Blog | RMT Accountants and Business Advisors Newcastle

March 5, 2021

Almost two-fifths of small businesses are looking to trade overseas

Despite the impact that Brexit has had on trade in the UK, a new survey conducted by YouGov has found that 38 per cent of small businesses are likely to trade overseas this year. The study, commissioned by Lawbite, found that of the 791 small businesses questioned two-fifths were planning to trade overseas, which scaled

March 5, 2021

HMRC updates tax rules and calculations on ultra-low emission vehicles

HM Revenue & Customs (HMRC) has released new guidance that brings changes to the company car benefit calculations, as the Government looks to encourage greater use of ultra-low emission vehicles (ULEV). Under the new rules, if a ULEV has a CO2 emission figure of 1-50g/km, businesses will now need to provide the car’s zero-emission mileage,

March 1, 2021

EU VAT One-Stop-Shop to launch in July 2021

The European Commission, in response to the challenges created by the Coronavirus pandemic, has decided to postpone its new European VAT rules for business-to-consumer (B2C) transactions until 1 July 2021. These new rules are part of the EU’s new e-commerce package and will look to introduce a VAT One-Stop-Shop (OSS) for B2C sales. Originally due

February 23, 2021

The SME Brexit Support Fund: how do I apply and how much could I get?

The SME Brexit Support Fund will open to applications imminently. To help your business secure vital support, here’s everything you need to know. What is the SME Brexit Support Fund? Announced this month, the £20 million fund is designed to help small and medium-sized enterprises with changes to trade rules with the EU, such as

February 15, 2021

Download Our Latest Brexit Guide to Understand The Complexities of Post-Brexit VAT

Thousands of businesses across the UK have been having to get to grips with new rules surrounding VAT, imports and exports since the Brexit transition period ended at the start of this year. To help, our experienced team have put together a detailed guide on post-Brexit trade and the new rules around VAT on imports

February 15, 2021

What You Need to Know About The End of The Northern Ireland Grace Period

It was today revealed that the European Commission is unlikely to accept the Government’s proposition of a two-year extension to the Northern Ireland grace period. With reports suggesting that the Union will consider a three-to-six-month extension at best, what does this mean for businesses transporting goods into Northern Ireland? What is the Northern Ireland grace

February 15, 2021

£2,000 Grants For Brexit-Related Training or Professional Advice Announced

The Government has announced the launch of a £20 million SME Brexit Support Fund, intended to help SMEs with the new rules that apply to trading with the EU following the end of the Brexit transition period. The fund offers grants worth up to £2,000 to enable businesses who trade only with the EU and

February 12, 2021

Reviewing Your Business Finances For Post-Covid Recovery

By Chris Ferguson, head of recovery and insolvency at RMT Accountants & Business Advisors If you’d been standing at a New Year’s Eve party in 2019 contemplating the coming year, the chances are that you didn’t quite foresee the turmoil that lay ahead… The onset of the Covid-19 pandemic and everything that came with it

February 9, 2021

COVID-19 Bounce Back Loan repayment period extended

The Government has announced changes to the Bounce Back Loan Scheme (BBLS) available to small businesses in the UK that will give companies longer to repay what they have borrowed. Around 1.4 million small and medium-sized businesses have taken out a loan since they were introduced last year, amounting to around £45 billion of financial