Straight from the horse’s mouth

The Coronavirus Business Interruption Loan Scheme now live

23rd March 2020
The Chancellor announced that the British Business Bank will manage the Coronavirus Business Interruption Loan Scheme (CBILS) which is available from today, 23rd March 2020 and will initially run for 6 months. More details can be found on the British Business Bank website However here is a short summary of the key features: •   Through...

COVID-19 – Job Retention Scheme and Income Support Measures

21st March 2020
Following Chancellor Rishi Sunak’s announcement yesterday, we present a summary of the significant new supportive measures being instituted. Coronavirus Job Retention Scheme – what it means for employers The UK government has committed to cover up to 80% of salary (up to a maximum of £2,500 per employee, per month) payable to employees that are...

COVID-19 – Practical steps to help every business

20th March 2020
Few businesses could ever have imagined, let alone made plans for, the potential impact of a massive epidemic such as the current coronavirus crisis. As accountants, we want to provide you with some practical steps that you can take. Keep in touch Keep in touch with your accountant. The sooner that they are made aware...

COVID-19 Update

18th March 2020
Whilst we deal with the uncertainty of the rapidly changing coronavirus (COVID-19), we wanted to update you on the precautions we are taking at JRW to ensure a safe environment for all of our clients and staff. We want you to know that we are taking all possible measures to ensure that the current Government...
JRW Budget Summary Document March 2020

Budget Summary March 2020

12th March 2020
Following yesterday’s announcements we have attached our Budget Summary Document which is downloadable in pdf format JRW Budget 2020. If you would prefer a printed copy please just let us know and we will send it to you directly. We will, of course, be happy to discuss with you any of the points covered in...
Tips and Tax

Tips and tax

2nd March 2020
Are you and your staff handling tips correctly? If you operate a café or restaurant, your employees will receive tips from the majority of customers. But as a business owner, what do need to do regarding income tax on these tips? Head of our Payroll Team Joanne Gibson explains. The starting point is to confirm...
Tax deductions for giving away goods

Tax deductions for giving away goods

2nd March 2020
Your company is about to support a local charity. This will include donating the use of company equipment and employees’ time, as these resources will partly be used for non-business activity, will the related costs be tax deductible? Usually, if your business incurs costs in connection with making a gift, it won’t be entitled to...
Vat on sales to account customers

Q&A – Can sales to account customers be excluded?

2nd March 2020
Q. Within my building supplies store, we account for VAT by using a point of sale retail scheme based on our daily gross takings figures. We have quite a lot of account customers who buy goods from the shop but don’t pay until 30 or 60 days later. We include the sale in the till...
VAT claim for a personally owned van

Q&A – VAT claim for a personally owned van

2nd March 2020
Q. I’m the only director of my company and I own all its shares. I bought a van in my name but I intend to use it in the company’s trade. Can the company reclaim the VAT included in the purchase price? A. If the van was purchased and used privately or for a different...
tax-free perk for being the boss

Q&A – A tax-free perk for being the boss?

2nd March 2020
Q. A friend has told you that he and his wife are taking a tax-free luxury weekend away on the company. Apparently, because the business has been running a long time HMRC allows this. Is this something you can take advantage of? A. Tax rules include a surprisingly long list of benefits in kind which...