Rishi Sunak has today announced further support for jobs and businesses over the coming months. An acknowledgement towards the frustrations of those living in areas with tighter restrictions was given, along with a reiteration that a “balanced approach” continues to be the right way forward. We highlight the principle funding changes below. Business grants extension…
Chancellor Rishi Sunak has today announced an expansion to the Job Support Scheme (JSS) that will see additional funding become available for some struggling businesses. The new measures come in response to widespread criticism that the JSS will not do enough to help businesses that are forced to shut due to covid-19 restrictions. When the…
Everyone has been impacted by coronavirus in one way or another, but we may not understand the full extent of the economical and sociological damage for some time. The adverse effects of COVID-19 have been plain to see since lockdown officially started in the UK in March, and it came as no surprise to read…
Additional funding has been announced as part of the Kickstart scheme to help businesses recover from the adverse effects of coronavirus. Funding of between £1,000 – £3,000 will become available at the end of August for specialist professional advice covering HR, financial (including accountancy), IT, digital and consultancy sectors. The grant could also be spent…
Individuals and members of partnerships who meet the eligibility criteria will be able to claim the second SEISS grant from the 17th August. How is it calculated? The second grant will be slightly reduced in value, calculated by taking 70% of your average monthly trading profits from the last three Self Assessment Tax Returns. This…
Chancellor Rishi Sunak’s address in the House of Commons today has brought updates to existing schemes, as well as introducing some new incentives to help in restarting the economy. There is a clear focus on trying to prevent unemployment rates from spiralling in the coming months. The chancellor continues to refute the notion that mass…
The chancellor has announced that changes to the Coronavirus Job Retention Scheme are being brought forward to 1st July, as well as a second grant being made available to self-employed persons. Coronavirus Job Retention Scheme The second phase of the CJRS is set to begin on 1st July, a month earlier than originally planned. CJRS…
Amid growing concerns about the scale of disruption expected because of the coronavirus, the Bank of England has today announced an emergency cut in interest rates. Why has the cut been made? The decision by policymakers to reduce rates from 0.75% to 0.25% was not only taken to lessen the cost of borrowing to historically…
With big changes to the way Capital Gains Tax (CGT) due from residential property sales is reported and paid coming on 6th April, it is important to understand how this could affect you. What are the changes? The impending changes primarily reduce the time period allowed to report and pay the Capital Gains earned on…
Whether you are looking to reduce your environmental impact or save money, there are several great reasons to consider getting an electric car through your company. What are the tax implications for the business? One of the biggest differences between electric vehicles (EV) and their petrol counterparts is how they are treated for tax purposes….