Pubs that principally serve alcohol in tier two and three areas are set to receive additional financial support over the Christmas period following an announcement by the Government.
Advisory Fuel Rates: updates from 1 December 2020
HM Revenue and Customs (HMRC) has updated the Advisory Fuel Rates (AFRs) which come into effect on 1 December 2020, for company car drivers requiring fuel costs from their employer. However, you can use the previous AFRs for up to one month from the date of the new rates.
Failure to secure EU data adequacy decision could cost small businesses billions, study reveals
Data processing could cost small businesses up to £1.6 billion should the UK fail to show the EU that it has adequate levels of data protection, a major study has revealed.
Brexit: How to claim grant funding to help cover the costs of completing new customs declarations
If you are a business who imports or exports products overseas, you may be entitled to grant funding to cover the cost of recruiting, training and adapting your business to the new demands of global trade. The grant funding scheme comes ahead of the end of the Brexit transition period, after which the UK will […]
Access to European Union VAT refund system to end on 31 March 2021, HMRC confirms
HM Revenue & Customs (HMRC) has confirmed that access to the European Union VAT refund system for expenses incurred before 01 January 2021 will cease on 31 March 2021. After this date, UK businesses wishing to claim a VAT refund will have to do so manually through the relevant member state’s VAT system. Any expenses […]
Self-employed profits must be “significantly reduced” to claim third SEISS grant, says HMRC
Self-employed workers’ profits must be “significantly reduced” in order to claim the third instalment of the Self-Employment Income Support Scheme (SEISS), it has been revealed.
Spending Review highlights long-term economic impact of Coronavirus pandemic
The Chancellor’s statement to Parliament setting out his Spending Review decisions came against a backdrop of predictions from the Office for Budget Responsibility (OBR), which indicated that the UK economy will shrink by 11.3 per cent this year – the largest fall in output for 300 years. In response, he said that the Coronavirus Pandemic […]
Important deadlines approach for the furlough scheme
Businesses across the UK are being reminded of key deadlines and actions for the Coronavirus Job Retention Scheme (CJRS), which are just days away. The CJRS was extended recently to 31 March 2021 for all parts of the UK. Since 1 November 2020, the UK Government has agreed to pay 80 per cent of employees’ […]
Third round of Self-Employment Income Support Scheme (SEISS) opens on Monday with tighter eligibility criteria
The third round of the Self-Employment Income Support Scheme (SEISS) will open on Monday 30 November 2020 with tighter eligibility criteria than have applied to the previous two rounds of the scheme. The third grant is worth 80 per cent of a self-employed individual’s usual trading profits over three months, capped at £7,500 in total […]