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What are the options if you took up the government’s offer to defer VAT payments between 20 March 2020 and 30 June 2020, and still need to pay?

Many members of the business community have been asking for a re-evaluation of business rates for some time now. The current system has been deemed unfair by many businesses and the need for reform has now been magnified by the economic disruption caused by the coronavirus (COVID-19) pandemic. We look at business rates and consider some of the options for a fairer, better solution to support businesses.

New rules concerning the tax and employment status of off-payroll workers will be introduced on 6 April 2021. The change applies to those off-payroll workers who provide personal services to clients in the private sector through an ‘intermediary’. Under the rules, commonly known as IR35, the responsibility for determining that status will pass to medium and large private sector organisations. 

Businesses and owners of commercial property planning major capital purchases, take note.

A few reminders for your diary through to April 2021.

Read our latest Coronavirus news update.

On 5 November 2020 the Chancellor, Rishi Sunak, announced changes to the package of support measures being introduced as a consequence of a second national lockdown for England. In the original package the Coronavirus Job Retention Scheme (CJRS) was extended until the planned lifting of the lockdown on 2 December. The Chancellor has now announced that the CJRS will be extended to the end of March.

Our Autumn Charity Newsletter includes the latest guidance on coping with the impact of COVID-19, promoting diversity and inclusion within the charity sector and how to report serious incidents to the Charity Regulators.

October is Black History Month and we, alongside the ICAEW, firmly support equality and diversity in the workplace. 

The government is planning to re-establish freeports in the UK as part of its plans to boost the country’s economy following Brexit. However, these Special Economic Zones have gained importance as part of the business recovery from the coronavirus (COVID-19) pandemic. They will have different customs rules to the rest of the country and the government wants them to become innovation hubs, attracting inward investment.

The Annual Investment Allowance (AIA) provides a tax write-off against profits for expenditure incurred on plant and machinery by businesses and owners of commercial property. 

Many businesses turned chameleon during Covid-19, changing core business to adapt. But whether you’re a florist making face masks or a farm shop starting home deliveries, what about tax?