by VelocityAS | Oct 28, 2020 | Business, COVID-19, Winter Economy Plan
The Government launched four temporary Government-backed schemes to provide finance to businesses struggling as a result of the COVID-19 pandemic: the Bounce Back Loan Scheme (BBLS); the Coronavirus Business Interruption Loan Scheme (CBILS); the Coronavirus Large... 
by VelocityAS | Oct 28, 2020 | Business, COVID-19, HMRC, Tax, VAT, Winter Economy Plan
In his Winter Economy Plan, the Chancellor, Rishi Sunak, unveiled measures which will allow self-assessment taxpayers and VAT-registered businesses more time to pay back deferred tax. New Payment Plan for VAT At the start of the pandemic, VAT-registered business could... 
by VelocityAS | Oct 28, 2020 | COVID-19, SEISS
To help self-employed individuals who continue to be affected by the COVID-19 pandemic, the Self-Employment Income Support Scheme (SEISS) has been extended for a further six months, from November 2020 to April 2021. Grants payable under the extended scheme The... 
by VelocityAS | Oct 28, 2020 | Business, COVID-19
The Job Support Scheme replaces the Coronavirus Job Retention Scheme from 1 November 2020. The scheme, which has already evolved since it was originally announced to provide a greater level of support, will run for six months until 30 April 2021. The Government will... 
by VelocityAS | Oct 28, 2020 | VAT
Postponed VAT accounting is being introduced from 1 January 2021. This will affect you if you are VAT-registered and you import goods into the UK, particularly if you are a smaller business and you do not currently use the Duty Deferment Scheme. Postponed VAT... 