On 3rd March 2021, the Chancellor Rishi Sunak delivered the 2021 Budget, which had the task of balancing potential tax hikes to pay for the massive cost of support during the Coronavirus pandemic with helping to kick start a fragile economy coming out of lockdown. There were some interesting announcements, some which will be helpful …
European VAT Changes from 1st January 2021 The UK left the EU officially on 1st January 2021, when new rules will come into force. Businesses will have to comply with these rules in order to import or export goods from EU member states. From 1st January 2021 Acquisitions and Dispatches will now be called Imports …
We published a blog at the beginning of January 2021 in respect of VAT due between 20 March 2020 and 30 June 2020 which was deferred. This was originally payable by 31 March 2021. However, it is now possible to pay in instalments. HMRC have recently announced that the scheme will be open from 23 …
We have been using Iris Openspace for the last couple of years as a secure way of sharing documents with clients, since the changes brought in by GDPR. We have used it more extensively during the Covid-19 pandemic, as it also allows e-signature of documents such as tax returns and accounts. However, the purpose of …
The VAT Domestic Reverse Charge is a change to charging VAT within the construction industry. It is essentially an anti-fraud measure designed to deal with ‘missing trader’ fraud, where companies charge and receive VAT from customers but have no intention of paying this VAT to HMRC. When Does It Apply From? The Domestic Reverse Charge …
Further funding has been announced by Doncaster Council. The grant is to support home-working, mobile and self-employed businesses in Doncaster that have lost trade due to the pandemic and have been ineligible for other schemes. The grant will see eligible businesses receive a one-off payment of £1,000 from the council’s Discretionary Grant Scheme. Doncaster council …
On 5th January 2021, the Chancellor Rishi Sunak announced a further £4.6 billion in business support grants for businesses forced to close due to the latest lockdown. This follows the Prime Minister’s recent announcement of a third national lockdown, that these business will be closed until at least February half-term in order to help control …
In the spring of 2020, one of the measures for helping businesses to cope with Coronavirus was the ability to defer VAT which was due for payment between 20 March 2020 and 30 June (as mentioned here). This was initially deferred until 31 March 2021. HMRC subsequently brought in a further measure to help. Businesses …
On 31 October 2020, the Prime Minister announced that England would go into a second lockdown with effect from 5 November 2020 for 4 weeks. There are various restrictions as with the previous lockdown. This article is to highlight the financial help for businesses. Coronavirus Job Retention Scheme This was due to finish at the …
The Job Support Scheme (JSS) was originally announced under the Winter Economy Plan on 24.9.20, although it has now changed. It will now open on 1 November 2020 and run for six months, until 30 April 2021. It also appears to be more generous than the original JSS. The government has said it will review …