by Karen | Nov 13, 2020 | Accounting, Covid-19, Tax
Where a family company has cash in the bank but profits have been adversely affected by the pandemic, directors of a family company may wish to take a short term loan to enable them to meet personal bills, with a view to clearing the loan with a dividend payment when...
by Karen | Nov 6, 2020 | Accounting, Covid-19, HMRC
The Government has extended Furlough to March and increases the self-employed support scheme. As the lockdown has now started for England and continues elsewhere, the Government has changed its mind again about business supports and decided to extend the Coronavirus...
by Karen | Oct 22, 2020 | Accounting, Brexit, HMRC
In June 2020, the Government announced that it was making funding available to customs intermediaries and businesses to help increase their capacity to make customs declarations. Broadly, businesses need to prepare ahead of new procedures coming into play in 2021...
by Karen | Sep 25, 2020 | Accounting, Covid-19, HMRC, VAT
The hospitality and leisure industries as we all know, have been severely affected by the Coronavirus pandemic. To help businesses in these sectors to get back on their feet, the Government has reduced the rate of VAT to 5% rather than the standard rate of 20%. This...
by Karen | Sep 16, 2020 | Accounting, Financial planning, HMRC, Inheritance tax
Inheritance tax is normally payable by the end of the sixth month following that is which the person died. So, for example, if someone died on 4 April 2020, any inheritance tax due on their estate would be due by 31 October 2020. Often the deceased estate will include...
