Tax and Financial Management
The VAT Retail Export Scheme to end
In a blow to UK retailers, HMRC has announced that from 1 January 2021, the VAT Retail Export Scheme will cease to be valid in the UK.
Navigating the Post-Covid Tax Landscape
Covid-19 has significantly accelerated changes to the tax landscape. Tax jurisdictions may be seeking to pay for Covid-19 costs by increasing the tax take and we have seen initial discussions on this in the press over the last few weeks.
Corporate tax residence issues arising from remote working
The Covid-19 pandemic has forced many people to work remotely from locations they may not have expected. International businesses have had to reconsider, and in some cases revolutionise, the way they work and to review their traditional supply chains to ensure continuity. Increased use of technology and remote working is changing business practices at a fast pace in these unprecedented times.
Covid-19: The Questions your bank will be asking
When talking to your bank about lending options, it's important to be prepared for the questions they may ask.
Corporation Tax Payments & Cash Flow
With the projected impact of Covid-19 on the global economy and the consequential impact on businesses, it is likely that many businesses will struggle with cashflow. There are several actions that large corporates who are generally required to pay their Corporation Tax via Quarterly Instalment Payments (QIPs) can do to manage this impact, especially for those with upcoming payments due on 14 April.
Protecting Cash Flow in your Business
Whilst the Covid-19 situation is unprecedented, experience of past economic disruption, such as the 2008 financial crisis, does provide some insight into what is likely to happen in terms of Cash Flow.
Collecting Cash & Managing Cashflow
Cash and overheads will quickly become critical if operations and output are impacted, while staff and outgoings remain fixed.