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 11, 2020 | Accounting, Covid-19, HMRC
As the Coronavirus Job Retention Scheme draws to a close, employers may face the difficult decision to make some employees redundant. Legislation was introduced at the end of July to protect furloughed employees. Entitlement An employee is entitled to statutory...
by Karen | Sep 4, 2020 | Accounting, Business Costs, Covid-19, HMRC
Sadly, not all businesses will survive the Covid-19 pandemic, and many may take, or be forced to take, the decision to close where losses make the business untenable. The tax legislation provides various relief for losses including a special relief for losses made in...
by Karen | Aug 25, 2020 | Accounting, Business Costs, Covid-19, HMRC
The Covid-19 pandemic has seen many employees being required to wear personal protective equipment (PPE) at work. The way in which this is provided and the extent that it is needed to enable the employee to undertake the duties of their employment will determine the...
by Karen | Aug 17, 2020 | Accounting, Covid-19, HMRC
Claims for the second grant under the Self-Employment Income Support Scheme (SEISS) can be made from today, the 17th of August 2020 onwards. Who can claim? A self-employed individual or member of a partnership who meets the eligibility criteria and whose business has...
by Karen | Jul 28, 2020 | Accounting, Covid-19, HMRC
To help employees out during the Covid-19 pandemic, employers may provide ‘hardship’ loans to employees. Where loans are provided, what are the tax implications? No special rules There are no special relaxations to deal with loans provided to help employees meet...
