One of the government’s schemes to assist VAT registered businesses with their cashflow during the current COVID disruption was the deferral of VAT payments. The VAT payments that could be deferred cover payments due between 20 March 2020 and 30 June 2020. VAT traders that have taken advantage of this support will have likely deferred…
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Leaving salaries or dividends in your company
Director/shareholders of small companies may be considering reducing their salaries and/or dividends during this uncertain period. Even if firms are managing to maintain profits or breakeven, prudence would suggest that until things improve we should do what ever we can to preserve cash reserves. Many directors have taken the sensible option to minimise their salaries…
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New support for High Street retailers
The High Street Task Force has launched a range of support options for High Street traders in England. In a press release issued 12 June it was announced: A package of support to help high streets to get back on their feet has been launched ahead of shops reopening from 15 June. The High…
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Changes to the Coronavirus Job Retention Scheme
The government published details of the changes to the Coronavirus Job Retention Scheme late on 12 June, it always seems to be a weekend! We've summarised the changes in this presentation, however, full details are available on this link https://www.gov.uk/government/publications/changes-to-the-coronavirus-job-retention-scheme/changes-to-the-coronavirus-job-retention-scheme .