News

Tax changes outlined in draft Finance Bill 2020 – 2021- 12/08/2020

The Government has unveiled its draft legislation for the 2020 - 2021 Finance Bill (the Bill). The new proposals cover a number of measures that were previously announced in the 2020 Spring Budget.

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Coronavirus Business Interruption Loan Scheme expanded to more businesses- 12/08/2020

Following a change in EU state aid rules, the Government has announced that it will expand the Coronavirus Business Interruption Loan Scheme (CBILS) to certain businesses classed as “undertakings in difficulty” – those with large losses and debts. The UK remains subject to EU state aid rules during the Brexit transition period.

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VAT treatment of imported goods up to £135 to change under new rules- 12/08/2020

The Government has announced that the Future Fund – the support scheme for early-stage, high-growth firms – will be expanded so that more firms can benefit.

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HM Revenue & Customs publishes Job Retention Bonus guidance - 12/08/2020

A report commissioned by HM Revenue & Customs (HMRC) to find out why 16 per cent of businesses have failed to comply with Making Tax Digital (MTD) for VAT more than a year after the rules came into effect has been published.

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Small business Covid recovery boosted by £20 million in new grants- 12/08/2020

The Government has announced new grants aimed at smaller businesses in England worth £20 million, to help them obtain the support they need to recover from the effects of the Coronavirus pandemic.

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HM Revenue & Customs sets out Making Tax Digital plans for VAT and Income Tax- 12/08/2020

Innovative businesses, both large and small, are hungry for funding to assist them as they emerge from lockdown and begin their recovery.

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Penalties for breaches of furlough and self-employment scheme rules confirmed - 12/08/2020

As businesses look to rebuild and recover from the trading challenges of COVID-19 in the coming...

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Reminder: VAT payment deferral period has ended - 12/08/2020

The fundamentals of improving business profitability comes down to five key factors...

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Banks list top 10 Coronavirus scams - 12/08/2020

An important element of healthy cash flow is the credit control process. Smaller businesses in the UK have historically struggled to recover payments...

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