Dec 2020 – 2021 Budget, Are You Prepared?

The Chancellor has announced that the next Budget will be in March 2021. Speculation about tax increases centre on capital gains tax, however income and inheritance tax could also be on his list for reform or increases. Higher rate pension tax relief looks like it ...
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Dec 2020 – Reduced VAT Rate for Hospitality

Reduced VAT Rate for Hospitality The government has provided a boost to the hospitality sector by reducing the amount of VAT they have to pay over to HMRC on most sales made between 15 July 2020 and 31 March 2021 inclusive. The VAT rate for ...
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Dec 2020 – Brexit – The End of Transition is Nigh

Brexit - The End of Transition is Nigh The UK left the EU on 31 January 2020 but all trading arrangements, including VAT, are held in suspension until the end of the transition period on 31 December 2020. Whatever deal is finally agreed between the ...
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Dec 2020 – VAT on Cancellation Fees

Following the COVID-19 shutdown, many businesses are reviewing their overhead costs, such as rent, power, security and IT systems. If you want to cancel a contract for one of those services before the termination date, the supplier may charge you a cancellation or early termination ...
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Nov 2020 – Clarke Nicklin Gearing Up for Electric Cars

CLARKE NICKLIN GEARING UP FOR ELECTRIC CARS This week the prime minister announced a ban on the sale of new petrol and diesel cars and vans from 2030, but some hybrids would still be permitted. This is all leading to a ‘green industrial revolution’ to ...
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Nov 2020 – Preparing for Brexit

Its a matter of weeks until we leave the EU, Brexit transition time is running out – Make sure you and your business are ready! The actions people and business owners need to take vary based on their circumstances. They include: Making sure you are ...
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Nov 2020 – 20 Point UK Brexit Planning Checklist

There is still some uncertainty as to whether the UK or EU will agree a tariff free trade agreement. Either way UK business will face additional documentation for importing and exporting goods to the EU from 1 January 2021. Planning for the new requirements seems ...
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Nov 2020 – Business Support Update

Business Grants Businesses required to close in England due to local or national restrictions will be eligible for the following: For properties with a rateable value of £15k or under, grants to be £1,334 per month, or £667 per two weeks; For properties with a ...
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Nov 2020 – Making Use of Trading Losses

Making use of trading losses - with the economy hit hard by COVID-19, many businesses will make losses this year. If a business is operated as a limited company, those losses are stuck within the company; they cannot be used against the owner’s personal income ...
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Nov 2020 – Statutory Sick Pay Extended

Statutory Sick Pay extended - Employers must now operate two parallel systems of Statutory Sick Pay (SSP) for their employees: COVID-19 related SSP and SSP for all other health related matters that prevent employees from working. In both cases, the employee must earn at least ...
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Nov 2020 – Redundancy Pay

Redundancy pay explained - If you need to make staff redundant, you must give them a written statement setting out the amount of their redundancy payment and how it was calculated. It is important to get this right, so start with the employee’s employment contract ...
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Oct 2020 – Updated Business Support Measures

EMPLOYERS FACING DECREASED DEMAND (JSS OPEN) For businesses facing reduced demand the JSS Open scheme will give employers the option of keeping their employees in a job on shorter hours rather than making them redundant. The government has announced that it will increase the scale of ...
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