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Why compound interest is important
25/11/2020
Many of us are building a pension fund, a portfolio of shares or deposits with our bank or building society. Most of these investment options reward us for our participation by offering income (usually in the form of interest or dividends) or by demonstrating capital growth (share prices increasing). Accordingly, there are three Read more...


Immigration Act receives Royal Assent
19/11/2020
The Immigration and Social Security Co-ordination (EU Withdrawal) Act 2020 received Royal Assent on 11 November 2020. This is the legislation which will end the free movement of persons under retained EU law in the UK at 11pm on 31 December 2020. It will also repeal other retained EU law relating to immigration. A new points-based Read more...


Email to replace Companies House postal reminders
19/11/2020
Companies House has issued a press release to remind all companies to sign up for email reminders for annual accounts and confirmation statement. Companies House has now stopped sending reminders by post and has sent a final reminder letter to all companies currently receiving paper reminders. The letter explains why Companies House has Read more...


Claiming the Self-Employed Income Support for first time?
19/11/2020
The Government has confirmed that the Self-Employed Income Support Scheme (SEISS) grant extension will apply for 6 months from 1 November 2020. It will be possible to claim the SEISS grant extension even if no previous claim had been made under the scheme once the eligibility criteria are met. The self-employed will receive 80% of Read more...


Bounce Back loans still available
19/11/2020
The Bounce Back Loans scheme was launched in May 2020 to provide financial support to businesses across the UK that are losing revenue and seeing their cashflow disrupted as a result of the COVID-19 pandemic. The scheme allows small businesses to borrow between £2,000 and £50,000 and access the cash in most cases within 24 hours of Read more...


£1 million Annual Investment Allowance extended
19/11/2020
In a welcome move, the government has announced that the temporary Annual Investment Allowance (AIA) cap will be extended for a further 12 months until 1 January 2022. The government says that this move is intended to boost confidence as companies look to weather the pandemic and plan for the future. This should also encourage investment Read more...


Benefit conditions – annual parties and events
19/11/2020
Now is usually the time that businesses are planning Christmas parties for staff as well as possibly for partners/spouses, clients and prospective clients. Of course, with the continued pandemic and various lockdowns Christmas is looking pretty much cancelled this year. However, we have set out the benefit conditions for annual parties Read more...


Benefit conditions – Trivial benefits
19/11/2020
The trivial benefits in kind (BiK) exemption applies to small non-cash benefits like a bottle of wine or a bouquet of flowers given to employees or any other benefit in kind classed as 'trivial' that falls within the exemption. Although the benefit is defined as ‘trivial’, employers should remember that this offers a great opportunity to Read more...


Businesses within the scope of VAT in the UK
19/11/2020
The VAT system is policed by HMRC who can and do levy penalties for breaches of the legislation. There are four conditions that must be satisfied in order for an activity to be within the scope of UK VAT. These conditions are that the activity: Is a supply of goods or services That the supply takes place in the UK Is made by a Read more...


HM Treasury instructions re CJRS
19/11/2020
An updated Treasury Direction under sections 71 and 76 of the Coronavirus Act 2020 concerning the extended Coronavirus Job Retention Scheme (CJRS) was published on 12 November 2020. The CJRS was due to come to an end on 31 October 2020 but has now been extended until 31 March 2021. Effective 1 November 2020, employees will receive up to Read more...

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