Parting shot from the Chancellor
December 22, 2020

For a man that has admitted he has concerns about the level of government funding committed to the support of businesses during the last nine months, Rishi Sunak’s disclosure last week that he is extending the furlough scheme to the end...

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Looks like we are heading for a no-deal exit from the EU
December 17, 2020

If the following criteria apply, this is what our government recommend that you do from 1 January 2021:

You:

  • Are British
  • Live and work in the UK
  • Travel to the EU for business reasons
  • Have no...

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Accounting for import VAT on your VAT return
December 15, 2020

From 1 January 2021, if your business is registered for VAT in the UK, you will need to consider how to treat VAT added to imports from the EU.

Accounting for import VAT on your VAT Return means you will declare and recover import VAT...

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Possible crackdown on unfair employment clauses
December 10, 2020

The following update is copied from a government press release recently issued by the Department for Business, Energy & Industrial Strategy.

New proposed measures to allow workers’ greater freedom to find new or additional...

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What have we learnt from 2020?
December 8, 2020

To answer this question, we should take a look at a few adjectives that have been used to describe COVID-19’s effects on our personal and business lives. For example, unexpected, unprecedented, disruptive…

Prior to the...

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Summary of spending review 2021-22
December 7, 2020

A summary of the business elements of the recent Spending Review for next year are set out below:

Continuing the UK’s recovery from coronavirus

The Spending Review has set out the government’s...

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Tax Diary December 2020/January 2021
December 2, 2020

1 December 2020 - Due date for Corporation Tax payable for the year ended 28 February 2020.

19 December 2020 - PAYE and NIC deductions due for month ended 5 December 2020. (If you pay your tax electronically the due date is 22 December...

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Customs changes from 1 January 2021
December 2, 2020

Most smaller businesses will not have the resources to train and employ their own customs clearance staff in which case you may have to consider using a customs agent or broker. We have reproduced the advice on the GOV.UK website on this...

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Trivial benefits are not so trivial
December 2, 2020

A reminder that It is possible to make small tax-free payments to employees, including directors, and this might be an appropriate time to make a small tax-free bonus in advance of the annual Christmas, New Year holidays.

Employers and...

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Self-Assessment filing deadline draws near
December 2, 2020

If you have still not submitted all of the information we need to complete your 2019-20 tax return, could we ask you to respond as soon as you can as the deadline is fast approaching – 31 January 2021.

HMRC has made no...

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