News

Introducing our round-up of breaking news, announcements, updates and the latest UK financial and economic developments. Happy browsing!

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£50m extra funding for Customs Intermediary Grant Scheme

04/08/2020

Over the past few months, HMRC has unveiled a package of measures to accelerate the growth of the UK's customs intermediary sector. These announcements included £50 million of new funding to support businesses with recruitment, training and

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£20m in new grants for small businesses

04/08/2020

£20 million worth of new government grants have been released to help small and medium sized businesses across England recover from the effects of the Coronavirus pandemic. These grants will provide businesses between £1,000 and

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Advice for early years sector

04/08/2020

The Competition and Markets Authority (CMA) launched a COVID-19 taskforce back in March 2020 to identify any commercial practices that adversely affect consumers and to consider appropriate responses to help businesses comply with the law and protect

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Renewing your MOT

04/08/2020

Vehicle owners with a MOT expiry date between 30 March 2020 and 31 July 2020 were given a 6 month extension. This measure was designed to help motorists as the Coronavirus pandemic began to take hold. Mandatory MOT tests for car, motorcycle and van

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Government u-turn on lockdown changes

04/08/2020

Lockdown changes - in England - that were due to come into effect on 1 August 2020, have been delayed until at least 15 August. The last-minute announcement by the Prime Minister, Boris Johnson, followed worries of a rise in COVID cases and means

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State Aid rules relaxed for CBILS loans

04/08/2020

The government has announced that more small businesses will benefit from the Coronavirus Business Interruption Loan Scheme (CBILS). Under the scheme, borrowers can apply for up to £5 million in finance in the form of loans, overdrafts, invoice

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Intellectual Property Office service update

04/08/2020

The Intellectual Property Office (IPO) has ended its 'interrupted days' provisions and is now working to its usual deadlines. The IPO introduced extended deadlines, known as interrupted days, on 24 March 2020 as a result of the Coronavirus

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More support for film and other creative industries

04/08/2020

A new £500 million scheme to kickstart film and television production struggling to secure insurance for COVID-related costs has been launched. This scheme will help TV and film productions that have been halted or delayed by a lack of

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Breaking even

04/08/2020

There are businesses that have benefitted from the current COVID disruption. Particularly, those that can deliver goods and services online. There are far more that have not benefitted. Before COVID-19 reared its disruptive head businesses were

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Beyond furlough

02/08/2020

Unless the Chancellor comes up with replacement funding for the furlough scheme, and there is no sign that this will happen, those businesses that have maintained their workforce by furloughing staff will face difficult choices when the present

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New redundancy protections for furloughed employees

29/07/2020

The government has unveiled an important new law that will protect furloughed workers who are made redundant. This will ensure that any employee who was furloughed under the Coronavirus Job Retention Scheme (CJRS) will receive their full basic

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How elastic is demand for your products?

28/07/2020

Many will remember the empty shelves in supermarkets when lock-down commenced March 2020. In particular, the absence of toilet rolls… Compare this with supplies of TVs and other luxury goods where there was no noticeable absence of

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£50 bike repair voucher scheme launched

28/07/2020

The government has launched a new scheme - open to anyone in England - with a bike in need of repair. The Fix your Bike Voucher Scheme is a new initiative that has been championed by the Prime Minister, Boris Johnson, to help fix old bikes by

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Business rates review

27/07/2020

The government has confirmed that the next business rates revaluation in England will be postponed until April 2023. The government has previously announced that the revaluation that was due in 2021 would be delayed due to the coronavirus pandemic

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Beware £5,000 company fine

27/07/2020

As well as filing accounts with Companies House, there is an important requirement to check that the information Companies House has about your company is correct every year. This is facilitated by the filing of an annual company confirmation

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Customs declarations for exporters of goods from 1 January 2021

27/07/2020

The Brexit transition period is due to end 31 December 2020. The UK and EU have agreed there will not be any further extensions, although with the COVID-19 outbreak nothing appears certain. As things currently stand, no formal trade deal has been

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Are you due a tax refund?

27/07/2020

HMRC’s annual reconciliation of PAYE for the tax year 2019-20 is well under way. HMRC uses salary and pension information to calculate if you have paid the correct amount of tax. The calculation is usually generated automatically by

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New measures to tackle promotion of tax avoidance

27/07/2020

HMRC has published a series of a consultations together with details of proposed legislative changes to existing anti-avoidance regimes to strengthen HMRC’s ability to further clamp down on the market for tax avoidance. The proposals

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