Accounting, Business and Tax News Stories and Updates

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03-04-2020
Changes announced to Coronavirus Business Interruption Loan Scheme (CBILS)
Many small businesses that have applied for a government backed CBILS loan thus far have been offered standard overdrafts and loans – without the Government's 80% guarantee – on the Read more..

01-04-2020
Tax Diary April/May 2020
1 April 2020 - Due date for Corporation Tax due for the year ended 30 June 2019. 19 April 2020 - PAYE and NIC deductions due for month ended 5 April 2020. (If you pay your tax electronically the due Read more..

01-04-2020
Directors – between a rock and a hard place
Directors that have drawn remuneration from their companies as a mix of low salary and higher dividends would seem to be overlooked by the schemes announced in the past two weeks to support the Read more..

01-04-2020
Coronavirus tax payment helpline
The phone number for the COVID-19 helpline launched earlier this month has been changed to 0800 024 1222. Calls to the previously published number will be redirected. The launch of the new number will Read more..

01-04-2020
Working Tax Credits increased for one year
As part of the package of measures to tackle the Coronavirus outbreak, the government has announced that the basic element Working Tax Credit payments will be increased from an expected £1,995 Read more..

01-04-2020
Relaxation of phone contracts during COVID-19 outbreak
An interesting joint statement from the Government, Ofcom and the telecommunications industry has been published to help offer support to vulnerable consumers and those who may become vulnerable due Read more..

01-04-2020
Further details on Coronavirus Job Retention Scheme
HMRC has published further details on how the new Coronavirus Job Retention Scheme will work in practice. It had already been announced that the new scheme will see the government cover up to 80% of Read more..

01-04-2020
Coronavirus – relaxation of insolvency rules
New insolvency measures have been announced to help prevent businesses unable to meet debts, due to the impact of Coronavirus, to continue trading and not be forced to file for bankruptcy. The Read more..

01-04-2020
Coronavirus deferral of VAT payments
In another move to help businesses the government announced that VAT registered businesses can defer any VAT payments due between 20 March 2020 and 30 June 2020. There is no application process Read more..

01-04-2020
Contactless payment limit increased
The spending limit for contactless card payments has been increased from £30 to £45 effective 1 April 2020. The change in the limit had been under consideration and has now been expedited Read more..