Jul 14 2020 Temporary reduced rate of VAT for hospitality and tourism sector Categories: COVID-19Food & DrinkLeisure In the Chancellor’s Summer Statement, it was announced that a targeted reduced rate of VAT would be introduced, aimed at some of the sectors hardest hit by COVID-19 – hospitality and tourism. Such supplies, currently standard rated at 20%, will be subject to VAT at 5%. The new rate will apply from Wednesday 15 July more
Jul 13 2020 Registration is open for the Eat Out to Help Out Scheme Categories: COVID-19Food & DrinkLeisure Chancellor, Rishi Sunak, announced the Eat Out to Help Out scheme during his Summer Economic Statement on 8 July. The scheme is intended to help food businesses by incentivising customers to eat at their restaurant or other “eat in” establishments by providing a discount which can then be claimed back from the government. Eligible businesses more
Jul 10 2020 Are you interested in diversifying your farming business? Categories: Agriculture With the nature of farming being unpredictable and often challenging, more farmers have considered diversifying their business. This could be in the form of renewable energy, holiday lets or even using farm waste to manufacture products. It’s important to consider how this will complement traditional farming practices, how the investment will be funded and the more
Jul 10 2020 Scottish Government’s plans to boost the Scottish Economy Categories: COVID-19Taxation In response to the Economic Statement delivered by the Chancellor on Wednesday 8 July, Finance Secretary, Kate Forbes, announced the Scottish Government’s plans to boost the Scottish Economy. To support homebuyers and help stimulate housing market activity and the economy, the threshold at which Land and Buildings Transaction Tax (LBTT) is paid will be raised from more
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
Jul 1 2020 Deadline for Coronavirus Business Support Fund applications Categories: COVID-19 Those eligible for the Coronavirus Business Support Fund grants must ensure that they have submitted any completed applications by Friday 10 July. Consisting of the Small Business Grant Fund and the Retail, Hospitality and Leisure Grant Fund, these grants aim to keep small and medium-sized companies in business and retain productive capacity so that they can recover more