MPs call for business rates cut in 2021 Budget
Mar 01, 2021
A total of 45 MPs in England are calling for Chancellor Rishi Sunak to cut business rates in England from 50 per cent of the market rent to 35 per cent in the 2021 Budget. They argue that cutting this tax ...
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Small businesses handed £7.8 billion through local authority grant schemes, figures reveal
Feb 25, 2021
More than £7.8 billion in grant funding has been delivered to small businesses through local authority grant schemes, it has been revealed. The research, published by the Department for Business, Energy & Industrial Strategy (BEIS), serves as a reminder of the ...
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Budget 2021: Hospitality businesses call for extended VAT cut
Feb 22, 2021
Due to the prolonged impact of coronavirus on the hospitality industry, firms within this sector urge Chancellor Rishi Sunak to extend the VAT reductions for a year in the Budget. In 2020, the VAT reduction went from 20 per cent to ...
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HMRC announces light touch approach to IR35 errors in first 12 months
Feb 18, 2021
Businesses will not be penalised for errors relating to IR35 in the first 12 months, it has been announced. The news comes just weeks ahead of the introduction of the new off-payroll working rules which could see some contractors taxed the ...
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Pub industry calls for reopening of the sector as sales halve
Feb 16, 2021
Prominent figures within the beer and pub industry are calling upon the Government to reopen pubs with non-essential shops when lockdown ends, as they are an indispensable contributor to the economy. Tim Martin, the Chairman of JD Wetherspoons, reveals that the ...
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One in five small businesses not entitled to financial support, FSB reveals
Feb 11, 2021
As many as one in five small businesses and sole traders are not entitled to financial support under the Government’s coronavirus support package, it has been revealed. The Federation for Small Businesses (FSB), who published the report, said up to three ...
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The VAT Deferral New Payment Scheme
Feb 11, 2021
Any business that deferred VAT payments due between 20 March and 30 June 2020 as a result of the Coronavirus pandemic, must now consider how they will repay this outstanding tax. They can choose from the following options in order to ...
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Online sales tax proposal for Autumn Budget
Feb 09, 2021
The UK Treasury is considering online sales tax for retailers such as Amazon, Asos and Ocado, after a drastic increase in online shopping and the current “uneven system”, has caused many in-store retailers to be at a disadvantage. Supermarkets, including Asda, ...
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COVID-19 Bounce Back Loan repayment period extended
Feb 08, 2021
The Government has announced changes to the Bounce Back Loan Scheme (BBLS) available to small businesses in the UK that will give companies longer to repay what they have borrowed. Around 1.4 million small and medium-sized businesses have taken out a ...
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Business owners put billions of pounds on the line to secure early CBILS loans, figures reveal
Feb 05, 2021
Business owners who took out an early coronavirus loan have more than £1.2 billion of personal guarantees on the line, a major study has revealed. The figures, published by The Times, highlight the number of enterprises that used personal guarantees to ...
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