What is the job retention scheme bonus?

Hand with iPhone

Employers will be able to claim a one-off payment of £1,000 for every employee they have previously received a grant for under the Coronavirus Job Retention Scheme (CJRS), and who remains continuously employed through to the end of January 2021. To be eligible, the employee must have received earnings in November, December and January, and … Read more What is the job retention scheme bonus?

Is your van actually a car? – The answer may surprise you.

a Van and a car

“Should I buy a car or a van” is a question we frequently get asked at 1 Accounts. Our recommendation is usually van. This is because you can claim back the VAT and the taxable benefit in kind is usually much less than a car (unless electric).   As the benefits of buying a van … Read more Is your van actually a car? – The answer may surprise you.

Is the new electric bike grant right for your business?

Cyclist - The cycle to work scheme

Boris Johnson announces grants for Electric Bikes, but are they a good idea for small business owners? Bikes (including E-bikes) costing over £1000 will now be included in the Governments ‘Cycle to Work’ scheme. If any of your team members are keen to cycle to work, this is a great opportunity for your business to … Read more Is the new electric bike grant right for your business?

Defer Your Self-assessment Payment On Account

Defer your payment on account

Choose how and when you can delay making your second payment on account for the 2019 to 2020 tax year. You have the option to defer your second payment on account if you are: registered in the UK for Self-Assessment and finding it difficult to make your second payment on account by 31 July 2020 … Read more Defer Your Self-assessment Payment On Account

COMPANIES HOUSE TO RESTART THE VOLUNTARY STRIKE OFF PROCESS

Baseball

In March 2020, CH introduced temporary easement measures to suspend voluntary strike off action in response to coronavirus (COVID-19) and they have reviewed these measures each month. Following the July review, this temporary measure will be lifted from 10 September 2020. From this date, CH restart the process to dissolve companies that have applied for … Read more COMPANIES HOUSE TO RESTART THE VOLUNTARY STRIKE OFF PROCESS

Eat Out to Help Out

Eat out to help out logo

Restaurants and other establishments serving food for on-premises consumption can now sign up to a new government initiative aimed at protecting jobs in the hospitality industry and encouraging people to safely return to dining out. The Eat Out to Help Out registration service went live on the 13th of July on GOV.UK, allowing businesses to … Read more Eat Out to Help Out

Another Furlough Update

Cup of coffee and laptop

CORONAVIRUS JOB RETENTION SCHEME (CJRS) UPDATE. From 1st July “Flexible Furlough” was introduced and the calculations and time recording of full-time, part-time and fully furloughed employees has become more complicated. Changes are occurring regularly as the Government and HMRC make clarifications to the scheme. If you have any queries regarding your claim talk to us … Read more Another Furlough Update

VAT – REDUCED RATE OF 5%

Pizza

VAT – REDUCED RATE OF 5% The government made an announcement on 8 July 2020 allowing VAT registered businesses to apply a temporary 5% reduced rate of VAT to certain supplies relating to: hospitality hotel and holiday accommodation admissions to certain attractions The temporary reduced rate will apply to supplies that are made between 15 … Read more VAT – REDUCED RATE OF 5%

What does Rishi’s mini budget mean for you?

Pictures of Rishi the UK's chancellor

We spent a large part of yesterday afternoon listening and reflecting on the budget update from the chancellor. In this blog, we will take you through what this actually means for you. If you furloughed a member of staff you probably received this excellent summary from the government of the changes being announced. (It’s probably … Read more What does Rishi’s mini budget mean for you?

Businesses Need To Reinstate VAT Direct Debits

The deferral of VAT payments due to coronavirus comes to an end on 30 June and businesses need to take action to reinstate their direct debit mandates. The Institute of Chartered accountants in England and Wales (ICAEW) Tax Faculty has reminded its members. The VAT payment deferral means that all UK VAT-registered businesses have the … Read more Businesses Need To Reinstate VAT Direct Debits