Summer Statement

The Chancellor, Rishi Sunak continued with his campaign to support the business and jobs community today, 8 July 2020, as ...
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Reclaiming VAT after deregistration

Businesses can close a VAT registration for two main reasons. For example, the business has stopped making taxable supplies or ...
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Corporate Insolvency and Governance Bill receives Royal Assent

The Corporate Insolvency and Governance Act 2020 (the Act) received Royal Assent, with most provisions coming into force on 26 ...
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SEISS further update

HM Treasury has published a further Treasury Direction made under the Coronavirus Act 2020, ss. 71 and 76, which modifies ...
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Finance Bill 2020 progress

The government’s Finance Bill 2020 (formally known as Finance Bill 2019-21) has now completed its passage through the House of ...
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UK VAT claims by non EU businesses

There are special rules for businesses established outside the EU submitting a claim for VAT incurred on goods or services ...
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Reminder of businesses not opening 4 July 2020

There are business sectors that have not yet been given permission to reopen in England. There has been no indication ...
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Reminder of businesses opening since 4 July 2020

A reminder that since 4 July 2020, many business sectors have been given permission to reopen in England. The businesses ...
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Tax Credits updates required this month

Families and individuals that receive tax credits should ensure that they review their tax credit claims by 31 July 2020 ...
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Redundancy process map

Acas has published a process map for employers who are having to consider making redundancies due to coronavirus. The interactive ...
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What is working capital?

Accountants would say that working capital is the difference between current assets and current liabilities. It is the capital of ...
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The new reality

It may be some time before we could state with some certainty that it was back to business as usual; ...
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Stock valued at net realisable value

One of the acceptable methods to value stock is at the lower of cost and net realisable value (NRV). NRV ...
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IHT exemption for gifts out of income

It is possible for wealthier taxpayers to take advantage of the IHT exemption for gifts and payments that are paid ...
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Trusts and CGT

A trust is an obligation that binds a trustee, an individual or a company to deal with the assets such ...
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Vehicle MOT dates

The government has announced that mandatory MOT tests for car, motorcycle and van owners in England, Scotland and Wales are ...
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Reporting Capital Gains on residential property

The Capital Gains Tax (CGT) reporting and payment date for UK residents that sell a residential property changed from 6 ...
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Financial help for debt advisers

The government has announced that an extra £37.8 million will be made available to support debt advice providers during 2020-21 ...
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Government support for pubs, cafes and restaurants

The government has confirmed a further easing of lockdown as pubs, cafes, restaurants, hotels, hairdressers and cinemas have been given ...
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Updated HM Treasury instructions re: CJRS

On 26 June 2020, the Chancellor, Rishi Sunak made a further (third) Treasury Direction under sections 71 and 76 of ...
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Identifying clients in need of help

Most of us fire-fight on a daily basis. We face distractions from multiple directions and basically have no time to ...
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Depreciation

Literally, the word depreciation means a reduction in the value of an asset over time. It recognises the fact that ...
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What are debits and credits?

You may have come across the terms debit and credit and perhaps wondered exactly what do they mean? Certainly, if ...
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Shielding measures to be relaxed in England from 1 August 2020

From 1 August 2020 onwards, it is intended that the shielding programme will be “paused” in England so clinically extremely ...
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