Additional funding has been announced as part of the Kickstart scheme to help businesses recover from the adverse effects of coronavirus. Funding of between £1,000 – £3,000 will become available at the end of August for specialist professional advice covering HR, financial (including accountancy), IT, digital and consultancy sectors. The grant could also be spent…
Individuals and members of partnerships who meet the eligibility criteria will be able to claim the second SEISS grant from the 17th August. How is it calculated? The second grant will be slightly reduced in value, calculated by taking 70% of your average monthly trading profits from the last three Self Assessment Tax Returns. This…
Chancellor Rishi Sunak’s address in the House of Commons today has brought updates to existing schemes, as well as introducing some new incentives to help in restarting the economy. There is a clear focus on trying to prevent unemployment rates from spiralling in the coming months. The chancellor continues to refute the notion that mass…
Griffin Chartered Accountants are delighted to be the headline sponsor for the 373 Business Awards for the 4th consecutive year. The 373 Group Annual Awards aim to celebrate the many incredible businesses across the South West. During these unprecedented times, many businesses are working tirelessly to support their staff, clients, and the wider community. The…
The chancellor has announced that changes to the Coronavirus Job Retention Scheme are being brought forward to 1st July, as well as a second grant being made available to self-employed persons. Coronavirus Job Retention Scheme The second phase of the CJRS is set to begin on 1st July, a month earlier than originally planned. CJRS…
Amongst all the present focus on the coronavirus, Rishi Sunak has delivered his first budget as chancellor. With a mix of expected and surprising changes to tax and the wider economy, we highlight some of the important considerations. National Insurance As pledged in the Conservative manifesto, the government are delivering on their promised national insurance…
Amid growing concerns about the scale of disruption expected because of the coronavirus, the Bank of England has today announced an emergency cut in interest rates. Why has the cut been made? The decision by policymakers to reduce rates from 0.75% to 0.25% was not only taken to lessen the cost of borrowing to historically…
With big changes to the way Capital Gains Tax (CGT) due from residential property sales is reported and paid coming on 6th April, it is important to understand how this could affect you. What are the changes? The impending changes primarily reduce the time period allowed to report and pay the Capital Gains earned on…
Whether you are looking to reduce your environmental impact or save money, there are several great reasons to consider getting an electric car through your company. What are the tax implications for the business? One of the biggest differences between electric vehicles (EV) and their petrol counterparts is how they are treated for tax purposes….
What you need to know about the upcoming changes to Entrepreneurs Relief Entrepreneurs often see their business as a valuable asset to provide them with pension when they retire and have been counting on Entrepreneurs’ Relief (ER) to minimise the capital gains tax on sale of their business. However, with the 2020 budget around the…