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News from InAccountancy

Tax planning 2019-20: What to do and when

10th February 2020 | Written by In Accountancy | Categories : News
Tax planning 2019-20: What to do and when

The fiscal year 2019-20 ends on 5 April 2020. If you would like to take advantage of any year end tax planning opportunities before the end of the tax year on 5th April, you have just a few weeks left
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Extended Winter Support Scheme

23rd October 2020 | Written by In Accountancy | Categories : CoronaVirus, Limited Companies, News, Small Business Advice, Sole Traders
Extended Winter Support Scheme

The Winter Support Scheme has been extended, with the government pledging more support to those businesses and individuals hardest hit by the coronavirus pandemic, falling demand and restrictions to trade. There are three areas of focus to the financial support
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VAT deferral and enhanced Time to Pay for self-assessment

20th October 2020 | Written by In Accountancy | Categories : News, Tax Advice
VAT deferral and enhanced Time to Pay for self-assessment

VAT Deferral – Over half a million businesses deferred VAT payments, which were due in March to June 2020, with these payments becoming due at the end of March 2021. As part of the Winter Economy Plan the government has
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Changes to the Bounce Back Loan and Coronavirus Business Interruption Loan Schemes

18th October 2020 | Written by In Accountancy | Categories : CoronaVirus, News
Changes to the Bounce Back Loan and Coronavirus Business Interruption Loan Schemes

The Bounce Back Loan Scheme (BBLS) has provided support to many UK-based small businesses. Loans are between £2,000 and £50,000, capped at 25% of turnover, with a 100% government guarantee to the lender. The borrower does not have to make
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So long, farewell and thank you Tony!!

16th October 2020 | Written by In Accountancy | Categories : News, Team News
So long, farewell and thank you Tony!!

Many of you will know Tony as the quiet man of IN Accountancy. And that might well be so most of the time, but what you may not know is just how hot he is on the dancefloor. Tony joined
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Furlough Fraud – act now

14th October 2020 | Written by In Accountancy | Categories : CoronaVirus, Pensions and Payroll, Small Business Advice
Furlough Fraud – act now

Furlough Fraud – time is running out for firms to disclose any incorrect furlough claims, even when these have been made accidentally. The 90 day amnesty period for any claims made before 22 July 2020 comes to an end on
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The VAT reverse charge

14th October 2020 | Written by In Accountancy | Categories : News, Tax Advice
The VAT reverse charge

HMRC has issued detailed guidance on the domestic reverse charge changes scheduled for 1 March 2021. The reverse charge represents part of a government clampdown on VAT fraud. Large amounts of VAT are lost through ‘missing trader’ fraud. As part
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Job Support Scheme

13th October 2020 | Written by In Accountancy | Categories : CoronaVirus
Job Support Scheme

The existing job support scheme, the furlough scheme, comes to an end on 31 October. As part of the Winter Economy Plan the government announced it will be introducing a new Job Support Scheme from 1 November 2020. For employers
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Ministers announce new grants for businesses affected by local lockdowns

12th October 2020 | Written by In Accountancy | Categories : CoronaVirus, News
Ministers announce new grants for businesses affected by local lockdowns

Businesses in England that are required to shut because of local interventions will now be able to claim up to £1,500 per property every three weeks. To be eligible for the grant, a business must have been required to close
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New trade arrangements with the EU from 1 January 2021

9th October 2020 | Written by In Accountancy | Categories : Limited Companies, News
New trade arrangements with the EU from 1 January 2021

HMRC has sent letters to VAT-registered businesses in Great Britain trading with the EU, or the EU and the rest of the world. They explain what businesses need to do to prepare for new processes for moving goods between Great
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Winter Economy Plan support for the self-employed

8th October 2020 | Written by In Accountancy | Categories : CoronaVirus
Winter Economy Plan support for the self-employed

As part of the Winter Economy Plan the Self-Employment Income Support Scheme (SEISS) will be extended under the name SEISS Grant Extension. The grant: will be limited to self-employed individuals who are currently eligible for the SEISS, and will be
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House sales rise following the introduction of stamp duty holiday

7th October 2020 | Written by In Accountancy | Categories : News
House sales rise following the introduction of stamp duty holiday

The government has announced that residential property transactions rose 15.6% in August following the introduction of a stamp duty holiday. The government has announced: a rise in sales supports nearly three quarters of a million jobs in the sector –
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Self Assessment Tax Deferral – OPT IN!

5th October 2020 | Written by In Accountancy | Categories : CoronaVirus, Personal Tax, Small Business Advice, Tax Advice
Self Assessment Tax Deferral – OPT IN!

The Self Assessment Tax Deferral outlined in Rishi Sunak’s Winter Economy Plan last month will NOT be automatically applied. In addition to the news that the deferral for VAT payments outlined in Rishi Sunak’s Winter Economy Plan would not be
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