New £20m Professional Services Grant For SME’s

Small businesses in England are able to benefit from a new tranche of government grants designed to help them recover from the impact of coronavirus through professional advice – including guidance from accountants. The scheme will dispense grants of between £1,000 – £5,000 to small and medium-sized businesses from an overall fund of £20m to help […]

Coronavirus Business Interruption Loan Scheme (“CBILS”) – Imminent Closure

The Coronavirus Business Interruption Loan Scheme (CBILS) is currently set to close for applications at the end of September 2020. Whilst formal Government announcements are still to materialise, it is our understanding that the Scheme will close for applications this month – and that Banks are working upon the understanding that they will need to […]

Coronavirus Job Retention Scheme – HMRC Compliance Reviews

HMRC has stepped up its compliance activity on Coronavirus Job Retention Scheme grants, writing to employers who may need to repay some or all of their claim. We understand that HMRC has been risk assessing the Coronavirus Job Retention Scheme (CJRS) applications in real time but is now starting the next phase of its compliance […]

The Self-Employment Income Support Scheme – Second Stage Support

Millions of self-employed people whose livelihoods continue to be affected by coronavirus are now able to claim a second payment of up to £6,570 from today. If you want to know more detail about the Scheme, follow this link: https://www.gov.uk/government/news/million-of-self-employed-to-benefit-from-second-stage-of-support-scheme   Introduction If you are self employed, and deemed eligible (see below), you are now […]

Barrons is reopening…

As the UK is starting to take steps towards “Business as usual”, here at Barrons we would like to let you know what we are doing to keep both you and our staff safe. We now require you to let us know, in advance, if you are visiting the office, this includes dropping off/collecting records. […]

CGT on UK Residential Property

What has changed? New and significant reporting requirements were introduced 6th April 2020 where a UK resident individual is due to pay CGT on the disposal of a UK residential property. A new standalone return will need to be filed online with HMRC, together with a CGT payment on account. Both of these are due […]

Coronavirus – VAT Returns For Q/e 31 May 2020 & M/e 31.May 2020

As part of the government’s support for businesses during COVID-19, HMRC gave businesses the option of deferring their VAT payments if they were unable to pay on time, without incurring late payment interest or penalties. Payment of VAT falling due between 20‌‌ March and 30‌‌ June 2020 was capable of deferral until 31‌‌ March 2021. […]

Coronavirus – Self Assessment Payment on Account Deferral

As part of the government’s support for businesses during COVID-19, HMRC are giving taxpayers the option to defer Income Tax payments on account due in July 2020. HMRC will not charge interest or penalties provided that the deferred payment is made on or before 31 January 2021.   Am I Eligible? The scheme is open […]

The Coronavirus Local Authority Discretionary Grant Fund

The Government last week announced a further Grant Fund Scheme, to be known as The Local Authority Discretionary Grant Fund. This scheme will help support small and micro businesses that are not eligible for other grant schemes Apply for the coronavirus Local Authority Discretionary Grants Fund   What is The Discretionary Grant Fund? Small and […]