Latest Blogs
4th June 2020
Charity Commission: Reporting on matters of material significance
The Charity Commission released updated guidelines in April 2020 for auditors and independent examiners. This was based around the statutory duty to report to the charity regulators in the UK on matters of material significance. The three main changes in this updated guidance are as follows: confirmation that difficulties in carrying out an audit…
1st June 2020
HMRC Furlough Claim Update 29th May 2020
From 1st July, whilst still appreciating the benefits of the Furlough Scheme, employers will be able to benefit from the option of bringing employees back to work on a part time basis. This is one month earlier than had previously been announced. Whilst working, employers will be required to pay their employees at their…
22nd May 2020
Dividend update
It is common practice for director/shareholders to be paid a modest salary through PAYE and pay the balance of their remuneration in dividends. This of course is perfectly permissible if the company has profits available to distribute to shareholders and there is no breach of directors’ duty. Unfortunately, the dramatic effect that the Coronavirus is…
19th May 2020
Covid-19 –Statutory Sick Pay Rebate Scheme
The Government have announced that the Statutory Sick Pay Rebate Scheme, which will enable employers with fewer than 250 employees to claim Coronavirus-related Statutory Sick Pay will launch online on 26 May 2020. Employers are eligible to use the scheme if: they’re claiming for an employee who’s eligible for sick pay due to…
19th May 2020
Company cars and fuel during COVID-19
If you are an employee with a company car, and maybe fuel provided, it is worthwhile considering giving up the car, or fuel, during the current pandemic if you are working from home or furloughed. A company car benefit in kind (BIK) is a set amount based on the list price and emissions regardless…
18th May 2020
Covid-19: Companies House dissolutions now put on hold
Like many Government departments, Companies House have relaxed various compliance requirements to support businesses to get through this Covid-19 period. In their latest announcement, they are making the following temporary changes to their strike off policies: Voluntary (Form DS01 submitted) Strike Off Applications – Process halted after notice published in London Gazette. Automatic Dissolutions…
7th May 2020
COVID-19 – Temporary Zero Rating of Personal Protective Equipment
HMRC have announced temporary zero rating of personal protective equipment (PPE) recommended for use by Public Health England. This is good news for care homes and others that are incurring significant additional costs on purchasing PPE at the moment but are unable to reclaim VAT. The zero-rating is effect for supplies made between 1 May…
6th May 2020
Temporary changes to pension processes as a result of Coronavirus (COVID-19) relating to loan payment and rent holidays
Although some sectors of agriculture are weathering the coronavirus storm quite well for others there are serious issues. For those whose cash-flow has been particularly impacted and who have loans or rent, land or buildings from SSAS or SIPP pension schemes a recent announcement from HM Revenue & Customs may offer some help:- HMRC…
6th May 2020
Local Business Grants Scheme additional funds announced
On Saturday, the Government announced a top up to the local business grants scheme fund. While details are currently scarce, the scheme is aimed to help businesses that did not qualify for a grant under existing grant schemes. The fund can be distributed at the discretion of local authorities, but will be aimed at…
6th May 2020
Bounce Back Loan not available from your bank?
Business Bounce Back Loans are currently only being provided by the 9 main banks. In addition, most of these banks are currently only making these loans available to their existing customers. However, HSBC are accepting online applications from non-customers on their website. For a the up to date list of lenders visit…