The temporary 5% VAT rate that has applied to supplies made in the tourism and hospitality sector since the start of the pandemic comes to an end at the end of September. The rate then increases to 12.5% from 1 […]
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big tax bills for the self-employed in 2022/23
Last month we mentioned that draft legislation has been published to change the basis periods for the assessment of self-employe profits to coincide with the tax year. The proposed new rules provide that from 2023/24 onwards profits or losses will […]
SEPTEMBER IS THE LAST MONTH FOR CJRS “FURLOUGH” GRANTS
The Government are pulling the plug on support to employers for furloughed staff at the end of September as they anticipate that the economy will be back to normal by October. The grant claims for employees furloughed in the month […]
a question of control
The off-payroll working (IR35) tests are still relevant despite the blanket approach often in place regarding contractors’ employment status. They must always be applied if you are contracting for a small organisation. Two recent decisions in the Upper Tribunal closely […]
bounce back repayments begin
The bounce back loan scheme (BBLS) has kept many businesses afloat over the past year, but, with the first repayments now starting to become due, many of the 1.5 million businesses that borrowed money could fall into difficulty. Default position The BBLS was launched in May […]
MTD income tax pilot
The pilot scheme for Making Tax Digital (MTD) for income tax is now open for self-employed workers and landlords. The scheme becomes mandatory for accounting periods commencing on or after 6 April 2023, so those who join now will get […]
protecting your business against fraud
Instances of fraud have increased during the pandemic – what can you do to help mitigate the risks? Invoice fraud is on the rise and while not a particularly new scam, it can be catastrophic for businesses who fall victim […]
what is crowdfunding and how does it actually work?
Crowdfunding is a way of raising money for a business venture, personal endeavor, or charitable cause, where a large number of people invest in or donate money to the cause. Crowdfunding is becoming more popular with startup and early-stage businesses […]
developing the next generation of business leaders
Businesses need to invest in nurturing the next generation of talent. Regardless of the industry that you work in, how you and your management team nurture the next generation of talent in the first decade of their careers can have […]
fifth self-employed income support grant to be paid in July
The fifth (and final) SEISS grant will be available for the self-employed to claim towards the end of July. The eligibility criteria remain broadly the same as the fourth grant. Self-employed profits in 2019/20 must not exceed £50,000 and must […]
new fund opens for island communities
Businesses and community groups located across Scotland’s inhabited islands are now able to apply for grants of up to £150,000 through the new Island Communities Fund (ICF) for projects focussed on supporting sustainable island economies and the journey towards net […]
more information on CJRS claim for wages
Information about changes from 1 July 2021 has been added and claims for furlough days in June 2021 must be made by 14 July 2021. The Coronavirus Job Retention Scheme has been extended until 30 September 2021. From 1 July […]
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