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…
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Coronavirus Business Interruption Loan Scheme Open
The Coronavirus Business Interruption Loan Scheme is now open, the links below, set out the qualifying criteria and application process, as provided by the British Business Bank. We will be happy to help our clients with the application process in any way we can, please contact your Client Manager or Client Partner for more advice.…
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Important VAT Deferral Update – Cancel your DD
Deferred VAT payments - important As you are aware HMRC deferred VAT payments for a 3 month period until 30th June 2020. Although this is an automatic offer with no application required, HMRC published the following advice in relation to this: Customers who normally pay by direct debit should cancel their direct debit with their bank…
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Is your home a tax-free zone?
In most cases, if you have lived in your home during the entire period of your ownership of a property, then when you sell that property you should pay no capital gains tax (CGT) on any profit you make on the sale. You can claim the Private Residence Relief (PRR) to exempt any profits made.…
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