The extension to the Furlough scheme (under the Coronavirus Job Retention Scheme / CJRS) has been received with mixed feelings of relief as well as frustration. The government’s stance has been hailed to be as ambiguous as ever for hadn’t the chancellor in September spoken against furlough as being ideal thanks to its instance of holding employees on no longer v...

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December 09, 2020

The disturbance created by this pandemic has been very challenging for all the businesses. And it’s crystal clear that associated problems with Covid-19 will be there for longer than expected. By taking appropriate action to support your clients and offer them valuable service will not only help you to be trusted accountants but also put you in their trusted advisers ...

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December 07, 2020

Brexit was definitely going the affect VAT accounting. Probably there is no extension and the transition period will end on 31st December 2020. From 1 January 2021 we need to account for VAT as per the new guidance. Now the simplified rules will not be applicable for Great Britain. There is no border between Northern Ireland and Ireland. While Ireland is an EU member state ...

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December 04, 2020

The pandemic has caused large-scale loss of lives and severe human suffering worldwide. It is the largest public health crisis in the living memory of mankind, which has also created a major economic catastrophe. Production was at halt which affected many countries globally, a fall down in consumption and confidence, and negative response of stock exchanges to heighten the ...

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December 02, 2020

Certain businesses have different VAT rates to take into account which demands more carefulness compared to those having a single VAT applicable. Building projects can have various VAT rates leading to complicated VAT calculations. As a result of different rates being applicable there are chances of a mistake.

Commercial properties are not a problem here as all th...

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November 30, 2020