The Coronavirus Job Retention Scheme

Furloughed members of staff must not work for the employer during the period of furlough. Furlough is from 1 March 2020, so is to be backdated. It will last for at least 3 months and will be extended if necessary. Note that while the scheme is backdated to the beginning of March as it is […]

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COVID-19 Chancellor gives support to millions of self-employed individuals

This Scheme allows self employed individuals to claim a TAXABLE grant of 80% of their trading profits up to  a maximum of £2,500 per month for the next 3 months (subject to extension). Who is it for; You can apply if you’re self employed or are in partnership & You have submitted your self assessment […]

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COVID-19 Support for businesses through deferring VAT and Income Tax payments

Government will support businesses by deferring Valued Added Tax (VAT) payments for 3 months. For VAT, the deferral will apply from 20 March 2020 until 30 June 2020. Eligibility All UK businesses are eligible. How to access the scheme This is an automatic offer with no applications required. Businesses will not need to make a […]

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COVID-19 GRANTS AVAILABLE TO SMALL BUSINESSES

Businesses in the retail, hospitality and leisure sectors with rate able values between £15,000 and £51,000 will receive a cash grant of up to £25,000.  In other words, you will not pay any business rates in 2020-21 and you will be eligible for a grant of up to £25,000. All businesses in receipt of small business rates […]

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COVID-19: Update – 23/03/2020

COVID-19: Support For Businesses As we all know that the Chancellor had set out a package to support businesses & individuals through this crisis. This includes a package of measures to support businesses including: Job Retention Scheme deferring VAT and Income Tax payments Statutory Sick Pay relief package for small and medium sized businesses (SMEs) […]

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COVID-19 General Information – Beware of Scammers

Sophisticated scammers are attempting to trap innocent people. Several companies are claiming to help businesses to get money from Government speedily in relation to COVID-19. Be vigilant, there is no quick or slow way of obtaining any relief. Government is yet to establish a method for employers to be paid the money against furloughed workers. […]

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Accountants in London - Sole Trader Vs Limited Company

Accountants in London – Sole Trader Vs Limited Company

There is a significant difference between running business accountants in London as a sole trader or as a limited company. Many people may not know it or do not understand it properly. Here in this blog, we will evaluate those differences. Let’s have a look.  Accounting and Tax Return Policies         Sole […]

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Used vehicle accounting scheme

Capital Allowance for Used vehicle accounting scheme and Assets in the UK

The basic definition of the term is that a Capital Allowance is an amount on which you claim tax relief for the wear & tear of the fixed assets. Nearly all of the business who have some kind of assets in the company can claim for this.  Items that can get you Capital Allowance You […]

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Overview of Making Tax Digital for Tax Returns and VAT

Overview of Making Tax Digital for Tax Returns and VAT

Making Tax Digital (MTD) is an initiative of the UK government that it took in 2015. It characterizes transformation to the way in which taxpayers record their financial transactions and submit their tax returns online. According to HM Revenue and Customs (HMRC), MTD is intended to make management easier, effective, and efficient for all taxpayers […]

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working from home

Working from Home

Overseeing office work from home is very beneficial and with the passage of time, many entrepreneurs are realizing this importance. Although it becomes quite hard to sustain a wall between your professional and personal life, you will get it when working in an extra room, a house, or maybe a building will not cost you […]

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