Premier Accounts Blog

HMRC has issued a last call to around 250,000 traders, highlighting urgent actions to take if they wish to continue trading with the EU from 1 January 2021.  The UK will leave the EU single market and customs union when the Brexit transition period comes to an...

Planning ahead to boost your business’s resilience. During what would normally be the busiest period of the year for businesses in retail, hospitality and other sectors, many will now be keeping a close eye on their cashflow as they deal with the impacts of COVID-19....

Reporting and paying within 30 days.  Earlier this year, a new rule requiring capital gains tax on UK residential property to be reported and paid to HMRC within 30 days kicked in.  This ushered in another change to tax rules affecting residential property...

Chancellor declares “economic emergency”. Had everything gone to plan this year, the Chancellor would have been delivering his Autumn Budget speech. Instead, Rishi Sunak declared an “economic emergency” alongside a slimmed down spending plan to see him through until...

Entrepreneurs’ relief is no more (in name at least). Last March, one of the headline-grabbing measures announced in what will be the only Budget speech of 2020 surrounded what we knew as entrepreneurs’ relief. The relief was designed to be an incentive for...

Chancellor Rishi Sunak has promised to “balance the books” in a bid to plug a £208 billion hole in the UK’s public finances caused by COVID-19. In September, Sunak postponed Autumn Budget 2020 and last month the Chancellor suggested tax hikes could be around the...

The self-employed can claim Government support of up to 80% of profits during the initial month-long lockdown in England, Chancellor Rishi Sunak has confirmed. Like previous tranches, the third taxable grant available through the self-employed income support scheme...

The Government has extended the furlough scheme for employers until 30 November 2020, as a second lockdown in England looms to slow the resurgence of COVID-19. Hours before the initiative was due to close on 31 October 2020, plans for the job support scheme to start...

Up to £3.5 billion in payments made to employers under the furlough scheme might have been fraudulently claimed or paid in error, HMRC has said. The scheme was launched at the height of the coronavirus pandemic in April 2020 and paid 80% of furloughed workers’ wages,...

New support measures for businesses and workers have been announced in the face of a rising tide of coronavirus. A job support scheme will replace the furlough scheme from 1 November 2020, initially until 30 April 2021. Government and employers will subsidise the pay...