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New financial support measures announced
- October 22, 2020
- Posted by: mardenco
- Category: Business Support
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The Chancellor, Rishi Sunak, has delivered his third major statement to the House of Commons in less than a month. This followed the Winter Economy Plan on 24 September and further announcements on 9
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When you can or can’t use the VAT Cash Accounting Scheme
- October 22, 2020
- Posted by: mardenco
- Category: Value Added Tax
Under standard VAT accounting, VAT is payable on sales whether or not the customer has paid and can lead to a claim for Bad Debt Relief. Under the Cash Accounting Scheme, VAT does not need to be paid
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Starting rate of Income Tax for savings
- October 22, 2020
- Posted by: mardenco
- Category: Income Tax
In the current tax year, anyone with taxable income of less than £17,500 will have no tax to pay on their savings income – interest received. This figure is calculated by adding the £5,000 starting
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Distributions in anticipation of striking off rules
- October 22, 2020
- Posted by: mardenco
- Category: HMRC notices
The Extra Statutory Concession (ESC) – C16 was a well-used extra-statutory concession that allowed company directors to treat final distributions as a capital disposal and close down their business in
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Clock ticking on the Annual Investment Allowance
- October 22, 2020
- Posted by: mardenco
- Category: Capital allowances
The Annual Investment Allowance (AIA) allows for a 100% tax deduction on qualifying expenditure on plant and machinery to be deducted from your profits before tax. The relief is normally capped at
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Brexit countdown exporters
- October 22, 2020
- Posted by: mardenco
- Category: HMRC notices
The Brexit transition period is due to end on 31 December 2020 and this means that the process for exporting goods to the EU will change from 1 January 2021.
Current guidance published by HMRC states
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Brexit countdown importers
- October 22, 2020
- Posted by: mardenco
- Category: HMRC notices
As we have reported previously, the UK government has confirmed that it will neither accept nor seek any extension to the Brexit transition period which expires on 31 December 2020. The EU has
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Closing a limited company
- October 22, 2020
- Posted by: mardenco
- Category: Corporate Governance & Regulation
There are a number of reasons why you may decide to close your limited company. This could be because a limited company structure no longer suits your needs, your business is no longer active, or the
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New cashback scheme proposed
- October 22, 2020
- Posted by: mardenco
- Category: General
The government has announced plans to allow customers to get cashback from shops without needing to make a purchase. At the moment, cashback is only available to those who buy goods. The new proposals
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Gaming behind the wheel?
- October 20, 2020
- Posted by: mardenco
- Category: Business Support
Unbelievably, it has been illegal to make phone calls or text while driving a car, but not illegal to play games or take photos.
Clearly, this loophole is begging to be closed and new legislation