FULLER ACCOUNTING NEWS

BOUNCE BACK LOAN SCHEME

GOVERNMENT BACKED BOUNCE BACK LOAN SCHEME FOR SMALL BUSINESSES On the 27th April 2020 the Chancellor announced the implementation of a new Loan Scheme aimed to ease the financial burden on small businesses caused by the Covid-19 pandemic The Bounce Back Loan scheme...

Covid 19

Covid-19 Coronavirus Pandemic crisis. The news is full of details about the Corona Virus and measures that the Government has put in place. The self-employed have access to some assistance, and I have listed below what the government has made available to businesses....

Tax Rates 2020/2021

Income Tax allowances 2020/2021 Personal Tax Rates 2020/2021 Starting rate for savings income 0% Starting rate limit (savings income) £5,000 Basic rate band 20% £0 – 37,500 Higher rate band 40% £37,501 – 150,000 Additional rate band 45% Over £150,000 Personal...

End of the tax year

Self Assessment 2019 The UK appears to be fast approaching Brexit, but don’t forget that 05/04/2019 is also an important date! This is the end of the tax year. A letter has been sent out to each self-assessment client to request all the required information,...

Am I in business?

What do I need to consider? Am I in Business? If you started trading in the period from 6th April 2018 to 5th April 2019 or before, then you need to consider if you should be registered for self-assessment.   What could class as trading? ·        An intention to make...

Making Tax Digital for VAT

From April 2018, VAT registered businesses with a taxable turnover above the VAT registration threshold, currently £85,000 sales revenue in any 12 month period, must keep VAT records digitally and file their VAT returns using MTD compatible software. HMRC will require...

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