Rishi Sunak delivers his budget on Wednesday 3 March. He has a serious problem to deal with, how to pay for the biggest government borrowing binge since the Second World War, without damaging the country's economic recovery from the Coronavirus Pandemic? There has been a lot of speculation around possible tax hikes, with Corporation Tax…Read more
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INTRODUCTION New VAT rules are due to come into effect this March which will impact on accounting for VAT for transactions in the construction sector. The new rules are called “the domestic reverse charge for supplies of building and construction services”. The new “reverse charge” system of VAT accounting will affect sub- contractors supplying their…Read more
For anyone based in Northern Ireland who began Self Employment during the 2019/20 Tax Year and has suffered a 40% reduction in profits, as a result of the Coronavirus Pandemic, a support grant remains available, however the closing date for applications is 6.00pm on 7th January 2021, so if you think you may be eligible…Read more
The Minister for the Economy has launched the Newly Self-Employed Support Scheme, designed to provide support to newly self-employed individuals (sole traders and those in partnerships) who have been adversely impacted by COVID-19. Full details, together with a link to apply for the scheme can be found here https://www.nibusinessinfo.co.uk/content/newly-self-employed-support-schemeRead more
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