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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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Kickstart Scheme: the changes from 3 February 2021
Feb 02, 2021
According to a report by the Department for Work and Pensions (DWP), the Kickstart Scheme has supported over 120,000 young people find employment, since its launch in September 2020. The Government created the scheme to help 16-to-24-year-olds find work by providing ...
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Voluntary and compulsory strike off processes paused in response to national lockdown
Jan 29, 2021
Companies House will pause both the voluntary and compulsory strike off processes for one month to support businesses affected by Covid-19, it has been announced. The extended measure comes in response to delays to the system caused ...
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EU exports halt as UK firms encounter extra charges
Jan 25, 2021
Due to the new trade rules that came into effect on 1 January 2021, many UK businesses, who export to the EU, have been hit by extra charges, taxes and paperwork. Some have stopped exports to the EU as a ...
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IR35: Businesses are still not prepared for off-payroll working rules
Jan 18, 2021
According to a recent study, many UK firms are not adequately prepared for the off-payroll tax rule changes for the private sector to start in April 2021. The survey, which had 3,300 contractors as respondents, revealed that 52 per cent of ...
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Self Assessment: thousands spread tax liabilities in response to coronavirus disruption
Jan 14, 2021
Thousands of self-employed workers have taken advantage of the Government’s extended Time to Pay scheme ahead of the 31 January Self Assessment deadline, a new report has revealed. HM Revenue & Customs (HMRC) said around 25,000 taxpayers have now registered to ...
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