COVID GRANT FUNDING from Local Councils

The applications for the small business, hospitality business and rates relief grants are now available. The deadline is 31 March 2021 so please deal with this before this date if you qualify.  The applications are similar on each council site – see below: DUNDEE CITY Dundee City Council website – https://www.dundeecity.gov.uk/coronavirus-covid-19 Click on “Advice for[…]

CORONAVIRUS (COVID-19) GUIDANCE

In these uncertain times I wanted to reach out to you all to let you know we are here to offer support and guidance over the next few months and beyond.   Health and wellbeing are the most important things right now so we made the decision last week that our people are working remotely[…]

WILL COVID-19 ACCELERATE REMOTE WORKING PRACTICES?

The Coronavirus lockdown has forced businesses to adopt remote working across the board, but will employees want to continue working from home post Covid-19? In the past 10 years or so, the number of people working remotely has increased significantly. Major contributors to this shift include technology related advancements, cultural changes to work-life integration and[…]

NEW AUTHORISED ECONOMIC OPERATOR PORTAL OPENS 1 JUNE

The Government are still committed to the transitional Brexit period ending on 31 December 2020 and businesses trading with the EU need to make sure they are ready for major changes. If you are applying for Authorised Economic Operator (AEO) status from 1 June 2020, you must submit them through the EU Customs Trader Portal.[…]

FOOTBALL REFEREES ARE SELF-EMPLOYED

Many of you will be looking forward to the football season resuming, albeit behind closed doors. There has been an interesting tax case recently concerning the employment status of referees. The Upper Tier Tribunal has rejected an appeal by HMRC concerning whether referees officiating at matches in the Championship and lower leagues were employees of[…]

P11D FORMS STILL DUE BY 6 JULY

Despite the Coronavirus lockdown, HMRC have announced that they will still expect P11D forms reporting expenses and benefits to be submitted by the normal 6 July deadline. Remember that reimbursed expenses no longer need to be reported where they are incurred wholly, exclusively, and necessarily in the performance of the employee’s duties. Dispensations from reporting[…]

CAN WE FURLOUGH THE COMPANY CAR?

During the lockdown period many employees and directors have not been using their company cars and they have been left sitting in the driveway. You might think that means that the benefit of having a company car does not apply, but unfortunately HMRC do not agree. HMRC have recently confirmed that there continues to be[…]

MAKING TAX DIGITAL DURING COVID-19

Three things that have made lockdown manageable: my daily walk, many chocolate biscuits, and the cloud. No, not the cloud I watch float by my window as I daydream about my next getaway, but cloud accounting. It’s tough to comprehend what the past few months would have consisted of if the movement towards making tax[…]

PHISHING – TAKE CARE AND BE AWARE

The phrase ‘phishing’ is an analogy of an angler throwing out a baited hook in the hope that you will bite! Disguised as an important email from a colleague, friend, or business, phishing is becoming more sophisticated and appears to be the on rise throughout the Coronavirus pandemic. According to cybersecurity company KnowBe4, Coronavirus-related phishing[…]

MORE DETAILS ON SELF-EMPLOYED GRANT SCHEME

Like the CJRS scheme for employers, the initial HMRC guidance on the grant scheme to support the self-employed and members in partnerships was also very vague. The self-employed income support scheme (SEISS) allows the self-employed to claim 80% of their average profits for the period up to 2018/19, limited to £2,500 a month, initially for[…]

LEADING A REMOTE TEAM DURING UNCERTAIN TIMES

The uncertainty faced by businesses around the world will test even the greatest managers and leaders. There are some key steps that you can take to ensure your team feel supported, engaged, and ready to tackle what comes next. Communicate and then communicate some more Uncertainty produces anxiety throughout your team, other employees, your firm’s[…]

CONSIDERING YOUR POST-LOCKDOWN STRATEGY

Now is the time to start considering how you can grow your business after lockdown, focusing on potential goals, opportunities or cultural change. Set out your goals The current disruption being experienced by businesses across the world is a huge challenge. However, it may also be an opportunity for your firm. Start by thinking about[…]

CGT PRIVATE RESIDENCE RELIEF CHANGES GO AHEAD

The latest finance bill includes important changes to private residence relief that took effect from 6th April 2020. The first change is to limit to just 9 months for the period prior to disposal that counts as a period of deemed occupation and thus exempt from CGT even though the owners are not living in[…]