CORONAVIRUS - TAX PAYMENTS - 04.06.2020
HMRC makes time to pay easier
Businesses and individuals struggling with tax bills can agree a repayment schedule with HMRC. This is often easier said than done but has recently been made simpler. What’s the full story?
CORONAVIRUS - DIRECTORS’ DUTIES - 28.04.2020
Wrongful trading rules relaxed
The government has temporarily suspended the wrongful trading rules to ease the pressure on businesses. What do you need to know?
CORONAVIRUS - VAT - 28.04.2020
HMRC makes VAT error correction easier
Error correction. There are different ways to deal with errors in VAT returns. Errors of up to £10,000 need not be notified to HMRC but expert advice is that you should do so regardless. HMRC requires notification to be in writing by letter or using its Form 652 . Because of coronavirus HMRC will accept Forms 652 sent to email@example.com . HMRC says the email address must only be used for error correction and it will not respond to communications about other matters. ...
CORONAVIRUS - PERSONNEL - 15.04.2020
Can directors take furlough leave?
Under the Coronavirus Job Retention Scheme, businesses may place eligible employees on furlough leave. Is this available to directors too and could you add your spouse, a partner or relative to the payroll so they can benefit from it?
CORONAVIRUS - BANKING - 15.04.2020
Contactless payment limit increase
Uplifted amount. Contactless debit and credit card payments have been around since 2007 and the transaction limit has increased slowly over the years. On 1 April 2020 this was raised to £45. The change had been under consideration prior to the coronavirus outbreak, but it was expedited when a pandemic was declared. ...
CORONAVIRUS - FRAUD - 15.04.2020
Watch out for the fraudsters
The last thing any business needs right now is to be hit by a malware attack or phishing scam. However, Action Fraud has logged a sharp increase in coronavirus-related fraud since February 2020, with total losses amounting to nearly £970,000. How can you protect against it?