Package holiday companies have been instructed to respect the refund rights of holidaymakers ahead of the summer period. In a recent press release, this is what the Competition and Markets Authority (CMA) said: The CMA has published a further open letter to the sector and also sent it directly to the 100 package travel firms…
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Update on the Trade Credit Reinsurance scheme
The government and the Association of British Insurers (ABI) have announced that the temporary Trade Credit Reinsurance (TCR) scheme will close on 30 June as planned. TCR was designed as a temporary solution for companies struggling to get insurance cover for transactions because of the pandemic. It is now ending in the context of a…
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Company super-deductions and tax increases
One of the more innovative aspects of the recent March budget was the introduction of the rather grandly named super-deduction. Limited companies that invest in qualifying assets in the two-year period 1 April 2021 to 31 March 2023, will be eligible for a 130% tax write-off. What this means is that if you buy say…
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New tariff suspension scheme for the UK
To reduce costs for UK firms that import certain goods from abroad, the Department for International Trade (DIT) has announced a new tariff suspension scheme. The aim, according to a recent press release, is designed to make UK companies more competitive. The published details of the scheme are reproduced below: From next month, firms based…
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