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October 2020

TEMPORARY VAT EXTENSION ON PPE TO END

The decision has been made to charge full VAT on PPE despite the current VAT exemptions for other essential zero rated items including motorcycle helmets, cycle helmets and protective boots.  

Isle Of Wight Macmillan Coffee Morning

The Isle Of Wight team managed to raise a fantastic £500 during their Macmillan Virtual Coffee Morning Fundraiser. 

New financial support measures announced

In his third statement delivered on 22 October, the Chancellor has significantly revised previously announced measures to help protect jobs across the UK whilst the country faces a fresh spike of the virus and a winter of uncertainty.

Company voluntary arrangements ("CVA") - A valuable restructuring tool in a post pandemic world

CVA’s are often associated with large multi-site retailers seeking to restructure shop-lease portfolios however they are much more than this. 

Changes to the job support scheme

On Friday 9 October, the Chancellor, Rishi Sunak announced an extension to the Job Support Scheme (JSS). The expanded scheme will include additional support for employees of businesses that are forced to close because of local or national lockdown measures. 

Tax Diary October/November 2020

1 October 2020 - Due date for Corporation Tax due for the year ended 31 December 2019.  

Smart Data laws on the way?

Consumers and small businesses will benefit from better deals and savings through innovative services, thanks to new Smart Data laws proposed by government.

Are you recording customers’ contact details?

In a press release issued 10 September 2020, the Department for Health and Social Care has reminded affected businesses that they have a legal obligation to record the contact details of their customers, visitors and staff.

Additional grant aid for local lockdown businesses

Last month the Treasury announced further support for businesses adversely affected by lockdown in local areas to control local outbreaks.