What happens if VAT rates are changed

A number of EU countries have reduced VAT rates in an attempt to stimulate the economy: if VAT rates fall, prices should fall encouraging consumers to spend more. There has been much press commentary recently that Rishi Sunak will announce a similar reduction in the UK. Note, at present this Read more…

Unwinding furlough

Last month we commented on the changes to the Coronavirus Job Retention Scheme (CJRS) that commenced at the beginning of this month (1 July 2020). Now that we have the option to bring back employees on a part-time basis and still have a measure of support for their unpaid time, Read more…

New support for High Street

A package of support to help high streets to get back on their feet was launched 12 June 2020. This announcement was made just days before shops were allowed to reopen on 15 June. The High Streets Task Force will provide access to cutting-edge tools, training, information and advice for Read more…

Tax Diary July/August 2020

1 July 2020 – Due date for corporation tax due for the year ended 30 September 2019. 6 July 2020 – Complete and submit forms P11D return of benefits and expenses and P11D(b) return of Class 1A NICs. 19 July 2020 – Pay Class 1A NICs (by the 22 July Read more…

Lock-down independence day 4th July 2020

The changes to lock-down announced by the Prime Minister last week are summarised below. Most are effective from 4th July 2020. Pubs, restaurants and hairdressers will be able to reopen, providing they adhere to COVID Secure guidelines. From the same date, two households will be able to meet up in Read more…

Trade Credit Insurance update

Trade Credit Insurance provides cover to hundreds of thousands of business to business transactions, particularly in non-service sectors, such as manufacturing and construction. It covers suppliers selling goods against the company they are selling to, defaulting on payment and giving businesses the confidence to trade with one another. Due to Read more…