Premier Accounts Blog

New measures announced in economic update. Since the Budget in March, businesses have seen a stream of different support schemes and policies announced to help them manage the financial impacts of the coronavirus lockdown. When Chancellor Rishi Sunak stood in the...

Managing and planning during COVID-19. Even among those who follow good tax-planning practice and maintain forecasts running several years forward, it is unlikely that many foresaw the dramatic end to the 2019/20 tax year. With the arrival of COVID-19 and the...

The UK’s economy experienced the largest monthly contraction on record in April 2020, shrinking by 20.4%.  The sharp fall in GDP came as the UK spent its first full month in lockdown to try and halt the spread of COVID-19. The Office for National Statistics (ONS)...

How to pass on wealth to the next generation. There are many ways to reduce or eliminate the inheritance tax payable on your estate without using trusts.  But for some, especially if you are very wealthy, they may not be enough. For others, the control that...

What to expect from tax probes in 2020/21. After temporarily pausing tax investigations as COVID-19 business support measures rolled out earlier this year, HMRC has restarted probes into businesses and individuals’ tax affairs. The Revenue has also started to direct...

It’s safe to say Chancellor Rishi Sunak did not expect to be delivering the first official fiscal statement less than four months after his maiden Budget speech back in March, but here we are. The economic impact of COVID-19 has resulted in the UK’s debt-to-GDP ratio...

Summary of the measures The Self-employment Income Support Scheme (SEISS) will support self-employed individuals (including members of partnerships) who have lost income due to COVID-19. Individuals can claim a taxable grant worth 80% of their trading profits up to a...