The government brought IR35 into law in January 2000 in an attempt to reduce ‘Disguised Employment’. Put simply, this is when someone is acting as an employee but under the title of a ‘contractor’. Subsequently being in more control of their remuneration methods, and therefore… Read More »A Brief Introduction to IR35
In his budget, Rishi Sunak has chosen a fine line between raising taxes to start paying down the massive Government borrowings but at the same time stimulate economic recovery and save jobs. Due to the government’s promises not to raise income tax, VAT and national… Read More »Budget and Covid Support Summary
Research & Development is a subject which is often in the news, and was mentioned again in the most recent budget. It is an area which, when used properly, can be beneficial for limited company businesses. It can reduce taxes now or in the future,… Read More »Research and Development Tax Claims and Credits
New VAT rules are due to come into effect from 1st March 2021 which will impact on accounting for VAT for transactions in the construction sector. The new rules are called “the domestic reverse charge for supplies of building and construction services”. This is a… Read More »Reverse VAT Charge for CIS
As there have been numerous different schemes opening and closing to support Businesses through the Pandemic, we have compiled a Business Support Update to keep you informed of the latest changes and support available. Strategic Framework Business Fund The Scottish Government have announced a COVID… Read More »Business Support Update – Covid 19
As many government guidelines, schemes and deadlines have seen a change in the last few weeks, please see below a summary of schemes that may be relevant to you. 1.VAT If you deferred paying any VAT that was due to HMRC between 20 March and… Read More »Summary of Schemes
As another part of Rishi Sunak’s ‘Plan for Jobs’ (see also Job Retention Bonus) the Kickstart Scheme has been launched. The scheme was designed to create new 6-month job replacements for young people. It is targeted at those that are dependant on Universal Credits and… Read More »Kickstart Scheme Grant.
The Coronavirus Business Interruption Loan Scheme (CBILS) targets small and medium-sized businesses with loans and financial support of up to £5million turnover. 80% of the finance is guaranteed by the government and they will pay any fees and interest for the first 12 months. Financial… Read More »Coronavirus Business Interruption Loan Scheme
What is the Job Retention Bonus? As the Coronavirus Job Retention Scheme is closing on October 31st, many employers are left wondering, what comes next? This is where the new Job Retention Bonus comes in. At the end of January bonuses of £1000 will be… Read More »The Job Retention Bonus
This blog post will outline changes and updates made recently to the Coronavirus Job Retention Scheme, Statutory Sick Pay and the Self Employment Income Support Scheme. Changes to the Coronavirus Job Retention Scheme The Chancellor has recently announced changes to the Coronavirus Job Retention Scheme.… Read More »Coronavirus Business Support Update – CJRS, SSP and SEISS
The Business Bounce Back Loan and Pivotal Enterprise Resilience Fund are two schemes in place to help support SMEs during these difficult times. They were introduced in early May and have been implemented to give businesses cash injections to allow them to continue to operate… Read More »The Business Bounce Back Loan and Pivotal Enterprise Resilience Fund
The Coronavirus Job Retention Scheme (CJRS) has provided financial support to millions of UK workers, with 7.5 million claims so far. On Tuesday (12th May) the Chancellor announced an extension to the scheme which will now remain open until the end of October, four months… Read More »Extension to the Coronavirus Job Retention Scheme
