Events company collapse
A recent investigation by the Insolvency Service has seen a husband and wife disqualified from being directors for a total of 17 years. The husband and wife team were directors of a company that provided conference and event organisation services across the UK.
The male director had resigned as a
Unravelling the jargon: what is a support bubble?
The following notes are copied from the GOV.UK website. At first glance, it would appear that the definition of a support bubble should be fairly easy to grasp. Don’t hold your breath.
Basically, a support bubble is a close support network between a household with only one adult in the home (known
Handling food? Wash, those hands
If you are considering any change to your business activities that will involve handling any packaged food or raw ingredients, as you would expect, there are a raft of regulations that you will need to consider and adopt.
The Department of the Environment has published considerable guidance on the
Tax Diary November/December 2020
1 November 2020 – Due date for Corporation Tax due for the year ended 31 January 2020.
19 November 2020 – PAYE and NIC deductions due for month ended 5 November 2020. (If you pay your tax electronically the due date is 22 November 2020.)
19 November 2020 – Filing deadline for the CIS300 monthly
New cashback scheme proposed
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 have been put in place to help protect the UK’s cash system following a steady decline in the use
Closing a limited company
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 This could be because a limited company structure no longer suits your needs, your business is no longer active, or the company is insolvent. You will usually need the agreement of all the company’s directors and
Brexit countdown importers
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 formally accepted this position. This means that the process for importing goods from the EU will change
Brexit countdown exporters
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 that from 1 January 2021, businesses will need to make customs declarations when exporting goods to
Clock ticking on the Annual Investment Allowance
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 £200,000 per annum but was temporarily increased to £1 million for a 2-year period from 1 January 2019
Distributions in anticipation of striking off rules
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 an efficient manner. ESC C16 was withdrawn in March 2012 and replaced by s1030A Corporation Tax Act