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Blog

Brexit planning checklist

Posted: 18th Nov 2020 by Clair Watmore Brexit, Business Advice General, Taxation

The Brexit transition period comes to an end on 31 December this year. After this date, the UK will no longer be in the EU Single Market or Customs Union and free movement will stop. This will have a profound impact on many businesses, especially those that trade with European customers or suppliers. There is… Read more

Government business grants

Posted: 16th Nov 2020 by Clair Watmore Business Advice General, Coronavirus, Corporate Finance

The latest Government grants cover both the brief period York was in Tier 2 restrictions and the current national lockdown. Businesses may be eligible for up to 2 grants (1 from each period), as payments cover different periods and types of business. Each grant must be applied for separately. Businesses will be able to apply… Read more

Extended Self-Employment Income Support Scheme and Government-backed loans

Posted: 5th Nov 2020 by Clair Watmore Business Advice General, Coronavirus, Corporate Finance, self employed

The Government has announced it will extend existing support measures to help businesses and the self-employed business community in the weeks ahead. As part of its latest support package, the Self-Employment Income Support Scheme (SEISS) and the various Government-backed loans, including the Bounce Back Loan, Coronavirus Business Interruption Loan and Future Fund, will see further… Read more

Extension to job support scheme and business support update

Posted: 4th Nov 2020 by Clair Watmore Business Advice General, Coronavirus, Corporate Finance, Furlough

The Government has extended the Coronavirus Job Retention Scheme (CJRS) following the announcement of new Coronavirus restrictions in England from Thursday 5 November 2020 to Wednesday 2 December 2020, which will require many businesses to close. It has also confirmed that those businesses that are required to close will be eligible for business grants of… Read more

Government Announces New Lockdown Support Measures

Posted: 13th Oct 2020 by Clair Watmore Business Advice General, Coronavirus, Furlough

The Chancellor has announced that the Government will expand the new Job Support Scheme (JSS) to assist jobs and businesses required to close their doors as a result of tougher Coronavirus restrictions. The announcement was made ahead of new plans to introduce a tier-based system for lockdowns across the country, which could force some businesses… Read more

SME and Kick-starting tourism grant funding closes 5 October

Posted: 1st Oct 2020 by Clair Watmore Business Advice General, Corporate Finance

North and West Yorkshire Stage 1 applications for the SME and Kick-starting tourism grant funding close at 10am on Monday 5 October. The government has announced new SME and Kick-starting tourism grant funding to help small and medium-sized businesses (SMEs) gain access to professional support, new equipment and technology. The grant can cover digital, legal,… Read more

Government Winter Economy Plan

Posted: 28th Sep 2020 by Clair Watmore Business Advice General, Coronavirus, Corporate Finance, self employed, Taxation

On Thursday 24 September the Chancellor delivered his “Winter Economy Plan”, in lieu of the Autumn Budget which has been cancelled. This is not surprising, given that it is difficult for anyone, individuals, businesses, or countries to budget at the moment. His plan was very much business focused, and the main announcements are detailed below: Job… Read more

30-day reporting of CGT on disposals of UK residential property

Posted: 24th Sep 2020 by Clair Watmore Landlords, Property, Taxation

Reporting and payment of capital gains tax (CGT) on the sale or disposal of residential property were introduced by HMRC on 6 April 2020.  The CGT changes were previously reported in our blog earlier in the year. We have set out below the main points to note on 30-day reporting as a reminder. CGT reporting and… Read more

HMRC publishes Job Retention Bonus guidance

Posted: 11th Sep 2020 by Clair Watmore Business Advice General, Coronavirus, Furlough

Updated: 5h November 2020 – The Jobs Retention Bonus (JRB) will now not be paid in February and the government will redeploy a retention incentive at the appropriate time. The purpose of the JRB was to encourage employers to keep people in work until the end of January. However, as the CJRS is being extended… Read more

Making Tax Digital – Further measures on the way

Posted: 1st Sep 2020 by Clair Watmore Making Tax Digital, Taxation

The government has recently announced Making Tax Digital legislation will extend MTD to low turnover businesses and eventually to the realm of income tax. Presently, only businesses with an annual turnover in excess of £85,000 must file returns using approved software and keep a digital record of transactions. However, from April 2022, all VAT registered… Read more