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Delaying Import Duty And VAT Payments Due To Covid-19

Many businesses that import goods into the UK from outside the EU operate deferment accounts, which allow payment of import duty and VAT to be delayed for 15 days after the month in which the goods are brought into the country. See Gov.uk – How to set up a deferment account: https://www.gov.uk/guidance/setting-up-an-account-to-defer-duty-payments-when-you-import-goods What are HMRC […]

Read more April 15th, 2020

HMRC Time To Pay

Along with the various government schemes to provide income support for businesses and individuals, HMRC offers a Time To Pay Scheme. This is currently available for Self Assessment Tax, Corporation Tax, VAT and PAYE. In order to arrange a deferral of a tax payment which is not already covered by a specific scheme, such as […]

Read more April 14th, 2020

Government To Provide Cash Grants For Frontline Charities

Charities across the UK will receive a £750 million package of support to ensure they can continue their vital work during the coronavirus outbreak. Tens of thousands of charities will benefit from direct cash grants to ensure they can meet increased demand as a result of the virus, as well as continuing their day-to-day activities […]

Read more April 9th, 2020

Support For Nursery Businesses Business Rates

The Government is introducing a business rates holiday for nursery businesses in England for the 2020 to 2021 tax year. Nurseries are eligible for the business rates holiday if: The business is based in England Properties that will benefit from the relief will be: occupied by providers on Ofsted’s Early Years Register wholly or mainly […]

Read more April 9th, 2020

Increase In Working Tax Credits

The government has announced that Working Tax Credits payments will be increased from 6 April 2020. As part of a number of measures to support the country during the COVID-19 pandemic, the basic element of Working Tax Credit has been increased by £1,045 to £3,040 from 6 April 2020 until 5 April 2021. The amount […]

Read more April 8th, 2020

Job Retention Scheme FAQ Part 3

Under the Coronavirus Job Retention Scheme, 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 laid off during this crisis. Information in this article based on information as of 6 April 2020. Previous answers from 31 […]

Read more April 7th, 2020

How To Claim For Your Employees’ Wages Through The Coronavirus Job Retention Scheme (CJRS)

The Government recently provided more details on how the CJRS works. Please note the online service you will use to claim is not open yet – we will let you know when it is. We have the capability to calculate and submit your CJRS Claim so please let us know if we can help. Overview […]

Read more April 7th, 2020

Coronavirus Business Interruption Loan Scheme (CBILS) Update

HM Treasury has announced the Chancellor Rishi Sunak is taking further action to support firms affected by the coronavirus crisis by bolstering the business interruption loan for small businesses and announcing a new scheme for larger companies. The Chancellor states: £90 million of business interruption loans approved for nearly 1,000 firms and £1.9 billion corporate […]

Read more April 6th, 2020

Job Retention Scheme FAQ Part 2

Under the Coronavirus Job Retention Scheme, 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 laid off during this crisis. Information in this article based on information as of 31 March 2020. Previous answers from 29 […]

Read more April 6th, 2020

Job Retention Scheme FAQ

Under the Coronavirus Job Retention Scheme, 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 laid off during this crisis. Information in this article based on information as of 29 March 2020. Further answers from 31 […]

Read more April 6th, 2020

COVID-19 Business Support Update 2 April

Business Secretary Alok Sharma gave the 1 April 2020 daily press briefing on the government’s response to the COVID-19 pandemic. He also gave some updates on the business support offered. He commented: “From today businesses will start benefiting from £22 billion in the form of business rates relief. And grants of up to £25,000 which […]

Read more April 3rd, 2020

Government Relaxation Of Financial Solvency Rules During Pandemic

The government plans to introduce emergency changes to overhaul insolvency laws and give “breathing space” to companies hit by the coronavirus crisis, Alok Sharma, the business secretary has announced, in a move to help prevent mass failures. Laws that make it illegal for a business to trade when it is insolvent are set to be […]

Read more April 3rd, 2020

Universal Credit / Benefits Calculator

Many people will need to consider Government Benefits because of the Pandemic. For some, this will be the first time and you may require guidance on what you can claim and how much. If you are at all unsure we have included links to guidance from independent Benefits Calculators. Benefits Calculators If you want to […]

Read more April 3rd, 2020

Self-Assessment Tax Payment Deferral

HMRC have now clarified the position regarding those entitled to defer the self-assessment tax payment falling due on 31 July 2020. The original indication was that this would only apply to those whose self-assessment liability was generated by self-employment income. HMRC have now expanded this to cover all self-assessment liabilities. Whether it has been caused […]

Read more April 1st, 2020