
In recent weeks, HMRC has issued a number of updates to the COVID-19 VAT payment deferral scheme. Read More
In recent weeks, HMRC has issued a number of updates to the COVID-19 VAT payment deferral scheme. Read More
Under the Finance Act 2020, HMRC regains its status as a preferential creditor for insolvencies that commence on or after 1 December 2020. The preferential status is for certain taxes due from an insolvent business, to include VAT, PAYE, Employees NIC, and CIS deductions – and will be paid secondary after the primary preferential creditors for wages and unpaid holiday pay. HMRC will remain an unsecured creditor for direct taxes such as Corporation Tax and Employer NICs. Read More
If you were unable to apply for the current Self-Employed Support Scheme, the Minister for the Economy has announced a support scheme for those have recently become self-employed (sole traders and those in partnerships) who have been adversely impacted by Covid-19. The NSESS has been administered by Invest Northern Ireland on behalf of the Department for the Economy.
Self-employed traders risk missing out on any further government grant funding from the Self-Employed Income Support Scheme (SEISS) if they do not act immediately! It is imperative that the self-employed act swiftly and respond to any emails issued by HMRC about their business by 20 November 2020 or they may become ineligible for further SEISS assistance.
The idea of a business world without the restrictions of Covid-19 may seem like a far-off dream for many, but with the recent vaccine breakthrough we might expect to be back to some sort of normality by Summer 2021. Business owners will know very well that we aren’t out of the woods yet, and the thought of kick-starting a business after the shattering effects of Covid seems almost as daunting as the current challenge of keeping ourselves afloat.
Ross and the team at RB+ are delighted to announce that they have been helping clients with a range of positive business advice, accounting and assurance services for ten years. Only one third of businesses make this milestone so we are really pleased that great clients continue to value our services and others want to join the business.