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On 17th December the government announced a further extension to the Coronavirus Business Interruption Scheme loans (CBILS) – meaning that businesses now have until 31st March 2021 (previously 31st January) to apply.   This welcome announcement means that more businesses will be able to enter the loan scheme, benefitting from the needed funds during these…

As 1-Jan-21 draws ever nearer what changes should your SME business prepare to adopt ready for Brexit: Exporting Goods to the EU  Despatches are renamed exports. Apply for an EORI number (which will look something like: GB123456789123). Check whether what you sell is a restricted good that requires an export licence. Check whether there are…

Whitings Farming Group publish their half yearly commentary on what’s topical in the agriculture sector: Click Here (for edition 17) Blog Entry by: James Cater

From 1 April 2021, HMRC are to introduce a limit on the amount of payable tax credits which can be claimed by a loss-making company. The refund will be restricted to £20,000 plus 300% of its PAYE and NIC liability for the period. Where the accounting year straddles 1 April 2021, the company will be…

As a response to COVID-19, earlier this year the Government announced a temporary extension to the filing deadline of certain documents that are filed at Companies House. Private companies whose annual accounts filing deadline fell between 27 June 2020 and 5 April 2021 were given an additional three months to prepare and file their accounts.…

In response to the continuing Coronavirus health emergency, the Government has extended the period during which the reduced rate of VAT will apply to the hospitality and tourism industries.  The reduced rate of VAT, which came into force on 15 July 2020, will continue to apply until 31 March 2021. As a result, VAT at…

The Government has announced the Coronavirus Job Retention Scheme will be extended until the end of April 2021. The Government has reviewed the terms of the scheme and confirmed that the claim will remain at the current level of 80% of an employee’s usual wage for the hours not worked up to a maximum of…

Following the publication of the Agriculture Act 2020 it is now clearer how subsidies to agriculture are going to change, with the first predominant feature being the running down of the Single Farm Payment regime. For farmers in parts of Norfolk and Suffolk there is opportunity to tender to participate in a £320,000 project to…

Whether a trade deal has been reached or not, the UK will leave the EU’s Single Market on the 31st December 2020. In order to reduce the impact of changes SMEs are faced with, there are a few key areas that need to be considered:   Engage with your suppliers Make sure you define customs…

UK businesses can only use the EU VAT Refund System until  11 pm on 31 March 2021.  This means that claims for a refund of VAT incurred in other EU Member States for the year ended 31 December 2020 must be submitted by then.  Prior to Brexit the deadline was 30 September following the end…