Changes to the Furlough Scheme from 1st September

The HMRC is making changes to the Coronavirus Job Retention Scheme (CJRS) from 1‌‌st September and what this means for you.   What you need to do from 1‌‌ September From 1‌‌ September CJRS will pay 70% of usual wages up to a cap of £2,187.50 per month for the hours furloughed employees do not work.You will still need to pay your … Continue reading Changes to the Furlough Scheme from 1st September

Mini-budget July 2020

Today the Chancellor announced the introduction of the Job Retention Bonus. This is a one-off payment of £1,000 to employers that have used the Coronavirus Job Retention Scheme (CJRS) for each furloughed employee who remains continuously employed until 31‌‌‌ ‌January 2021. The bonus will provide additional support to retain employees. To be eligible, employees will … Continue reading Mini-budget July 2020

VAT reverse charge for construction services delayed due to coronavirus

HMRC has announced that the introduction of the domestic reverse charge for construction services will be delayed until 1 March 2021 due to the impact of the coronavirus pandemic. What do you need to know? What is the reverse charge? Rules are being introduced to tackle VAT fraud within the construction industry. The reverse charge … Continue reading VAT reverse charge for construction services delayed due to coronavirus

When is providing food and drink to customers deductible?

Business entertainment Income tax, corporation tax and VAT legislation each contain a similar rule which blocks a tax deduction for “business entertainment” costs. This includes hospitality of any sort. A common example is where a business provides food and drink for an individual, say a customer. However, not all such supplies are business entertainment. Tip. The exception … Continue reading When is providing food and drink to customers deductible?