Getting your tax return for 2019/20 submitted may not seem like a priority right now but many people will be due a refund so getting your tax return submitted quickly will mean you get your money sooner. There are other reasons why it will make sense ... [Continue Reading]
Home working – Tax Free payments
Many employees are working from home. An employer can make some tax-free payments to employees, although it isn’t compulsory, - and it’s not a lot. Home working allowance Someone working from home will incur extra costs, including heating etc. They ... [Continue Reading]
Coronavirus Business Interruption Loan Scheme
The Coronavirus Business Interruption Loan Scheme (CBIL) sounds great. 12 months interest paid by the government. The government will also pay any fees. Why isn’t every business applying? Maybe it isn’t quite as simple or straightforward as it ... [Continue Reading]
Furlough – Calculating what to pay
Calculating what an employee on furlough needs to be paid has led to a number of queries. Guidance has been issued and a summary might help. Cut off Only employees which were on the payroll on 28 February 2020 can be furloughed. This is the first ... [Continue Reading]
Furlough – A quick guide
Putting an employee on furlough is a great option for many businesses and employees. It gives employees a reasonable, certain, income in uncertain times. However, many employers are assuming that “furlough” is automatic. It isn’t and this could cause ... [Continue Reading]
VAT and Covid-19 info
Information and clarification is thin. The expected clarification announcement by the Chancellor did not take place. However, there are a few droplets of information being released. VAT Deferral Scheme HMRC are saying that no one needs to pay VAT ... [Continue Reading]
Coronavirus – Additional aid for businesses
The Chancellor has announced additional aid for businesses to help them through disruption caused by the Coronavirus. We can’t find a lot of the detail about the proposals announced because they probably haven’t been finalised yet. Here is our ... [Continue Reading]
Voluntary work for a charity
Charities need help and support A sole trader or a partner may do some voluntary work for a charity and may even provide materials. You may have done so, or know someone who has. If it is voluntary work, it doesn’t always mean that the cost of ... [Continue Reading]
Business Challenges
For most people in business, either self-employed people or directors of small companies, a few days off over Christmas & New Year may give time to reflect on the business challenges overcome in the last year and challenges likely to be faced in ... [Continue Reading]
Mortgages if you run your own business
Running your own business, whether self-employed, as a partnership or through a limited company seems to cause problems when it comes to obtaining a mortgage. This is particularly relevant to anyone who hasn’t been in business for a long time and ... [Continue Reading]
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