by Paul Whyatt | Oct 7, 2020 | Business Advice, News
Many small businesses have been badly affected by COVID-19. These businesses have been able to apply for 100% Government-backed bank loans worth up to £50,000, and with no interest applied or repayments due in the first 12 months. Over a million loans have...
by Paul Whyatt | Oct 7, 2020 | Business Advice, News, Personal Tax
In his recent statement, the Chancellor announced that the SEISS would be extended for 6 months, from 1 November to the end of April 2021. This means that the scheme is now made up of four grants rather than the original two. If you’re eligible for the scheme...
by Paul Whyatt | Jun 17, 2020 | Business Advice, News, Taxation
Many businesses affected by the current crisis have received financial help from the Small Business Grant Fund (SBGF) and Retail, Hospitality and Leisure Grant Fund (RHLGF). If your business has received such a grant, do you have to pay tax on it? Taxable or...
by Paul Whyatt | Jun 15, 2020 | Business Advice, Business Start-up, Taxation
If you have a business which has a turnover below the current VAT registration threshold (£85,000), you can choose to voluntarily register for VAT. Whether this is worthwhile will depend on your specific circumstances. The key advantages and disadvantages of a...
by Paul Whyatt | Jun 12, 2020 | Business Advice, Taxation
Small and medium sized companies which incur qualifying R&D expenditure can claim generous corporation relief of 230% x qualifying R&D costs. This means that if a company spends £100 on R&D, it will receive tax relief as if it had spent £230. Where a...
by Paul Whyatt | May 29, 2020 | Business Advice, News, Taxation
The “Test and Trace” system was launched yesterday (May 28) in England. What happens if an employee is traced and forced to self-isolate – can they claim SSP? In short, yes. Entitlement to SSP has been extended to employees who are required to...
