If the following criteria apply, this is what our government recommend that you do from 1 January 2021: You: Are British Live and work in the UK Travel to the EU for business reasons Have no plans in the short-term to travel abroad for holidays Do not plan to move to the EU Run and/or […]

From 1 January 2021, if your business is registered for VAT in the UK, you will need to consider how to treat VAT added to imports from the EU. Accounting for import VAT on your VAT Return means you will declare and recover import VAT on the same VAT Return, rather than having to pay […]

The following update is copied from a government press release recently issued by the Department for Business, Energy & Industrial Strategy. New proposed measures to allow workers’ greater freedom to find new or additional work were unveiled by Business Secretary Alok Sharma 4 December 2020. In a major win for the UK’s lowest paid workers, […]

To answer this question, we should take a look at a few adjectives that have been used to describe COVID-19’s effects on our personal and business lives. For example, unexpected, unprecedented, disruptive… Prior to the pandemic we assumed that tomorrow would turn out much like yesterday. Many businesses had become accustomed to managing cash flow […]

A summary of the business elements of the recent Spending Review for next year are set out below: Continuing the UK’s recovery from coronavirus The Spending Review has set out the government’s intention to maintain support to protect jobs, businesses and livelihoods, while stimulating the UK’s economic recovery. In the Spending Review the government has […]

1 December 2020 – Due date for Corporation Tax payable for the year ended 28 February 2020. 19 December 2020 – PAYE and NIC deductions due for month ended 5 December 2020. (If you pay your tax electronically the due date is 22 December 2020) 19 December 2020 – Filing deadline for the CIS300 monthly […]

Most smaller businesses will not have the resources to train and employ their own customs clearance staff in which case you may have to consider using a customs agent or broker. We have reproduced the advice on the GOV.UK website on this critical issue below. If you do import or export goods from and to […]

A reminder that It is possible to make small tax-free payments to employees, including directors, and this might be an appropriate time to make a small tax-free bonus in advance of the annual Christmas, New Year holidays. Employers and employees don’t have to pay tax on small benefits provided they comply with the following rules: […]

If you have still not submitted all of the information we need to complete your 2019-20 tax return, could we ask you to respond as soon as you can as the deadline is fast approaching – 31 January 2021. HMRC has made no announcement that this deadline will be extended. Accordingly, the initial £100 late […]

Most employers who are eligible will be aware that the furlough scheme (the Coronavirus Job Retention Scheme) has been extended for five months – from 1 November 2020 to 31 March 2021. The general terms for the first quarter to 31 January 2021 are: Maximum claim per employee is 80% of hours not worked. Furlough […]