Updated 28.07.20: In the last fortnight, masks have become mandatory in all shops and other indoor premises, more information has been published regarding the next steps of Making Tax Digital and it has been suggested that the UK may consider a ‘wealth tax’ to reduce government borrowing following the pandemic.
From Monday, the government’s Eat Out to Help Out scheme will allow people to claim a 50% discount on food and non-alcoholic drink consumed at restaurants and other eateries.
This follows a temporary adjustment to VAT rates for the hospitality, hotel and holiday accommodation sector from 15 July 2020 to 12 January 2021 that will see businesses benefit from a rate reduction from 20% to 5%.
Contact us for support and advice
Given the changing and uncertain situation, we understand that you will have many questions about the support available to you and you will be concerned for the future of your business and the welfare of your workers and customers.
We are here to help you choose the right path for your business. We can support communication with HM Revenue & Customs to claim the funding available to support your employees and to prepare the information required to make loan applications.
If you would like any assistance in applying for support for your employees, a financial grant or any other government support package, please contact our team.
Loans, grants and funding
Please note, the information herein is correct as of Tuesday 4 August 2020 but may be subject to change.
Some elements of business support are devolved and therefore support may differ in Scotland, Northern Ireland and Wales.
For the latest guidance and professional advice, please contact us or speak to your dedicated Duncan & Toplis adviser.
One of the first packages of support to be announced for businesses affected by COVID-19 was the Coronavirus Business Interruption Loan Scheme (CBILS).
Giving his Summer Statement on 8 July, the chancellor announced a headline measure of VAT on food, accommodation and attractions being cut to just 5%.
What a difference! Just weeks ago, our coastal towns were silenced under the UK-wide lockdown and now life is coming back to some of the nation’s favourite seaside resorts, albeit with a few caveats.
There have been a number of significant changes in recent weeks, as shops and businesses begin to make the slow return to a “new normal” as lockdown eases.
To support businesses most affected by the COVID-19 crisis and subsequent UK lockdown, the government has announced a temporary adjustment to VAT rates for the hospitality, hotel and holiday accommodation sector from 15 July 2020 to 12 January 2021.
As lockdown eases across England, the government has issued further guidance and support for pubs, cafes and restaurants that are able to open and operate safely.
Since the beginning of lockdown, many measures have been set out in an effort to stabalise businesses against the negative impact of COVID-19; from the initial support to protect UK high streets to more recent developments for young workers and making homes more energy efficient.
As companies across the country have transformed following the Government’s advice for us all to work from home wherever possible, many have asked how we’re planning to do the same at Duncan & Toplis.
From business rates holidays and grant funding to the simplification and cost reduction of licenses, the government have introduced several support measures to help businesses in the retail, hospitality and tourism sector negatively impacted by COVID-19.
Updated 24.06.2020: Ever since the first case of coronavirus in the UK, schools have faced a great deal of uncertainty. When the decision was finally taken to close schools to all but vulnerable children, and those of key workers, questions immediately turned to funding.
The COVID-19 pandemic has created unprecedented pressures across all industries. The legal profession is no exception.
HM Revenue & Customs (HMRC) will be able to recover grants, issue penalties and charge tax under proposed amendments to the Finance Bill 2020.
After weeks of quiet high streets and shuttered shop fronts, the government has announced that all non-essential retailers will be able to reopen in England from Monday 15 June. This is good news for retailers up and down the country, many of which have been unable to trade for months.
To the people who protect and care for the most vulnerable in our community, we’re always grateful for your work looking after our loved ones.