News
What could Budget 2021 have in store?
21 January 2021
The UK Government’s budget deficit is expected to reach a peacetime high of around £400 billion this year as a result of the cost of economic support measures during the Coronavirus crisis as well as the impact of the crisis on the economy and, in turn, tax receipts. That is around seven times higher than the £55 billion deficit...
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“Act now” to keep your business moving overseas
20 January 2021
The UK Government has urged businesses to “act now” to keep their business moving overseas in 2021. To help the Government has outlined “six key actions” businesses must take, so we have summarised them below...
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HM Revenue & Customs increases the threshold for Self-Assessment online payment plan service to £30,000
20 January 2021
HM Revenue & Customs (HMRC) has increased the threshold for Self-Assessment taxpayers to use its online self-service Time to Pay payment plan service from £10,000 in tax liabilities to £30,000. The move means that more taxpayers will be able to spread the cost of their tax bills by paying in monthly instalments...
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Independent commission argues against annual wealth tax but advocates a one-off charge
20 January 2021
An independent commission established last spring by the London School of Economics, the University of Warwick and the Economic and Social Research Council to analyse proposals for a wealth tax has rejected an annual tax but has advocated a one-off charge. The commission comprises senior academics from the universities involved...
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Could the Government be about to launch a new permanent state-backed small business loan scheme?
20 January 2021
According to reports in the Financial Times, the Government is considering launching a new loan scheme, where businesses could borrow anything up to £10 million through an 80 per cent state-guaranteed bank loan. The new scheme, which could be a successor to the existing Coronavirus Business Interruption Loan Scheme (CBILS)...
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HMRC issues new warning over lockdown fraudsters
20 January 2021
Within hours of the Prime Minister announcing a new national lockdown in England, HM Revenue & Customs (HMRC) has issued new warnings after it received reports that fraudsters were attempting to dupe taxpayers by pretending to be the tax authority. Throughout the last year, criminals attempted to scam businesses...
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FSB proposes move to turn Covid emergency debt into shared ownership schemes
20 January 2021
The Federation of Small Businesses (FSB) is calling on the Government to introduce new measures to help companies struggling with COVID-related debt, including employee shared ownership. The FSB has said that businesses are facing “unmanageable” levels of Coronavirus debt – with four out of 10 small businesses describing...
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VAT – Post-Brexit arrangements
20 January 2021
The latest guidance on VAT on imports and services to and from the EU is complex and businesses need to account for this in their trading. To help we have provided a brief summary below, but we highly recommend you seek additional advice.
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Insurance industry to pay out on COVID-19 business interruption claims
18 January 2021
More than 370,000 small businesses in England and Wales could be due a payout on their business interruption insurance after the Supreme Court ruled in favour of payments being made on previously refused claims and policies. A number of insurers have lost an appeal against an earlier ruling, brought in a test case by the Financial...
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Understanding the “Rules of Origin”
14 January 2021
Businesses exporting to the European Union need to understand how “Rules of Origin” work to benefit from the UK-EU Free Trade Agreement, as many goods and services exported to the EU will remain tariff-free, providing these rules are met. The Rules of Origin establish the country of origin of imported and exported goods...
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Case Studies
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Customer care is top of the list for packaging business
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Sometimes a business does exactly as it says on the tin
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Child's play with proactive accounts management
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A modern approach required for music moguls
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Smiles all round for dental practice
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A taste for growth, a thirst for knowledge
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Taxing demands with old school charm
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A shared passion for architecture and a head for numbers
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Cut above the rest in personal management style