sectors. This includes which businesses can open and which must remain closed. We also provide information on the new working safely guidance issued by the government. This guidance …
Which Shops And Businesses Can Open And Which Must Remain Closed? Read More »
The married couples allowance for 2020/21 is £250. This is tax free cash which an estimated 700,000 couples don’t claim. Better still, you can claim back for the previous 4 tax years. As a result the total tax rebate can be as high as £1,188. This total is explained later. Married Couples Allowance Example A …
UPDATED: 13th May 2020 – The self-employment grant is now available to be claimed. To make the claim click on the following link HMRC Self-employment grant claim and follow the instructions. HMRC Self-employment Grant Step by Step Video HMRC have released this youtube video explaining the claims process in detail Self-employment grant claim video. TIP: …
Bounce back loans were made available on 4th May 2020. The loans are government backed and are to assist UK businesses impacted by coronavirus. Below are some frequently asked questions on bounce back loans. Other Government Support available includes:Job Retention Scheme – see our step by step guide on how to applySelf-Employed Grant – use …
Very small Limited companies have an option to file micro entity accounts. Initially these may look like a cheaper option. So who can file micro entity accounts? What are they? And are there any potential pitfalls to avoid? Our opinion on Micro Entity Accounts Our default position is to file accounts under the small companies …
What is the VAT Reverse Charge for Construction Industry? This simple tool will inform you when to apply the VAT reverse charge. It applies to all businesses within the construction industry. We have also included detailed analysis and examples of the questions you will need to answer. The solver will inform your construction business whether …
From 1st October 2020 the VAT reverse charge for construction industry rules will apply. Here are some FAQs on the changes and how it will affect your construction business. Our opinion on the VAT changes for Construction Industry We have no doubt that ‘missing trader fraud’ is an issue for HMRC. The implementation of these …
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Try our Self-employed grant calculator tool to see how much you can claim from the Government. The maximum grant is £2,500 per month. Conditions of the Self-employed Grant Claim To qualify for the grant, self employed individuals must confirm the following: A 2018/2019 tax return has been submitted (and it was submitted by 23rd April …
The Job Retention Scheme Portal went live on 20th April 2020. Below is our step by step guide on how to complete Job Retention Scheme Portal and claim the grant available. DISCLAIMER – Please note that the content contained in this article is for general information only and is not a substitute for professional advice …
Job Retention Scheme Portal – Step by Step Guide Read More »
On Friday 17th April 2020, the Government released further guidance on the Job Retention Scheme and how to calculate the grant for each employee. Currently they have not yet released an online calculator to assist with the claims. As a result, we have prepared our own calculator based on the information released to date. We …