Jul 8 2020 Overview of announcements in the Summer Economic Statement Categories: COVID-19LeisureTaxation Chancellor, Rishi Sunak, delivered his Summer Economic Statement earlier today which was focused on economic recovery following the impact of coronavirus. He began by explaining that this second phase will be a £30bn “plan for jobs”, covering three key areas – Support to find jobs, Create jobs and Protect jobs. Please note that whilst most more
Jul 7 2020 Economic Statement – Wednesday 8th July Categories: COVID-19Taxation Tomorrow (Wednesday 8 July), the Chancellor, Rishi Sunak, will deliver an economic statement, where he will announce the start of measures intended to stimulate the economy and employment prospects. This is a big moment in the intended economic recovery and there has been much speculation as to the measures likely to be announced ranging from more
Jul 7 2020 How we’ve been supporting our clients, Arbuckle Poultry Ltd Categories: AgricultureCOVID-19Taxation At EQ, along with helping our clients access relevant funding and support, we have continued to provide our usual in-depth tax and business advice, delivering a variety of complex work to ensure our clients flourish. One of those clients is Arbuckle Poultry Ltd, a family run farming business that sits on the boundary between Angus, more
Jun 18 2020 Coronavirus Job Retention Scheme – Flexible Furlough from 1 July Categories: COVID-19EQ AccountingPayroll As announced on Friday 29 May, flexible furlough, allowing furloughed employees to come back to work part time, will begin from 1 July. HMRC issued in-depth guidance on how the scheme will change from July and we’ve highlighted the main points you need to be aware of in order to make claims moving forward. As more
Jun 15 2020 We have helped clients save over £20m of R&D tax savings Categories: EQ NewsTaxation Our R&D taxperts have secured over £20m of Research & Development tax credits for companies across Scotland in a large variety of sectors. Over the last nine years, we have completed over 360 claims for innovative companies who have undertaken problem solving activities to adapt or create new processes or products, many of whom didn’t think they more
Jun 8 2020 Are you aware of the VAT treatment on certain takeaway items? Categories: Food & DrinkTaxation With many restaurants and cafes opening as takeaway only due to the impact of coronavirus, we wanted to highlight the different VAT rules that can apply to certain items. All hot or cooked takeaway food and most drinks will continue to be subject to VAT at 20% but there are some cold items that can more
May 26 2020 The Coronavirus Statutory Sick Pay Rebate Scheme is now live Categories: COVID-19EQ AccountingPayroll The Coronavirus Statutory Sick Pay Rebate Scheme, which repays employers the Statutory Sick Pay (SSP) paid to current or former employees who have been off sick as a result of COVID-19, is now live on the Gov website. You are eligible to use the scheme as an employer if: you’re claiming for an employee who’s eligible more
May 13 2020 Improving cashflow for the construction sector – corporation and income tax Categories: COVID-19Property & ConstructionTaxation As the COVID-19 pandemic continues, the inability to work on site is having a massive cashflow implication for all businesses in the construction sector. While many staff and sub-contractors are in self-isolation and mounting invoices start to become overdue, it may be prudent to revise your tax position as a means to reduce your current more