Many businesses across the UK are likely to make losses in the 2020-21 tax year due to the havoc resulting from COVID disruption. Which was why the announcement in the recent Budget that losses can be carried back for an extended period was most welcome. The policy objective aims to provide a cashflow benefit to […]
Monthly Archives: April 2021
The government has confirmed its intention that furloughed employees will be paid 80% of their wages for hours not worked under the furlough scheme. Up to 30 June 2021, this payment will be fully-funded by government and capped at £2,500 per month. From 1 July 2021, employers are required to contribute 10% of the 80% […]
Since 15 March 2021, smaller businesses can apply for grants of up to £2,000 to help them adapt to new customs and tax rules when trading with the EU. The £20 million SME Brexit Support Fund enables traders to access practical support, including training for new customs, rules of origin and VAT processes. Small and […]
Perhaps the most innovative give-away in the recent budget was “Super-deductions for investment expenditure”. What does this mean? Companies that invest in qualifying plant and machinery in the period from 1 April 2021 to 31 March 2023 will benefit from enhanced capital allowances. Investments in assets that qualify for the main rate of capital allowances […]
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