Many self-employed businesses are struggling for cash to support themselves and their families. Here are our top 10 cashflow tips for the self-employed including subcontractors. TIP 1: Complete your 2018-19 tax return if you haven’t filed it already To be able to qualify for the self-employed income support scheme you must have filed a 2018/19 …
The Self-employment Income Support Scheme was announced by the government to assist businesses with financial support during the Coronavirus crisis. The scheme was announced on Thursday 26th March 2020, with the aim to provide the self-employed with a similar support package as was announced for employees previously. Conclusion of the Self-Employment Income Support Scheme The …
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The Business Support Grant and Business Rates Relief were announced by the government to assist businesses during the Coronavirus crisis. Conclusion of the Business Support Grant The grant of £10,000 plus will be very welcomed by those businesses who are eligible to claim. However, there are a lot of businesses, which don’t have premises who …
The government have announced that personal tax payments are to be deferred to assist taxpayers with their cashflow during the Coronavirus crisis. Conclusion of the income tax deferral Any short term help to support businesses and individual taxpayers with their cashflow at this time is to be welcomed. At Patterson Hall Chartered Accountants we aim …
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The VAT Deferral Scheme was announced by the government to assist VAT registered businesses with their cashflow during the Coronavirus crisis. Conclusion of the VAT Deferral Scheme Any short term help to support businesses with their cashflow at this time is to be welcomed. At Patterson Hall Chartered Accountants we aim to provide our clients …
The Job Retention Scheme was announced by the government to assist employers retain their staff during the Coronavirus crisis. The information below was updated to include the further HMRC announcements on 26th March 2020. Conclusion of the Job Retention Scheme The government had no choice but to provide a scheme for employers to retain staff. …
The UK government has announced several help and support packages available for small businesses throughout the Coronavirus crisis. NOTE: Some of the measures below only apply in England. See below for other Coronavirus support available to small businesses:Job Retention SchemeVAT Deferral SchemeIncome Tax DeferralBusiness Support Grant & Rates Relief Self-employment Income Support Scheme DISCLAIMER – …
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The main capital tax announcements in the Spring Budget 2020 are as follows: Capital Gains Tax Rates The rates of capital gains tax remain unchanged. 10% tax rate is charged for basic rate taxpayers and 20% tax is charged thereafter. Gains from the sale of residential properties remain at the higher rates of 18% (basic …
The main business tax announcements in the Spring Budget 2020 are as follows: Corporation Tax Rates The corporation tax rate is to remain at the current rate of 19%. It had been due to fall to 17% but this reduction has now been cancelled. Structures and Building Allowance From April 2020 the structures and building …
The main employment tax announcements in the Spring Budget 2020 are as follows: National Insurance Thresholds The primary threshold which is the rate at which employees start to pay National Insurance is to increase by 10% to £9,500. Self-employed individuals pay class 4 National Insurance. This will be payable on profits over £9,500. The employer …