On The Spot Blogs

Budget 2021 - Help To ReGroup & Grow

Today we've had a whistle-stop tour of initiatives which the government hopes will encourage growth. From saving existing skills with furlough and SEISS scheme extensions, a new super tax deduction on equipment, through to funding high quality training schemes (if you have at least 5 employees). 

Here are the main headlines of interest to small and growing businesses...

 

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Coronavirus Grants 2.0 - Finding Your Exit - Small Businesses

Two and half months after his first announcement on government help for businesses, on Friday the Chancellor amended and extended the self employed (SEISS) and employee (CJRS) grant schemes to reflect the anticipated gradual exit from the Coronavirus lockdown.

 

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Coronavirus - Limited Companies - What Are Your Choices?


Now we've probably heard all the major Coronavirus announcements from the Chancellor, what choices do Director-Shareholder Limited Companies have to help them through this crisis? We provide a checklist below with signposting to the relevant part of gov.uk.

Time To Pay

Applicable to all companies and all taxes, you can call HMRC and agree a scheduled delay to paying your taxes. Have a realistic proposal that you can stick to. Signpost: https://www.gov.uk/government/news/tax-helpline-to-support-businesses-affected-by-coronavirus-covid-19

Time To File

Companies house will allow you to send in your accounts 3 months later than normal, a increase from the usual 9 months to 12 months, as long as you ask before the 9 month deadline.

 

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New Year's Resolution? - Make Tax Understandable

Dear HMRC 

As the sun rises on a new decade, let's try to achieve real tax simplification during the next 10 years. Here are a few ideas to help make tax understandable for the public:

 

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