1 APRIL 2020 The government plans to introduce emergency changes to overhaul insolvency laws and give “breathing space” to companies hit by the coronavirus crisis, Alok Sharma, the business secretary has announced, in a move to help prevent mass failures. Laws that make it illegal for a business to trade when it is insolvent are […]
25 MARCH 2020 The Government is introducing a business rates holiday for retail, hospitality and leisure businesses in England for the 2020 to 2021 tax year. Businesses that received the retail discount in the 2019 to 2020 tax year will be rebilled by their local authority as soon as possible. You are eligible for the […]
Further details are now available on the Coronavirus Job Retention Scheme. Furlough Scheme 6 April 2020
HM Treasury has announced the Chancellor Rishi Sunak is taking further action to support firms affected by the coronavirus crisis by bolstering business interruption loans for small businesses and announcing a new scheme for larger companies. The Chancellor states: £90 million of business interruption loans approved for nearly 1,000 firms and £1.9 billion corporate finance […]
Bryden Johnson were delighted to be able to take part in the second Croydon Business Webinar, organised yesterday by White Label Creative. A group of panelists, including Jackie Wilding, discussed the financial support available to businesses and employees during the COVID-19 crisis. Next week’s webinar will focus on commercial space security and can be booked […]
The Government announced the deferral of VAT payments for 3 months from 20 March 2020 until 30 June 2020. All VAT registered traders are eligible. This will generally mean the deferral of one quarter’s VAT, the payments due on 7 April, 7 May or 7 June 2020 or the monthly payments due on each of these […]
The new rules for workers providing their services through personal service companies that were due to start from 6 April 2020 have been delayed by a year. This would have represented a significant additional administrative burden on large and medium-sized businesses and would have resulted in more income tax and national insurance being deducted from […]
Chancellor Rishi Sunak has announced measures to support the self-employed and partnerships. The scheme is called the Coronavirus Self-employment Income Support Scheme (CSEISS). If you have suffered a loss in income, a taxable grant will be paid to the self-employed or partnerships, worth 80% of profits up to a cap of £2,500 per month. Initially, […]
From today 25 March 2020 businesses will be able to apply for a 3-month extension for filing their accounts. This joint initiative between the government and Companies House will mean businesses can prioritise managing the impact of Coronavirus. As part of the agreed measures, while companies will still have to apply for the 3-month extension […]
For VAT, the deferral will apply from 20 March 2020 until 30 June 2020. All UK businesses are eligible. How to access the scheme This is an automatic offer with no applications required. Businesses will not need to make a VAT payment during this period. Taxpayers will be given until the end of the 2020 […]
