Protecting your capital
Business owners in vulnerable sectors: predominantly retailers, leisure and entertainment trades, will have seen their hard-won capital all but exhausted by the needs to meet fixed costs when income generation has been restricted or eliminated by lock-down directives.
And this is in spite of the
New funding boost for young people
The government has announced a new £1,000 cash bonus to encourage employers to take on new trainees. The traineeship scheme supports young people to gain the skills and experience they need from the very start, helping them to get a job, an apprenticeship, or pursue further study.
The traineeship
New Treasury Directive re furlough scheme
An updated Treasury Direction under sections 71 and 76 of the Coronavirus Act 2020 concerning the extended Coronavirus Job Retention Scheme (CJRS) was published on 25 January 2021. The new direction formally extends the CJRS until 30 April 2021.
There were no changes to the amounts that employers
Landlords – year end planning tips
A few housekeeping tips for readers with buy to let or holiday let properties to think about and action – if applicable – before the end of the current financial year, 5 April 2021.
Buy-to-let
Have you experienced a drop in rental income since April 2020? If yes, make sure you let us have
Business owners – year end planning tips
A few housekeeping tips for readers with business interests; especially those with an upcoming financial year end at the end of March 2021.
Don’t forget to include any grants received to support COVID challenges in your accounts as income. These grants are taxable.
If you have furloughed staff
Landlords need to embrace a digital approach
HMRC are slowly rolling out their Making Tax Digital (MTD) scheme. Eventually, selected landlords submitting their rental income and outgoings via self-assessment will need to embrace this new MTD requirement.
What will it involve?
Self-employed landlords with property income above £10,000 will
Funding to get young people into work
Employers can now apply for a £1000 cash boost to help them take on new trainees.
The new scheme will support young people to gain the skills and experience they need from the very start, helping them to get a job, an apprenticeship, or pursue further study. The cash boost – which is available
Government tackles late payment to small firms
The Government has announced an overhaul of the Prompt Payment Code (PPC).
Under the new reforms, companies that have signed up to the PPC will be obliged to pay small businesses within 30 days – half the time outlined in the current Code.
Despite almost 3,000 companies signing the Code, poor
Rights to regenerate
We will soon have the rights to turn derelict buildings into homes and community assets. In a recent press release the Ministry of Housing said:
The public will be able to convert vacant plots of land and derelict buildings into new homes or community spaces, under plans announced 16 January 2021
CJRS guidance on who can be furloughed
HMRC’s guidance on which employees can be placed on furlough using the Coronavirus Job Retention Scheme has been updated. The scheme will continue until at least 30 April 2021.
The updated guidance includes new information about employees who are unable to work because they have caring