May 2020 – CBILS and loan bounce back

I hope everyone is keeping safe and well. We are edging closer to the Government issuing guidance over the coming weekend on plans for the easing of Lockdown provisions. My expectation is that this will involve a staged easing, with businesses who can continue to ...
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May 2020 – VAT Registation Issues

The VAT registration threshold has been frozen at £85,000 until at least 31 March 2022. This may bring more businesses into the VAT fold if they increase their prices with the rate of inflation.This threshold can be a harsh cliff edge, as once VATable turnover ...
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May 2020 – Elect in Good Time

Events don’t always turn out as expected. For example, you may need to wait for a later profit or loss to arise before you can judge whether it’s right to elect to change the tax treatment of an earlier transaction. This is why the law ...
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May 2020 – Excited About Electrics

If you are considering acquiring a new company car, take account of the changing tax incentives for electrics.The taxable benefit for having an electric company car is currently calculated at 16% of its list price when new, but from 6 April 2020 the taxable benefit ...
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May 2020 – Innovate to Accumulate

Companies that invent new production methods or products can claim enhanced tax relief for the Research and Development (R&D) costs. Small and medium-sized companies can claim 230% of qualifying R&D costs, and a 14.5% payable tax credit if this extra deduction results in a loss!This ...
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Apr 2020 – Gov-backed Loans for Small Businesses

New 100% government backed loans for small businesses Businesses will be able to borrow between £2,000 and £50,000 and access the cash within days. Loans will be interest free for the first 12 months, and businesses can apply online through a short and simple form.Small ...
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Apr 2020 – Business Update – CJRS/CBILS

I hope everyone is keeping safe and well. We are working hard at Clarke Nicklin to help all our clients with a wide variety of matters linked to the Pandemic and lockdown. The Coronavirus Job Retention Scheme and the Coronavirus Business Interruption Loan Scheme are ...
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Apr 2020 – Job Retention Scheme Update – 14th

We are in the process of preparing for the required filings for Job Retention Scheme claims to HMRC and ensuring we are in a position to assist you with this. In addition, even if the Job Retention Scheme isn’t relevant for you, this is useful ...
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Apr 2020 – Business Update – 09th

I hope you are all keeping safe and well. We are all awaiting a Government update on the view of the position regarding lock down, although I am sure the vast majority of you are the same as me in thinking we wont see the ...
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Apr 2020 – Business Update for Payroll Clients

Update for Our Payroll Clients We are conscious that from the many queries received by our Partners, Managers and payroll staff, understandably the Job Retention Scheme has become a key factor for many of our clients in implementing measures to deal with the very significant ...
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Apr 2020 – Business Update – Job Retention Scheme

Job Retention Scheme – Some Practical Points Hopefully you have all received the previous updates sent out on the Job Retention Scheme when information on the scheme was published or being updated, or to provide some clarification when appropriate. We seem to be in a ...
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Apr 2020 – Prepare for off-payroll working

If you provide your personal services through your own company to large or medium-sized organisations, the way you are taxed may change for payments from 6 April 2020, due to the off-payroll working rules.Where your final customer is not small (it is large or medium-sized), ...
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