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Pay VAT Deferred Due To Coronavirus (COVID-19)

Piggy Bank

HMRC has issued guidance on paying deferred VAT. If you deferred VAT between 20 March and 30 June 2020 and still have payments to make, you can: pay the deferred VAT in full on or before 31 March 2021 opt into the VAT deferral new payment scheme when it launches in 2021 contact HMRC if […]

Economic Emergency Has Only Just Begun

Pile of coins with COVID letters over

In his recent spending review Rishi Sunak said the “economic emergency” caused by Covid-19 has only just begun, as he warned the virus would mean lasting damage to growth and jobs. Official forecasts now predict the biggest economic decline in 300 years. The UK economy is expected to shrink by 11.3% this year and not […]

UK Tariffs From 1 January 2021

Ship bringing goods to the UK

From 1 January 2021, the UK will apply a UK-specific tariff to imported goods. This UK Global Tariff (UKGT) will replace the EU’s Common External Tariff, which applies until 31 December 2020. The UKGT will apply to all goods imported into the UK unless: An exception applies, such as a relief or tariff suspension the […]

Brexit News: The Border with the European Union

Wooden Map showing corner of UK and Europe

The Government produced guidance in July 2020 outlining the implementation of Border controls in three stages for importing and exporting goods. This document outlines the processes for moving goods between GB and the EU from 1 January 2021 onwards, including processes to be introduced in April 2021 and July 2021. Import and export controls are […]

Winter Economy Plan – Deferral of VAT Bills

Up to half a million businesses who deferred their VAT bills will be given more breathing space through the New Payment Scheme, which gives them the option to pay back in smaller instalments. Rather than paying a lump sum in full at the end March next year, they will be able to make 11 smaller […]

New Grants to boost recovery of small businesses

  Thousands of smaller businesses in England are set to benefit from £20 million of new government funding to help them recover from the effects of the coronavirus pandemic, the Minister for Regional Growth and Local Government has announced.   Small and medium sized businesses will have access to grants of between £1,000 – £5,000 […]

Chancellor announces “a plan for jobs”

The letters spelling Hobs pinned on to a cork board

Many of the changes announced by the Chancellor in his statement on 8 July, such as the temporary Stamp Duty holiday, had already been leaked to the press but as in previous Budgets he still managed to keep a few surprises up his sleeve. The main thrust of his statement was to introduce measures intended […]

Domestic Reverse Charge for Building and Construction Industry Services

Are you ready for the introduction of the new way of accounting for VAT in the Building and Construction Industry? This comes into force with effect from 1 March 2021. The government had previously announced a delay to the introduction of the domestic reverse charge for the construction industry. It was due to come into […]

Capital gains tax private residence relief changes go ahead

Key in door

The latest Finance Bill includes important changes to private residence relief that took effect from 6 April 2020. The first change is to limit to just 9 months the period prior to disposal that counts as a period of deemed occupation and thus exempt from CGT even though the owners are not living in the […]



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