The Chancellor, Rishi Sunak, delivered his ‘Summer Economic Update’ on Wednesday 11 March 2020, which sets out the UK Government’s masterplan to bounce back from the Covid-19 pandemic as lockdown starts to ease and businesses look to reopen.
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You, as the employer, can purchase a bicycle through your Limited Company for the use of an employee. The cost of a bicycle and associated safety and security equipment will be allowable against company taxable profits and any VAT can be reclaimed, and should the below conditions be met it will also qualify as a tax-free benefit to the employee.
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The travel industry has certainly been hit hard especially for independent travel consultants. We’ve spoken to one who started her travel business alongside a contracting role. Kate Holroyd from Strawberry Holidays specialises in tailor-made travel experiences for busy families and businesses. She’s supported clients as they arrange surprise family trips to Orlando, a solo trip across the US, and a European Christmas Market trip for a senior management team, just to name a few.
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We hope you and your family are keeping well and safe. The SME Accounting team has been working very hard to ensure that all your queries are answered and you are provided with the support you need during these challenging times.
Please find below an update on financial support during the Coronavirus pandemic and FAQs on Coronavirus Job Retention Scheme (CJRS) and furlough.
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We’re not here to pass judgement, we’re all doing things a little differently, but we did want to share some links to resources that may be useful to you now, but also something you may like to do or share with the children when things “return to normal”.
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