Blog: General

Measures to support businesses experiencing increases in costs or financial disruptions Employment costs Legislation will be enacted to allow small-and medium-sized businesses and employers to reclaim Statutory Sick Pay (SSP) paid for sickness absence due to COVID-19. The eligibility criteria for the scheme will be as follows: • The refund will cover up to 2

What is the priority for employers? The priority for most employers is going to be retaining staff if they can. The key message is talk to your workforce and below a few areas to consider which should be read in the light of the following; 1. The government intends to put a full package of

We have been informed that businesses who have used time to pay are receiving good support. Since HMRC has a set up a phone helpline to support businesses and self-employed people concerned about not being able to pay their tax due to coronavirus (COVID-19) last week, SME businesses have started getting support to delay payment

At what is an uncertain time, we understand that everyone will have differing concerns and priorities. The landscape in relation to COVID-19 is changing daily but we wish to reassure our clients and associates that RMT has already instigated a comprehensive business continuity plan to ensure we are able to provide an uninterrupted service Whilst

  Plant and machinery In the 2018 Autumn Budget, the government announced an increase in the Annual Investment Allowance (AIA) for two years, from £200,000 to £1 million, in relation to qualifying expenditure incurred from 1 January 2019. Special rules apply to accounting periods which straddle this date. Other changes made to plant and machinery

  Increase in the minimum qualifying period The minimum period throughout which certain conditions must be met to qualify for Entrepreneurs’ Relief (ER) is being increased from one year to two years. This has effect for disposals on or after 6 April 2019, except where a business ceased before 29 October 2018. Where the claimant’s

  Chancellor Philip Hammond’s second Spring Statement was delivered against a backdrop of political turmoil, following the voting down of Prime Minister Theresa May’s Brexit withdrawal deal. Despite describing the economy as ‘remarkably robust’, the Chancellor offered a clear warning on the potential impact of a no-deal scenario, which he said would put progress on

  A number of other key changes are coming into effect during 2019, which may have an impact on your business and personal finances. Employer-provided cars The scale of charges for working out the taxable benefit for an employee who has use of an employer-provided car are normally announced well in advance. Most cars are

  HMRC is phasing in its Making Tax Digital regime, which will ultimately require taxpayers to move to a fully digital tax system. Under the new rules, businesses with a taxable turnover above the VAT threshold (currently £85,000) must keep digital records for VAT purposes and provide their VAT return information to HMRC using MTD