Mar 9 2021 Budget 2021 – VAT Rates for hospitality and leisure business Categories: LeisureTaxation The Chancellor’s Budget extended the current 5% reduced rate for hospitality and leisure business for six months to 30 September 2021 followed by an interim rate of 12.5% before reverting to the standard rate of 20% from 1 April 2022. The extension will be welcomed by all as many businesses have been able to pass more
Mar 5 2021 Budget 2021 – Road to Recovery Categories: COVID-19 This year like in other years the UK budget contains a mixture of taxation and non-taxation announcements. The non-taxation announcements are equally as important, if not more so this year as we look to recover from the COVID-19 pandemic. Detailed below are a summary of some of these: Recovery Loan Scheme – This new loan more
Mar 4 2021 Budget Summary 2021 – The Big Freeze Categories: Taxation Yesterday’s Budget delivered by Chancellor, Rishi Sunak, was met with a collective sigh of relief by tax practitioners who had perhaps feared the worst particularly in relation to capital taxes. As it turned out, the Budget was as notable for what it didn’t cover as what it did. In a polished, confident performance, the Chancellor more
Mar 3 2021 How the Budget announcements affect the hospitality sector Categories: Leisure Following the devastating effect of the pandemic on hospitality, today’s Budget signalled an outline for the sector to return to “normality”. So, what were the key announcements? Funding sources Coronavirus Job Retention Scheme extended to 30 September 2021 with employers required to make contributions from July onwards Self-employment funding similarly extended with the 4th and more
Mar 2 2021 The Regional Food Fund reopened for applications Categories: COVID-19Food & Drink The Scotland Food & Drink Partnership’s Regional Food Fund has reopened for applications. Supported by the Scottish Government, the latest round of funding has £100,000 available to help drive projects that celebrate locally sourced and produced food and drink across Scotland. Managed by Scotland Food & Drink, local projects can apply for grants of up to more
Feb 24 2021 Minimum Wage increases from April 2021 Categories: EQ AccountingPayroll The government has announced increased minimum wage rates that will take effect from 1 April 2021. The National Living Wage (NLW) will increase by 2.2% from £8.72 to £8.91 and will be extended to 23 and 24 year olds for the first time. For workers aged under 23, Commissioners recommended smaller increases in recognition of more
Feb 23 2021 Finding the right project management software for your business Categories: Cloud AccountingTechnology Our EQ Technology team work closely within the sector to find the best solutions for our clients and understand that one of the most important roles for businesses is to manage the costs and income of individual projects it is undertaking. Projects in IT and technology are often complex and it is important to establish more
Feb 19 2021 Non-domestic rates relief extended in Scotland Categories: COVID-19Leisure Cabinet Secretary for Finance, Kate Forbes, has announced that 100% non-domestic rates relief for the retail, hospitality, leisure and aviation sectors will be extended to cover all of the 2021-22 financial year. This builds on the three month rates relief extension announced in the Scottish Budget and will be taken forward provided the Scottish Government more