COVID support grants that are taxable
We would like to remind readers that existing legislation is in place to ensure that COVID support grants are treated as taxable income in the same way as other taxable receipts.
Recovery Loan Scheme
The new Recovery Loan Scheme was launched on 6 April 2021. The new scheme allows businesses of any size to access loans and other kinds of finance between £25,000 and £10 million.
Treasury directive re fourth SEISS grant
HM Treasury has published a further Treasury Direction made under the Coronavirus Act 2020, ss. 71 and 76, which modifies and extends the effect of the Self-Employment Income
Vaccine for your business
There is a poignant similarity between the effects of COVID on us personally and our businesses.
Thankfully, the possible dire consequences of catching the Coronavirus bug are
A reminder that not all costs are costs…
Costs are defined as something that has to be paid or spent to acquire something. Costs include the acquisition of:
An object, say material required to convert into saleable
Repaying overclaimed SEISS grants
Self-employed individuals (including partnerships) who have overclaimed the Self Employed Income Support Scheme (SEISS) must pay back the overpayment to HMRC. The rules for
New support for High Streets and sea-side towns
As lockdown measures begin to be eased, a new package of support measures to help high streets and coastal areas across England has been announced by the Communities Secretary
£1.5bn boost for rates relief
A new Business Rates relief fund will provide a £1.5 billion tranche of support to businesses outside the retail, hospitality, and leisure sectors affected by COVID-19.
Retail,
Film and TV restart scheme
The government’s £500 million scheme to kickstart film and television production entitled the Film and TV Production Restart Scheme, helps UK film and TV productions struggling to
Have you claimed too much from furlough scheme?
HMRC’s guidance makes it clear that any business that makes an error in making a Coronavirus Job Retention Scheme (CJRS) claim must pay back any amount overclaimed. Any claims