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What’s happening?

Here you can keep up to date with our latest news, as well as the latest goings-on in the world of accounting.

The transfer of a business as a going concern (TOGC) rules concern the VAT liability on the sale of a business. Normally the sale of the assets of a VAT registered or VAT registerable business will be subject to VAT at the appropriate rate. Whe... Read More

The Coronavirus Job Retention Scheme (CJRS) commonly known as the furlough scheme is open to all UK employers and will now run until 31 March 2021. From 1 November 2020, employees will receive up to 80% of their salary for hours not worked with a rev... Read More

The Financial Conduct Authority (FCA) has announced new proposals to ensure that lenders provide tailored support to mortgage borrowers who continue to face payment difficulties due to the COVID-19 crisis. This follows the additional government measu... Read More

The government guidance for landlords and tenants as a result of the coronavirus pandemic has been updated. The Coronavirus Act 2020 provides protection to social and private tenants by delaying when landlords can start proceedings to evict tenants.&... Read More

The coding threshold entitles tax payers to have tax underpayments collected via a tax code, provided they are in employment or in receipt of a UK-based pension. The coding applies to certain debts such as Self-Assessment liabilities, tax c... Read More

The detailed Furlough Scheme rules were updated 10 November 2020. To use the extended scheme – to 31 March 2021 – the steps that are required are: Check if you can claim Check which employees you can put on furlough Steps to ta... Read More

Shielding for clinically extremely vulnerable people was paused in England on 31 July 2020. However, the government has now updated its guidance on shielding and protecting people who are clinically extremely vulnerable from COVID-19 to cover the per... Read More

The Living Wage Foundation has announced that its UK Living Wage has risen by 20p per hour from £9.30 to £9.50 per hour. Its London Living Wage has risen by 10p per hour from £10.75 to £10.85 per hour. Over 250,000 UK workers... Read More

One of the great benefits of data stored in an electronic format is that it can be sorted in an endless array of reports. This offers business owners who have invested in accounts software a range of options. Once you have input basic accounts infor... Read More

While we wait for the magic-bullets that promise to reduce the impact of COVID – vaccines etc – should we be exploring ways to exchange goods and services with our suppliers and customers? Barter is defined as: the exchange of goods and s... Read More

If you sell goods or material that can be sold from the internet, have you considered this form of sales platform for your business? Providing access for your goods on the internet is a sensible strategy. If we have learnt anything from COVID it is... Read More

While politicians and scientists try and figure out the best way to control COVID, we are left to pick up the pieces and try and salvage what we can of our businesses. Our economy is built on various, level playing field assumptions: Same legal r... Read More