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Chancellor's statement -VAT cut to 5% for hospitality -No Stamp duty up to £500,000 -£1,000 bonus for every furloughed E'ee kept on -Wages for new young employees for six months - Eating out vouchers - Vouchers for home insulation - Apprenticeship bonuses - Eating out vouchers

Big Four audit practices face separation test accountingweb.co.uk/business/finan…?

The government confirmed that the next step in Making Tax Digital is to bring businesses and landlords reporting their income via self assessment into MTD from April 2023. So businesses and landlords earning over £10,000 per year have to start planning soon. Call CVH for more.

HM Treasury From 1 November, for the next six months, the Job Support Scheme will protect viable jobs in businesses who are facing lower demand over the winter months due to Covid-19.

HM Treasury The Self-Employment Income Support Scheme extension will support viable traders who are facing reduced demand over the winter months, covering 20 per cent of average monthly trading profits via a government grant.

Business loans Bounce Back Loans will be extended from six years to 10 years CBILS lenders will also be able to extend six years to 10 yrs Deadline for the loan schemes extended to end of year Choice interest only payments for six months and can suspend repayments for six months

Taxes The 15% VAT cut for the tourism and hospitality industries will be extended to 31 March 21 Deferred VAT bills will be able to be paid back in 11 smaller interest-free instalments Self-assessment income tax payers will be able to defer tax payments to January 2022

Job Support Scheme tweaked from 1 November 2020 Under the latest variation to its job support initiative for businesses required to close temporarily due to Covid-19 protective measures, the government will pay two thirds of each employee’s salary. Call us for more details

The Furlough scheme (CJRS)- will remain open to December, with employees receiving 80% of their salary for hours not worked, up to a max £2,500. Businesses required to close in England will be eligible for grants of £1334 to £3000pm Mortgage pay holidays will no longer end today

SEISS grant is uplifted for November to 80%, so with the 40% for December and January, the total of the third grant is 55% of trading profits with a max of £5,160. gov.uk/government/new…

Government extends Furlough to March 2021 and increases the next self-employed income support grant will also increase from 55% to 80% of average profits - up to £7,500 Call CVH for more details.

If you deferred VAT between 20 March and 30 June 2020 and still have payments to make, you can: - pay the deferred VAT in full on or before 31 March 2021 - opt in to the VAT deferral new payment scheme when it launches in 2021 - contact HMRC if you need more help to pay

HMRC will not waive late filing penalties or extend the 31 January deadline, but it will accept pandemic related disruptions and agent delays as a reasonable excuse and will also extend the period to appeal a penalty. Call us now if you need any help.

Businesses in the retail, hospitality and leisure sectors are to receive a one-off grant worth up to £9,000, the Chancellor announced yesterday. In addition £594 million discretionary fund also made available to support other impacted businesses. Call us if you need any help.

Self Assessment penalty postponed to 28 Feb gov.uk/government/new…

Bounce Back Loans repayments delayed by six months BBLS borrowers can now tailor payments according to individual circumstances Businesses can delay all repayments up to 18 months and extend their loan term to 10 years

One in three accountants and tax advisers unregulated Be careful who you get advice from as it could cost you dearly!

Spring budget: - NI primary threshold up from £9,880 to £12,570 from Jul 22 - NI rates up by 1.25% at all earnings limits for 22/23 - Dividend tax increased by 1.25% for each category of taxpayer for 22/23 - Employment allowance up from £4,000 to £5,000pa from 22/23 Call CVH.

Looking forward to sponsoring this one! (I’ve found the Twitter password! Let’s hope I don’t mix up my accounts too often…)

Looking forward to this big game, a proper end of season tradition for us to be there and as usual we hope to #BringTheGoals ! See you later!