UK economy suffers “worst fall in 300 years”

The UK economy shrank by a record 9.9 per cent last year as coronavirus restrictions forced thousands of businesses to close, official statistics have revealed.Continue reading→

One in five small businesses not entitled to financial support, FSB reveals

As many as one in five small businesses and sole traders are not entitled to financial support under the Government’s coronavirus support package, it has been revealed.Continue reading→

Government urged to extend COVID business support measures

The Government is being urged to extend emergency coronavirus support in the upcoming Budget with a recent study warning that businesses face a £50 billion shortfall when the support measures end in April 2021.Continue reading→

Online sales tax proposal for Autumn Budget

The UK Treasury is considering online sales tax for retailers such as Amazon, Asos and Ocado, after a drastic increase in online shopping and the current “uneven system”, has caused many in-store retailers to be at a disadvantage.Continue reading→

Number of late Self Assessment returns doubles, HMRC reveals

The number of taxpayers who failed to file their Self Assessment tax return on time has doubled, HM Revenue & Customs (HMRC) has revealed.

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Business owners put billions of pounds on the line to secure early CBILS loans, figures reveal

Business owners who took out an early coronavirus loan have more than £1.2 billion of personal guarantees on the line, a major study has revealed.Continue reading→

Insolvency: 900,000 UK businesses are ‘at risk’ of closure

One in seven UK businesses are ‘at risk’ of closure in the first half of 2021 with many coronavirus business support measures due to close in March and April, according to the latest research.Continue reading→

Kickstart Scheme: the changes from 3 February 2021

According to a report by the Department for Work and Pensions (DWP), the Kickstart Scheme has supported over 120,000 young people find employment, since its launch in September 2020.Continue reading→

Construction industry VAT reverse charge to come into effect on 01 March, Government confirms

The delayed Construction Industry Scheme (CIS) VAT reverse charge will come into effect on 01 March 2021, it has been confirmed.Continue reading→

Voluntary and compulsory strike off processes paused in response to national lockdown

Companies House will pause both the voluntary and compulsory strike off processes for one month to support businesses affected by Covid-19, it has been announced.Continue reading→