Category Archives: Tax

Corona Virus Business Support Update

There have been a number of announcements and changes made recently to Government support for businesses.  Up to date details of the support available to Northern Ireland Businesses can be accessed on the NI Business Info Website on the following link https://www.nibusinessinfo.co.uk/business-support/coronavirus The following Support is available: Large NAV Business Grant - The Large NAV…
Read more

THE NEW VAT RULES FOR CONSTRUCTION SECTOR START ON 1 MARCH 2021

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

Coronavirus Job Retention Scheme – Frequently Asked Questions

Under the Coronavirus Job Retention Scheme, all UK employers with a PAYE scheme will be able to access support to continue paying part of their employees’ salary for those that would otherwise have been laid off during this crisis. This applies to employees who have been asked to stop working, but who are being kept…
Read more

Updated Guidance on Coronavirus Job Retention Scheme

The government issued updated and more detailed guidance on the Coronavirus Job Retention Scheme on 4 April 2020. The full guidance can be accessed here https://www.gov.uk/guidance/claim-for-wage-costs-through-the-coronavirus-job-retention-scheme Some of the important clarification relate to the following: Office Holders and Company Directors 'As office holders, salaried company directors are eligible to be furloughed and receive support through this…
Read more