The Chancellor, Rishi Sunak, presented his 2021 Budget on 3 March 2021.
The extent to which the measures will affect you will depend on your personal circumstances. This report is split for your convenience into three sections:
Impact on individuals
Impact on the self-employed
Impact on small company owners
Impact on individuals
Personal allowance and income tax thresholds […]
We don’t have a crystal ball, but we do have the next best thing.
At Best Accountancy, we have at last found a cash flow creating system which is super simple to use and can build up to a 3 year cash flow quickly and be presentable to all stakeholders in the business.
Multiple layers of scenarios […]
CLIENT ALERT – 13 January 2021
Dealing with VAT arrears
Source material: Press release -https://www.gov.uk/guidance/deferral-of-vat-payments-due-to-coronavirus-covid-19#if-you-want-to-opt-in-to-the-new-payment-scheme
Dear client,
As part of the government response and financial support to businesses affected by COVID last year, VAT registered firms were allowed to defer payment of VAT falling due between 20 March 2020 and 30 June 2020.
When do you need […]
Problems paying your January 2021 tax bill?
This is an email template we suggest you issue to relevant clients. Target this email to all affected SA registered clients that may be experiencing COVID related cash flow difficulties..
Source material: https://www.gov.uk/pay-self-assessment-tax-bill/through-your-tax-code
Dear Client,
Many tax payers registered for self-assessment will be dreading the approach of 31 January 2021 […]
Due to on-going growth within the practice we are ideally looking for a person with experience of preparing Limited company accounts files.
This would ideally suit an AAT student or recently qualified with a few of years experience of being in a practice.
Knowledge of accounting software would be a big advantage in particular Xero and […]
Source material: Press release – https://www.gov.uk/government/news/46-billion-in-new-lockdown-grants-to-support-businesses-and-protect-jobs
Dear clients,
The Prime Minister has announced a new national lock-down for England, 4 January 2021, that is likely to apply until half-term February 2021. Similar restrictions are likely to apply in the other regions of the UK.
The following day the Chancellor, Rishi Sunak, stepped in and disclosed a raft […]
Source material: Press release – https://www.gov.uk/government/news/chancellor-extends-furlough-and-loan-schemes#:~:text=The%20furlough%20scheme%20has%20been,Year%2C%20the%20Chancellor%20announced%20today.
Dear client,
The Chancellor made a number of surprise announcements, 17 December 2020. In what must be a response to the continuing resilience of coronavirus, he has extended the furlough scheme and the closing date for government backed loan applications.
Details of the changes are:
• The furlough scheme was due to end […]
CLIENT ALERT – 30 November 2020
Making the most of extended retail hours
Source material: Press release – https://www.gov.uk/government/news/boost-for-high-street-as-jenrick-extends-opening-hours-for-christmas-shopping
Dear clients,
You have probably heard that retailers in England can extend opening hours in December and January to help you make the most of the festive shopping season. In the announcement government sources said:
From Wednesday 2 December, as England […]
CLIENT ALERT – 23 October 2020
Additional Support for businesses affected by coronavirus disruption
In a welcome announcement yesterday, the Chancellor, Rishi Sunak, revealed a raft of changes to the Job Support Scheme (JSS), the Self Employed Income Support Scheme (SEISS) and the Local Restriction Support Grants (LRSG). The changes will re-establish more realistic support for businesses […]
More information has now been published to the GOV.UK website regarding the Job Support Scheme (JSS). The new scheme will commence 1 November 2020, for a six month period, when the present furlough scheme ends.
A short summary of the key facts follows.
Who is eligible?
Conditions for employers:
• JSS in available to employers with a UK bank account […]
