Insights

The latest Construction Sector Report by our colleagues at MHA shows a stark divide in today’s Construction sector, between those who were able to capitalise on the opportunities presented by COVID-19, and those who struggled to finance their way through lock down. To...

If you are planning any significant capital expenditure you should ensure it is before 31 December 2020 to maximise tax relief. The current £1m Annual Investment Allowance (AIA) limit is only available for qualifying expenditure incurred in the two calendar years -...

Organisations that have overclaimed a Job Retention Scheme grant and have not yet notified HMRC should act now. You must notify HMRC by the latest of either: 90 days after the date you received the grant you were not entitled to 90 days after the date you received the...

Two new initiatives operated by Invest NI open today. Digital Selling Capability Grant The £1 million Covid-19 Digital Selling Capability Grant will provide a maximum grant of £20,000 to eligible small and medium-sized retailers to support 50% of eligible costs....

Covid-19 Recovery Revitalisation Scheme The Department for Communities and the Department of Agriculture, Environment and Rural Affairs have announced an investment of £11m to support organisations in their economic recovery from the impacts of Covid-19. The funding...

The temporary reduction in VAT for hospitality is a welcome move, but as always businesses should beware of the details. The changes in the VAT rate designed to help hospitality businesses should prove an incentive for customers to spend, whilst helping businesses...

During the 2020-21 rating year most business ratepayers in Northern Ireland will benefit from a 4-month rates holiday and many from a 12-month rates holiday as part of the NI Executive’s support measures offered to businesses as they deal with the impact of COVID-19....

On 31 July, the Government released an outline paper with more detailed guidance on the Job Retention Bonus announced by the Chancellor as part of the 'Plan for Jobs' on 8 July. The Job Retention Bonus is designed to provide additional support to employers who keep on...

In the heat of a financial crisis, such as the one we are presently going through, companies must focus on their financial viability. When businesses run into financial difficulties and need to reduce costs, the knee-jerk reaction is often to consider the scope for...

The Self-Employment Income Support Scheme allows those in Partnerships as well as Sole Traders that have been adversely affected by COVID-19 to claim a taxable grant of 80% of their average monthly trading profits, paid out in a single instalment covering three...