-
Blog: Covid-19 business support update three, Sean Farnell
It has been a month since Chancellor Rishi Sunak stepped up to the podium at Downing Street to announce an ‘unprecedented’ package of support for businesses across the UK. The major step on March 20 was the Job Retention Scheme and we’re now expecting, and hoping, that the portal for the scheme will be going…
-
BLOG: Covid-19 business support update two, Sean Farnell
We have been working closely with a great number of clients over the course of the two weeks to answer the numerous questions around the support they can access and are entitled to during the Covid-19 pandemic. There has been considerable uncertainty, fuelled by the distinct lack of the detailed information which goes alongside the initial government announcements. Everybody…
-
BLOG: Simon Chapman on changes to UK insolvency laws
Business Secretary Alok Sharma has announced that there will be temporary changes introduced into the UK’s insolvency laws – another measure introduced to support companies hit by the COVID-19 pandemic. We are still waiting for further detailed guidance to be issued so we can understand the specific measures being put forward, but on first…
-
BLOG: Reaction to self-employed support announcement, Rosy Hughes
Reaction to Covid-19 self-employed provision – Rosy Hughes, Head of Private Client Tax On Thursday evening Chancellor Rishi Sunak stepped up to the podium again for another announcement – this time tasked with providing support to the self-employed. The provision of financial support for the self-employed population is without a doubt a complex issue, but…
-
Don’t get caught out by Capital Gains tax changes
Landlords and investors selling residential properties could get caught out by changes to a key tax next month. The window to pay capital gains tax on sales of residential properties will be reduced by up to 22 months when new regulations are introduced from Monday, April 6. Tax specialist Rosy Hughes expects many people…
-
BLOG: Covid-19 business support update, Sean Farnell
Friday evening saw another round of funding and measures introduced by Chancellor Rishi Sunak to support businesses across the UK. The headline announcement was the unprecedented announcements of the Coronavirus Job Retention Scheme, which will see HMRC reimburse 80 per cent of furloughed worker wage costs up to a cap of £2,500 per person. This…
-
HMRC delay IR35 Implementation
Despite the Chancellor confirming only last Wednesday that the off payroll working rules for the private sector would come into force from the 1 April 2020, Chief Secretary to the Treasury Stephen Barclay told MPs yesterday that the rule change would not now come in until 6 April next year, 2021. Mr Barclay, speaking during…
-
Budget 2020 reaction: Sean Farnell, Partner
Entrepreneurs considering selling their businesses won’t be put off by changes to relief announced in the Budget, according to a leading accountancy firm. Chancellor Rishi Sunak showcased £30 billion worth of spending to support the country during the coronavirus threat – and also announced plans to scale back Entrepreneurs’ Relief. Sean Farnell, a partner at…
-
Budget 2020 preview from Anne Rose, Head of Tax
A tax specialist has warned changes to two key measures in the upcoming Budget could provide a further headache to individuals trying to sell their business. Anne Rose, head of tax at accountancy firm Burgis & Bullock, says changes to Entrepreneurs’ Relief and upping Capital Gains Tax could force business owners to think twice…