Our experts provide their insights on the latest industry developments and share tips on accountancy and business matters.
17 August 2020
Business resilience – the antidote for COVID-19There’s been a lot of concern expressed that an imminent rise in corporate failures is on the cards as soon as support from the government unwinds. While I think a rise is likely, I don’t feel it’s bleak as the commentators are suggesting. As with any challenging time in business, it’s not the biggest or strongest that survive, it’s those that can adapt the quickest.
15 August 2020
IR35 in the private sector - the road aheadWe’ve been talking about the “proposed” changes to the off-payroll worker rules in the private sector for a long time, exacerbated by the Government’s announcement on 17 March to delay the legislation because of the coronavirus pandemic. However, these changes are no longer just “proposed” they’re now confirmed and will come into force in April 2021.
08 August 2020
Lower property values can provide planning opportunitiesWith pressure on both rental income and asset values, it’s not a great time to be a landlord in Aberdeen, but it may be the perfect time to consider Inheritance Tax (IHT) planning opportunities.
07 August 2020
HMRC publishes guidance on penalties for incorrect claims under SEISSHMRC has recently published guidance detailing the steps to take if you have incorrectly applied for and received a grant through the Self-employment Income Support Scheme. The guidance sets how HMRC assess and penalise self-employed workers who have claimed a grant they’re not entitled to.
05 August 2020
HMRC preferential creditor status restored – what this means for lenders and directorsHMRC’s secondary preferential creditor status was restored on 22 July when the Finance Act 2020 received Royal Assent. This makes HMRC, once again, a priority creditor to pay when a company goes into administration or liquidation from 1 December 2020.
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