Blog | RMT Accountants and Business Advisors Newcastle

February 5, 2021

Making the most of R&D

UK companies spent over £25 billion on Research and Development (R&D) during 2018, and HMRC’s statistics show that the volume of R&D relief claimed by small and medium sized companies (SMEs) is increasing. However, many eligible SMEs are still not claiming the relief. This is often due to a lack of awareness, or a misunderstanding

February 5, 2021

The advantages of electric vehicle salary sacrifice schemes

Businesses looking to reward and retain staff members may wish to consider offering an electric vehicle (EV) salary sacrifice scheme. Not only are many EVs better for the environment, but they could also offer businesses considerable savings. Businesses can use employee salary sacrifice – similar to schemes offered for pension contributions, cycle to work schemes

February 5, 2021

The VAT Reverse Charge for the Construction Industry Scheme – Are you ready?

From 1 March 2021, businesses within the Construction Industry Scheme (CIS) must record, report and pay VAT under the new VAT domestic reverse charge rules. This change affects both contractors and subcontractors and the supply of certain kinds of construction services in the UK. Under the new rules, VAT registered subcontractors who provide a service

February 5, 2021

RMT Accountants’ Advice Helps North East Entrepreneurs Acquire Adaptive Living Firm

Advice from RMT Accountants & Business Advisors has helped to bring two successful North East adaptive living businesses together under one roof. Dolphin Stairlifts (North East) and Shape Adaptations have been bought by Stephen and Mary Smith and brought together to form the new Depend Group, which will act as a one stop shop for

February 1, 2021

VAT after Brexit: what you need to know

Following the end of the transition period on 1 January 2021, many businesses are taking on the challenge of overseas accounting for the first time. To support your business, we’ve answered some of the most common questions we’ve received over the past month. Is VAT applicable on the purchase of a service from EU countries?

January 22, 2021

Requests for exemption from publication of furlough claims must be submitted by Monday 25 January

HM Revenue & Customs (HMRC) has confirmed that the final deadline for employers to request an exemption from the publication of furlough claims will be this coming Monday 25 January 2021. Shortly after it was announced in the autumn that the Coronavirus Job Retention Scheme (CJRS) would be extended and reset to resemble the original

January 18, 2021

COVID-19 business interruption insurance – Are you due a payout?

Thousands of small businesses across England and Wales may be about to receive insurance payouts from business interruption insurance policies, following a ruling in the Supreme Court. More than 370,000 small businesses in England and Wales could be due a payout on their business interruption insurance after the Supreme Court ruled in favour of payments

January 13, 2021

Self-Assessment: HMRC set to waive fines for late returns due to COVID-19

HM Revenue & Customs (HMRC) is set to waive fines for taxpayers who file their tax returns late, providing that they can prove that the delay was because of COVID-19. HMRC confirmed the news in a statement, with the 31 January filing deadline looming. The decision was taken with England entering a national lockdown and

January 11, 2021

Are you making full use of the Government’s COVID-19 financial support package?

As we find ourselves in yet another national lockdown, businesses may be concerned about their ability to survive and succeed in the weeks and months ahead. The level of support on offer from the Government and local authorities is unprecedented via the various grants, loans and payment holidays now available. To help you make sense