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MMC Accounting News

By | October 2, 2020

Immediate change to CJRS usual hours calculations

HMRC has updated its guidance on how to perform usual hours calculations where employees come off furlough or flexible furlough partway through a claim period When flexible furlough was introduced from 1 July, there was much confusion about how...

By | September 30, 2020

VAT: Forms of evidence

Some businesses do not pay enough regard to the importance of what documents say or even to retaining those documents Accurate records are vital Keeping accurate records is half the battle of compliance, as is cooperating with HMRC’s requests...

By | September 28, 2020

Job Retention Bonus Scheme

The government is introducing a new Job Retention Bonus to provide additional support to employers who keep on their furloughed employees in meaningful employment, after the government’s Coronavirus Job Retention Scheme ends on 31 October 2020 The Job Retention...

By | September 7, 2020

Six ways to get cash flowing during the pandemic

It has been five months since the government announced its initial steps to try to limit the economic impact of coronavirus, including the Coronavirus Job Retention Scheme and the various business interruption loan schemes Managing cash outflows – raising...

By | September 4, 2020

IR35, Limited or Umbrella Company – which is best?

After deciding to make the move into the world of contracting, the first task is to decide upon the best business structure to work under; the two key business structures used by contractors are the limited company and umbrella...

By | September 1, 2020

Take action to prepare for leaving EU on 1st January 2021

While the government continues to negotiate a free trade agreement with the European Union, there are actions your business can take now to prepare for the end of the transition period after Brexit You can use the straightforward checker...

By | August 29, 2020

Business Rates Holiday

As part of emergency support measures agreed by the NI Executive in response to the COVID-19 crisis, most business ratepayers in Northern Ireland will benefit from a 4-month rates holiday and many from a 12-month rates holiday during the...

By | August 28, 2020

Company Accounts: Extension to filing deadlines

Companies whose filing deadline falls between 27 June 2020 and 5 April 2021 (inclusive) and who have not shortened their accounting period, the Regulations extend their filing deadline by 3 months. This extends filing deadlines to twelve months after...

By | August 13, 2020

Applying for the second SEISS grant

Applications for the second grant will open from 17 August. HMRC will work out your eligibility the same way as the first grant. If you make a claim for the second grant, you will have to confirm your business...

By | July 31, 2020

MTD VAT – Are you signed up?

HMRC have now started writing to those businesses that have not signed up with a further reminder