by VelocityAS | Apr 1, 2022 | COVID-19, Employment, Finance, income, Self Assessment, Tax
Married Couple’s Allowance can be transferred between spouses and civil partners, and while 2m couples have claimed this since it was introduced back in 2015, there are many more people who are entitled to claim it. Go back four years The allowance, which is worth up... 
by VelocityAS | Mar 1, 2022 | Business, COVID-19, Finance, Tax
The bounce back loans, CBILS and CLBILS for larger companies were some of the most generous schemes available to businesses suffering from the impact of lockdowns due to the Covid-19 pandemic, paying out a total of £80 billion to help keep businesses afloat. The... 
by VelocityAS | Feb 1, 2022 | Accounting, Business, COVID-19
Companies with debts outside of their rental arrears face the removal of protection against creditor actions from March 31, 2022. Other debts outside rental arrears affected Currently, rent arrears built up because of forced closures as a result of COVID-19 are... 
by VelocityAS | Feb 1, 2022 | Accounting, COVID-19, income
Companies forced to close due to Coronavirus restrictions are currently protected from eviction by landlords until March 25, but a Government Bill currently before Parliament is expected to create binding arbitration following this date. Code of Practice The... 
by VelocityAS | Feb 1, 2022 | Accounting, CJRS, COVID-19, Finance, HMRC, income, SEISS, Self Assessment, Tax
Millions of taxpayers who are yet to submit their completed Self-Assessment tax return which is due before January 31 are being given a grace period to file until February 28. More than 12.2 million customers are expected to complete a tax return for the 2020/21 tax... 
by VelocityAS | Feb 1, 2022 | Accounting, CJRS, COVID-19, HMRC, National Insurance, Statutory Sick Pay, Tax
Businesses and self-assessment taxpayers are being reminded they need to include all grants paid as part of the COVID-19 support payments in their tax returns, as some may think these were non-taxable. Have you set money aside to deal with tax on support grants? HMRC...