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UPDATE – 5th September 2021 The fifth SEISS grant – FINAL GRANT – DEADLINE 30th September 2021 The final SEISS grant covering May 2021 to September 2021 is now open to claim. The amount of the fifth grant will be determined by how much your business turnover has been reduced. The grant will be worth 80% of three months’ average …
For expenditure incurred from 1 April 2021 until the end of March 2023, companies can claim 130% capital allowances on qualifying plant and machinery investments. Under the super-deduction, for every pound a company invests, their taxes are cut by up to 25p. The new Capital Allowances offer As a result of measures announced at this Budget, businesses will now benefit …
The SME Brexit Support Fund could give you up to £2,000 to help with training or professional advice, if your business has up to 500 employees and no more than £100 million annual turnover. Applications will close on 30 June 2021 or earlier if all funding is allocated before this date. What you’ll be able to use the grant for …
CBILS and BBL are no longer open for applications – RLS replaces these two facilities. The scheme covers term loans, invoice finance, asset finance and overdrafts. Businesses can borrow up to £10 million, but there’s no interest or fee-free period. The government guarantees 80% of the debt and there’s no turnover or trading history requirements. Personal guarantees aren’t needed for …
What is the IR35? IR35 is a set of rules that make sure workers, who would have been an employee if they were providing their services directly to the client, pay broadly the same Income Tax and National Insurance contributions as employees. The client is the organisation who is or will be receiving the services of a contractor. How the …
Chancellor Rishi Sunak presented his 2021 Budget on Wednesday 3rd March. We have briefly summarised the top headlines business owners and employees need to be aware of, this page will be changing with more updates so keep an eye on it: Companies – Furlough will be extended until end of September 2021. Still at 80% of salary. Businesses will be …
Set up an 11 month payment plan to pay historically deferred VAT due to Covid-19 – This service will close on 21 June 2021 If you deferred VAT between 20 March 2020 and 30 June 2020 and still have payments to make, you can: Pay the deferred VAT in full on or before 31 March 2021 or, Opt in to …
CLOSED – RECOVER LOAN SCHEME NOW OPEN Application deadlines for Government Loan Schemes are extended until the end of March 2021. Bounce Back Loans can be extended from 6 to 10 years. Interest-only periods of up to 6 months and payment holidays will also be available. Coronavirus Bounce Back Loan – Open 4th May 2020 The Bounce Back Loan scheme …
Click here to download the full article >> Brace for more change The UK is now treated as a third country in relation to the EU, which means the VAT rules on imports and exports have changed for all goods (of any value) crossing the EU border and into Northern Ireland. Sales of digital services to non-business customers in the …
HMRC have announced that Self Assessment customers will not receive a penalty for their late online tax return if the return is filed by 28 February 2021. Taxpayers will not be subject to any late payment interest as long as the tax liability has been paid before the 31st March 2021. You can pay online, via bank or by post …
