HMRC have announced that if you deferred VAT payments due between 20 March and 30 June 2020 and still have payments to make, you can join the VAT deferral new payment scheme. This is an online service that will be open between 23 February and 21 June 2021. The portal for accessing this service is not yet available, but more information can be found on the HMRC website here.
Eligible businesses will be able to apply for a grant of up to £2,000 to pay for practical support when importing and exporting to and from the European Union. The grants are part of a new £20 million SME Brexit Support Fund to help small businesses with changes caused by the UK's departure from the EU. SMEs who historically have traded internationally only with the EU, and are therefore new to importing and exporting processes, will be encouraged to apply for these grants of up to £2,000 to pay for practical support, including training and professional advice to ensure you can continue trading effectively with the EU.
As we are entering the transition period from Basic Payment Scheme (BPS) to the Environmental Land Management Scheme (ELMS), part of this transition will see the current Countryside Stewardship Scheme being replaced by ELMS from 2024. Entering a stewardship scheme can help prepare and position your business well for the future of subsidies.
With around three weeks to go until the Chancellor stands up to present what will be his second Spring Budget, what can we expect him to say? There has been much debate over what he should do or what he might do, however, what we can say is only the Chancellor currently knows.
Thomas Westcott Chartered Accountants is supporting an initiative that is helping people in and around Exeter find work and start new businesses. The South West accountancy firm is sponsoring Exeter Works, which provides support for individuals seeking to change career or start a business and guides businesses through new challenges.
Most of us are aware that purchases of residential property until 31 March 2021 benefits from the temporary 0% Stamp Duty Land Tax (SDLT) applicable on purchases up to £500,000.
With many businesses currently rethinking their plans regarding their office and premise requirements, there has been an exodus of tenants breaking leases and leaving landlords finding themselves with empty properties.
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