News
HM Revenue & Customs publishes further details of the Job Support Scheme
14 October 2020
HM Revenue & Customs (HMRC) has published further details of the Job Support Scheme (JSS), announced by the Chancellor during his Winter Economy Statement in Parliament on 24 September. The JSS is intended to support businesses facing reduced demand over the winter as a result of the Coronavirus crisis, helping to keep employees...
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Annual Investment Allowance – Time is running out
14 October 2020
Since 1 January 2019, the Annual Investment Allowance (AIA) for capital allowances has been £1 million – helping businesses to invest tax efficiently. However, from 1 January 2021, the AIA will fall back to just £200,000, reducing the amount of tax that can potentially be saved. By using the AIA, businesses can claim against...
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Accounting for mobile phone use
14 October 2020
During the last few months, to assist workers with working from home, many businesses have supplied a work mobile phone, but how should they account for this benefit? Typically, the provision of equipment, such as a mobile, could be considered a benefit in kind for tax purposes, however, an employee can benefit from an...
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Time to prepare (once again) for the VAT reverse charge
14 October 2020
In just a few months, more than 150,000 businesses connected to the construction industry will have to make a fundamental change to how they manage their VAT affairs. Although the world has been in lockdown, and with it, parts of the construction sector, the Government still intends to launch the VAT domestic reverse charge for...
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Is the Government considering a National Living Wage freeze?
14 October 2020
New reports have suggested that the Treasury may be considering postponing a planned increase to the National Living Wage (NLW) rates next year. Under plans outlined last December by then Chancellor, Sajid Javid, the legal minimum wage paid to workers over the age of 25 was due to rise by 6.2 per cent from £8.72 per hour to £9.21 per hour...
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Companies House reforms to combat fraud and assist businesses
14 October 2020
Companies House, the UK’s register of company information, is to be reformed under new plans designed to prevent fraud and money laundering. As part of the reforms, directors will have to have their identity verified by Companies House before they can be appointed. The amendment will increase the accuracy of data that...
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Price of plastic bags in England to double to 10p
14 October 2020
The price of plastic bags in larger retailers in England will double from 5p to 10p from April next year. The 5p charge was first introduced in 2015 and the Department for Environment, Food and Rural Affairs (DEFRA) says that plastic bag use has fallen from 140 a year per adult in 2014 to four now. George Eustace, the Environment...
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New Coronavirus regulations place self-isolation obligations on employers
14 October 2020
The Health Protection (Coronavirus, Restrictions) (Self-Isolation) Regulations 2020 came into effect on 28 September 2020 and place new obligations on employers in relation to self-isolation. Regulation 7 creates a new offence of knowingly permitting a worker, including agency workers, to attend a place other than where they...
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Latest SEISS grants introduce new qualifying conditions
14 October 2020
As part of the Government’s plan to extend the Self-Employment Income Support Scheme (SEISS) for a further six months, HM Revenue & Customs (HMRC) has announced new conditions that must be met. The scope of the extended scheme will now be much narrower, with the third and fourth grants being less generous for the self-employed.
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Businesses may be entitled to insurance pay-out after important judgment
14 October 2020
A new judgment at the High Court has clarified that policyholders denied business interruption (BI) insurance claims due to COVID-19 may be due compensation. In an important test case, brought by the Financial Conduct Authority (FCA), the court has found in favour of BI policyholders after many insurers denied pay-outs...
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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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Taxing demands with old school charm
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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 shared passion for architecture and a head for numbers
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Cut above the rest in personal management style
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A taste for growth, a thirst for knowledge