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Coronavirus Video Resources

We’ve compiled all the recordings for our Coronavirus webinars on this one page for ease of use. Please be aware that some things may have changed since the release of the videos. If you have any questions about any of the content, please contact us. Disclaimer: The information provided by Shapcotts Accountants in this video […]

Read more March 31st, 2020

COVID-19 Business Support Update 31 March

Key Government Resources Links You can find an updating list of official resource links here. 1. Department for International Trade (DIT) has issued guidance for UK businesses trading internationally. This advice is for UK businesses that export or deliver goods and services abroad and have been impacted by the spread of coronavirus (COVID-19). It includes: […]

Read more March 31st, 2020

Could The VAT Cash Scheme Help You?

VAT Registered and struggling with cash flow due to COVID 19? Are you on the VAT cash scheme? No? Maybe it’s time to consider changing to it? As accountants, we understand the struggles involving cash flow, especially for small businesses. Now, with the added complications due to Covid-19, it might be time to consider the […]

Read more March 27th, 2020

Coronavirus Self-Employment Income Support Scheme Update

Help for the Self-Employed Chancellor Rishi Sunak has announced measures to support the self-employed and partnerships. The scheme is called the Coronavirus Self-employment Income Support Scheme (CSEISS). If you have suffered a loss in income, a taxable grant will be paid to the self-employed or partnerships, worth 80% of profits up to a cap of […]

Read more March 27th, 2020

VAT Payment Deferral

VAT payment deferrals will apply from 20 March 2020 until 30 June 2020. All UK businesses are eligible and this is an automatic offer with no applications required. Businesses will not need to make a VAT payment during this period. You will still need to submit your VAT returns on time, but will not need […]

Read more March 26th, 2020

Companies To Receive 3 Month Extension To File Accountants

From 25 March 2020, businesses will be able to apply for a 3-month extension for filing their accounts during the COVID-19 emergency. This joint initiative between the Government and Companies House will mean businesses can prioritise managing the impact of Coronavirus. As part of the agreed measures, companies will still have to apply for the […]

Read more March 26th, 2020

Coronavirus Job Retention Scheme

PLEASE NOTE: THIS GUIDANCE IS STILL INCOMPLETE AND THE GOVERNMENT NEED TO ISSUE FURTHER BRIEFING NOTES ON THE DETAIL. Introduction Under the Coronavirus Job Retention Scheme (CJRS), all UK employers with a PAYE scheme will be able to access support to continue paying part of their employees’ salary for those that would otherwise have been […]

Read more March 26th, 2020

COVID-19 Business Support Update 23 March

Key Government Resources Links You can find an updating list of official resource links here. Who is a keyworker? The current list of keyworkers includes the following: Health and Social care (doctors, nurses, social workers, care workers, etc.) Education and Childcare (teachers, social workers, childcarers, etc.) Key Public Services (staff in the justice system, religious […]

Read more March 23rd, 2020

Key Government Resources Links

We have compiled a list of key webpages from the Government website that can be of assistance to you during the current Coronavirus outbreak. (Last updated 28 May 2020) Below are some key Government websites where you can access the latest information: Guidance For Employees, Employers And Businesses The Government has updated its Guidance on […]

Read more March 19th, 2020

Support Available For Businesses During COVID-19

Support for businesses who are paying sick pay to employees: The Government will pass legislation shortly to allow small and medium-sized businesses and employers to reclaim Statutory Sick Pay (SSP) paid for sickness absence due to COVID-19. The eligibility criteria for the scheme will be as follows: this refund will cover up to 2 weeks’ […]

Read more March 19th, 2020

Working From Home – Helping Employees Stay Mentally Strong

With the Government recommending those that can be working from home, should. It is important to note that for some people it’s not the perfect set up. There is the obvious advantage of no commuting and technology meaning we can have more autonomy over our time. However some people will need to monitor their mental […]

Read more March 19th, 2020

Don’t Lose your Personal Allowance!

For every £2 that your adjusted net income exceeds £100,000 the £12,500 personal allowance is reduced by £1. Pension contributions and Gift Aid can help to reduce adjusted net income and save tax at an effective rate of 60%. The restriction applies between £100,000 and £125,000 adjusted net income. Another way that you could avoid […]

Read more March 12th, 2020

Consider Other Tax Efficient Investments

If you are looking for investment opportunities, have you considered the Enterprise Investment Scheme (EIS)? These investments in certain qualifying companies allow you to set off of 30% of the amount invested against your income tax bill as well as the ability to defer Capital Gains Tax (CGT) until the shares are sold. An even […]

Read more March 12th, 2020

Budget Summary Spring 2020

Chancellor Rishi Sunak presented his first Budget on Wednesday 11 March 2020. In his speech, he stated that ‘We are at the beginning of a new era in this country. We have the freedom and resources to decide our own future’. He also said ‘It is a Budget of a Government that gets things done’. […]

Read more March 12th, 2020

Should You Buy New Equipment Before 6 April?

Your business year end, not 5 April, is relevant for capital allowances purposes. If however you are running a business and making up accounts to 31 March or 5 April, you should consider buying plant and machinery to take advantage of the Annual Investment Allowance (AIA). The AIA provides a 100% tax write off for […]

Read more March 12th, 2020