The domestic VAT reverse charge applies to sales of construction work from 1 March 2021. The VAT reverse charge for the construction industry is effectively an extension of the CIS. It applies only to transactions between VAT registered contractors and sub-contractors who are registered for CIS. The scheme means that those supplying construction services to…
The Coronavirus Job Retention Scheme (CJRS) has been extended for a month. Employers small or large, charitable or non-profit, are eligible for the extended Job Retention Scheme, which will now continue for a further month. Businesses will have the flexibility to bring furloughed workers back to work on a part time basis or furlough…
The furlough scheme is coming to an end this month. Here is what you need to know about the Job Support Scheme, which will start on the 1st of November 2020 and run for 6 months. What is it? The job support scheme has been put in place to help protect viable…
Tech-savvy Cornish accountancy firm Bickerstaff & Co show no sign of letting a global pandemic slow them down, as they celebrate another big achievement in 2020. After relocating to a larger office in Hayle after lockdown, they’re now welcoming ACCA-qualified Kelly Ovett to the team, who brings with her over 24 years accountancy experience. The…
Some quite interesting announcements in today’s summer statement from Chancellor Rishi Sunak, mainly aimed at keeping unemployment down and supporting tourism and leisure; Hospitality; Six month VAT cut for restaurants, hotels and attractions from 20% to 5% from 13th July to 12 January 2021. This will include food and non-alcoholic drinks in restaurants, pubs and…
Now that the country is in lock down, many of us have stopped trading and are bracing ourselves for a huge drop in income and a massive dent in our cash flow. Now is probably a good time for you to take stock of where your business is currently, and what you can start doing…
The Coronavirus Job Retention Scheme will be a government grant – to reimburse employers for 80% of furloughed workers wage costs, to a cap of £2,500 per month. All UK businesses are eligible, small or large, charitable or non profit will be eligible to claim on the scheme. The latest guidance says that employers can…
We have set out below the measures that have been put into place by the Government on the 20th March to help Employers and Businesses cope with the Corona Virus. If you are worried about anything then please do not hesitate to contact us for help or support. The Chancellor has set out…
With the rapidly changing nature of the COVID-19 outbreak, information and advice from Government can change quickly. For all the latest Government information on COVID-19 and the measures the Government, are taking, please use the following links; UK Government guidance NHS – condition overview World Health Organisation – advice for the public Steps we have…
Budget Day 2020 started off with interest rate cuts announced by the Bank of England in order to support the economy amid the Cornonavirus outbreak. Interest rates have been cut from 0.75 to 0.25% taking borrowing costs back down to the lowest level in history. There were further announcements made about the support that the…