Blog

Which businesses can reopen 4th July 2020


July 8th, 2020

As the town of Leicester demonstrates, the recent announcement that many businesses would be able to reopen since 4 July 2020, depends on local conditions. Rates of infection in Leicester are causing concerns and consequently, local businesses were unable to reopen. However, for the rest of England (regional variations may apply for Scotland, Wales and […]


What happens if VAT rates are changed


July 6th, 2020

A number of EU countries have reduced VAT rates in an attempt to stimulate the economy: if VAT rates fall, prices should fall encouraging consumers to spend more. There has been much press commentary recently that Rishi Sunak will announce a similar reduction in the UK. Note, at present this is pure speculation. If announced, […]


Tax Diary July/August 2020


July 2nd, 2020

1 July 2020 – Due date for corporation tax due for the year ended 30 September 2019. 6 July 2020 – Complete and submit forms P11D return of benefits and expenses and P11D(b) return of Class 1A NICs. 19 July 2020 – Pay Class 1A NICs (by the 22 July 2020 if paid electronically). 19 […]


New support for High Street


July 2nd, 2020

A package of support to help high streets to get back on their feet was launched 12 June 2020. This announcement was made just days before shops were allowed to reopen on 15 June. The High Streets Task Force will provide access to cutting-edge tools, training, information and advice for high streets across England as […]


Brexit – no extension to transition period


July 2nd, 2020

It is now confirmed that the UK will neither accept nor seek any extension to the Transition Period. From 1 January 2020, the UK will have the autonomy to introduce its own approach to goods imported to GB from the EU. Recognising the impact of coronavirus on businesses’ ability to prepare, and following the announcement […]


Parents returning from paternity or maternal leave


July 2nd, 2020

One aspect of the 1 July changes to the CJRS was the closing date to new entrants was set as 30 June 2020. This disadvantaged parents who had been on extended parental or maternal leave in recent months and were intending to return to work after 30 June. The government has now confirmed that parents […]


Unwinding furlough


July 2nd, 2020

Last month we commented on the changes to the Coronavirus Job Retention Scheme (CJRS) that commenced at the beginning of this month (1 July 2020). Now that we have the option to bring back employees on a part-time basis and still have a measure of support for their unpaid time, what considerations should we consider […]


Lock-down independence day 4th July 2020


June 30th, 2020

The changes to lock-down announced by the Prime Minister last week are summarised below. Most are effective from 4th July 2020. Pubs, restaurants and hairdressers will be able to reopen, providing they adhere to COVID Secure guidelines. From the same date, two households will be able to meet up in any setting with social distancing […]


Option to defer VAT payments ends this month


June 25th, 2020

One of the government’s schemes to assist VAT registered businesses with their cashflow during the current COVID disruption was the deferral of VAT payments. The VAT payments that could be deferred cover payments due between 20 March 2020 and 30 June 2020. VAT traders that have taken advantage of this support will have likely deferred […]


Leaving salaries or dividends in your company


June 23rd, 2020

Director/shareholders of small companies may be considering reducing their salaries and/or dividends during this uncertain period. Even if firms are managing to maintain profits or breakeven, prudence would suggest that until things improve we should do what ever we can to preserve cash reserves. Many directors have taken the sensible option to minimise their salaries […]