Coronavirus has led to the UK economy shrinking by 10% over the last twelve months and we now have the highest borrowing outside of wartime. But with the impact of vaccinations and a lockdown plan having been announced last week, this Budget is intended to...
Many businesses chose to take the option to defer their VAT payments due between 20 March and 30 June 2020, which then became payable by 31 March 2021. However, with the effects of the pandemic lasting far longer than most had anticipated, and cashflow remaining...
Following the UK’s departure from the EU on 1 January 2021, the Government has introduced ‘postponed accounting’ for import VAT on goods brought into the UK from that date. As a result, UK registered businesses importing goods into the UK will be able to account...
In another move to try and combat missing trader fraud in the construction sector, the Construction Industry Scheme (CIS) VAT Reverse Charge rules will finally come in to force on 1 March 2021, having being delayed twice due to the uncertainties caused by Brexit and...
R J Francis accountant, Sarah Kaye, is riding 350km on an exercise bike during January to raise money for Asthma UK. The distance is the equivalent of cycling from Hereford to Fistral Beach in Cornwall, one of Sarah’s favourite places. But that’s not all, Sarah...
Following the Prime Minister’s announcement on 4 January 2021 that England is to enter a further national lockdown from 5 January until at least February half term, the Chancellor has announced additional support for businesses that have been forced to close due to the restrictions. Grants Businesses...
The Coronavirus Job Retention Scheme (CJRS) – also known as the Furlough Scheme – will now remain open until the end of March 2020. The government will cover 80% of the employee’s current salary for hours not worked, up to a maximum of £2,500, for claim...
Following the announcement of a further nationwide lockdown being enforced from Thursday 5 November 2020 to Wednesday 2 December 2020 the Government have announced changes to the financial support being offered to businesses during that period which we have outlined below – full details are...
Could the tax incentives see you leading the way on electric vehicles? Last week the UK government has announced that they are bringing forward the ban on selling new petrol, diesel or hybrid cars from 2040 to 2035 (or earlier if possible) to help achieve their...