Chris Hill
By Partner Chris Hill

 

The significant and sudden contraction of business activity in the economy is impacting businesses of all sizes and in all sectors. As we all adjust to what is hopefully just a short term crisis, what steps can you take to manage the tightening of cash flow. Here are our Top 10 Tips:

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Dale Simpson
By Partner Dale Simpson

 

The speed and extent of the restrictions imposed by Government to combat Covid-19 has thrown into the spotlight the difficulties likely to be faced by businesses, families and individuals in rented accommodation.

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Chris Hill
By Partner Chris Hill

 

People who have self-isolated or are voluntarily working from home should expect to be targeted by criminals who are exploiting the coronavirus pandemic on an industrial scale.

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The reporting of the disposal of residential property sales by UK resident individual or trustees will change with effect from 6 April 2020 and will also affect the timing of capital gains tax paid on these sales.

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Whilst the Chancellor of the Exchequer, Rishi Sunak, is about to announce details of an employment and wage subsidy rescue plan to assist employers and employees to minimise the impact of COVID-19, many of those in self-employment are still unsure of the options available to them.

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Sheldon Cole
By Partner Sheldon Cole

 

We live in unprecedented times.  All businesses will be closely monitoring their cash position as well as their financial performance.

Where an individual or company makes a loss then depending on the nature of the loss there may be scope to claim to offset the loss against other income or gains of the same, an earlier or a future tax year or accounting period and generate a much-needed tax repayment from HMRC.

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Mark Tibbert
By Partner Mark Tibbert

 

Compared to the last few days, there were fewer announcements in the Prime Minister’s update last night. The speech was more focused on reassurance than unveiling any specific new measures. 

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Peter Brown
By Director Peter Brown

 

The coronavirus is posing unprecedented challenges to people from all walks of life so we are very concerned for our agricultural clients. However, we must remember that farming has survived many crises through the years and has continued to provide food and a wonderful rural environment.

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Patrick Tigwell
By Partner Patrick Tigwell

 

The Chancellor’s action points to support the economy and in particular the leisure, hospitality and retail sectors was very welcome but practical issues are starting to emerge about how this assistance would actually work in practice.

Here are some of the limitations and practical issues that we have found thus far.

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A new Environmental Land Management (ELM) scheme is set to replace the Basic Payment and Countryside Stewardships schemes, which are currently available to farmers, by 2025.

Any farmers who are currently involved in a stewardship agreement could benefit from taking part in the scheme when it is launched in 2024.

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