Spring Budget 2021 Summary
COVID-19 related support measures for UK businesses The Treasury is to continue the two existing major support schemes in an attempt to hold back a significant increase in unemployment rates as business owners grapple with the effects of COVID-19 disruption. Details are set out below. Coronavirus Job Retention Scheme This scheme, nicknamed the Furlough Scheme, […]
Gender gap closing in UK board rooms
More than a third (34.3%) of FTSE 350 board positions are now held by women, with the number of women on boards increasing by 50% over the last 5 years, data released today (Wednesday 24 February) shows, representing a dramatic shift in representation at the very highest levels of British business. The data has been […]
Tax Investigation Service – we are here to help you
As your dedicated accountant, we’re here to help you manage any tax enquiries you might receive. It is vital to be led by specialist advice and guidance when dealing with HMRC. With the tax investigation fee protection service our fees will be paid for if HMRC investigate you. By subscribing to our service, you’ll also […]
Challenges as we emerge from lockdown
There is no guarantee that the heady mix of vaccination and easing of lockdown will contain the spread of COVID-19. However, based on government predictions, they are willing to start the process of easing lockdown restrictions. The relaxation of restrictions will depend on four tests. They are: The vaccine deployment programme continues successfully. Evidence shows […]
Supreme Court determines Uber drivers are workers
In a landmark decision handed out by the Supreme Court last week, the respondents, Yaseen Aslam, James Farrer, Robert Dawson and others have had their claim upheld that they are “workers” and not self-employed drivers for Uber; as such they qualify for rights under the Employment Rights Act, the Minimum Wage Act and Working Time […]
Do you qualify for the fourth SEISS grant?
To qualify for the Self-Employed Support Scheme HMRC expects you to make an honest assessment about whether you reasonably believe your business will have a significant reduction in profits as well as meeting financial considerations based on previously submitted tax returns. The closing date for the third grant – 1 November 2020 to 29 January […]
Tax claims if working from home
Many employed persons will have spent a large chunk of the current tax year, 2020-21, working from home due to COVID restrictions. HMRC will accept a claim to cover any additional costs you may have incurred. Must be required to work from home You may be able to claim tax relief for additional household costs […]
UK Pensions Bill receives Royal Assent
The UK Pensions Act will bolster protections for savers and further the government’s green agenda by supporting progress towards net zero. New powers to penalise errant bosses The Act will strengthen protections for pension savers by extending the powers of the Pensions Regulator, introducing the power to issue civil penalties of up to £1 million, […]
Prospects for 2021
The short-term outlook for UK businesses operating in sectors badly affected by the present COVID lock-down directives is not good. Many cannot trade, many others are facing reduced turnover. Both will be struggling to maintain reserves – stay solvent – and cash-flow. There are strategies that affected businesses can use to reduce fixed costs and […]
New UK subsidies to replace EU State Aid
The following announcement provides encouragement that a replacement for the EU State Aid process is in development. Details from a recent Government press release are set out below. A new UK-wide system for providing more flexible and tailored financial support to businesses has been set out under plans by the Business Secretary, taking advantage of […]
