Today, Rishi Sunak has unveiled his latest plans to MPs in the House of Commons, to deal with the current cost of living crisis. Increased activity as the economy emerges from Covid-19 restrictions, the war in Ukraine, national minimum wage increases, and rising food prices are all resulting in upward pressure on prices. The Office…
Today, Rishi Sunak has unveiled the latest budget to MPs in the House of Commons, which includes the government’s latest plans on taxation and spending policies. This is the second budget of the year, following on from the previous March statement, illustrating the ever-changing environment and quick responses the government has needed to make to…
When we summarised last year’s budget highlights, the idea that the focus would still be on combating Covid-19 a year later seemed remote. With large scale economic uncertainty still present in many of our business sectors, it is likely that conversations regarding the UK’s recovery will be heard for some time to come. The chancellor,…
As part of the government’s funding strategy for Covid-19 last year, over half a million businesses deferred VAT payments that were due between 20 March – 30 June 2020. Businesses that still have outstanding VAT from this period can choose to pay the deferred VAT in full on or before 31 March 2021 or join…
Additional business grants – Retail, Hospitality & Leisure As we begin the third national lockdown in the last 12 months, the chancellor has announced a new support package for affected businesses. This particular grant scheme targets UK businesses in the retail, hospitality and leisure sectors. Value of the grant The grant will be awarded as…
Changes to the way VAT works came in to play on 1 January 2021 when the Brexit transition period ended. Whilst there have been minimal changes to VAT treatment on UK domestic transactions, there have been a number of differences to VAT treatment on international transactions. Importing goods from the EU The rules that currently…
In what has been a turbulent year for businesses across the UK, we are delighted to be able to announce the opening of our third office, just two years after opening our Exeter-based site. The new office is located near Axminster and functions as a new home for our payroll operations. Misty Nickells, who only…
The chancellor Rishi Sunak has given a statement that he hopes “will give people up and down the country immense comfort over what will be a difficult winter”, by further extending the CJRS and SEISS schemes. The government had been due to finalise the furlough scheme at the end of October, but a series of…
With a second national lockdown commencing on Thursday 5th November, the chancellor Rishi Sunak has announced an extension to the Coronavirus Job Retention Scheme (CJRS). The scheme will now run until December when it is replaced by the Job Support Scheme. Eligibility – CJRS Version 3 Unlike the second iteration of the CJRS, all employers…
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…