New grant funding scheme announced to help SMEs trade overseas
Oct 22, 2020
Up to £38 million in grant funding has been made available for small and medium-sized enterprises (SMEs) seeking to trade overseas, it has been announced. The initiative forms part of a package of new measures designed to ...
READ MOREFrom in-store to online: the rise of start-ups during the coronavirus pandemic
Oct 19, 2020
According to the Office for National Statistics (ONS), the number of new business start-ups has increased by 5 per cent during the third quarter of this year, compared to the same period in 2019. Despite expectations that the creation of new ...
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ICAEW “questions” pension tax relief proposals
Oct 15, 2020
The Institute of Chartered Accountants in England and Wales (ICAEW) has raised concerns over proposals to alter the level of tax relief on pensions contributions for low-earners, arguing that any changes could burden businesses. The report comes after HM Treasury published ...
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Brexit: Just 13 per cent of businesses feel prepared for the UK to leave the EU
Oct 13, 2020
According to the latest research, one in eight businesses feel prepared for the UK to leave the European Union (EU) after the transition period comes to an end in December. Alok Sharma, Secretary of State for Business, Energy and Industrial Strategy ...
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Chancellor expands Job Support Scheme and grants to businesses facing new COVID-19 restrictions
Oct 12, 2020
The Chancellor has announced that the Government will expand the new Job Support Scheme (JSS) to assist jobs and businesses required to close their doors as a result of tougher Coronavirus restrictions. The announcement was made ahead of new plans to ...
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UK Export Finance scheme extended to more than 100 overseas territories
Oct 08, 2020
The Government’s UK Export Finance (UKEF) scheme has now been extended to support international trade in more than 100 countries, it has been announced. The changes come ahead of the end of the Brexit transitional period on 31 December 2020, after ...
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Self-Assessment: HMRC announces new ‘enhanced payment plans’ for self-employed
Oct 06, 2020
From 1 October 2020, individuals who complete Self-Assessment tax returns will now be able to divide their tax bill into monthly instalments, without speaking to an HM Revenue and Customs (HMRC) adviser first. On 24 September 2020, the Chancellor announced that ...
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Government issues new guidance on the Job Retention Bonus
Oct 05, 2020
Employers will be able to apply for the Job Retention Bonus (JRB) between 15 February 2021 and 31 March 2021. This one one-off taxable payment to employers offers £1,000 for each eligible employee that was furloughed and kept continuously employed until ...
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Time to Pay threshold increased to £30,000
Oct 02, 2020
From this week, Self Assessment customers affected by Covid-19 can apply online to spread the cost of their tax bill into affordable monthly payments. The amount of tax liabilities which can be spread out has also been increased from £10,000 to ...
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SMEs are still chasing unpaid invoices
Sep 28, 2020
The disruption of business, due to the coronavirus pandemic, has meant many companies are still waiting on unpaid invoices from their debtors. According to a Freedom of Information request to the Small Business Commissioner (SBC), submitted by the UK Domain, there ...
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