Following the Chancellor’s Economic Statement last week, Streets Chartered Accountants has released a special update providing further details on the key announcements made.
In particular, the firm focus on the introduction of the ‘Eat Out to Help Out’ scheme – what those businesses looking to introduce it need to do and consider the impact and management of the lowering of the rate of VAT for those in the Hospitality, Leisure and attractions sector.
It also provides further information and guidance on the changes to Stamp Duty on house sales, a move aimed at kickstarting the property market.
With the deadline of 31st July for the second tax payment on account due, it provides updated HMRC guidance which includes confirmation that everyone within Self-Assessment is eligible to defer the payment, and not just those who are self-employed.
Looking to news its own news, the firm have announced that pre-lock down plans to open a new office in Northamptonshire have come to fruition and it is looking forward to looking after clients already in the county but also welcoming new clients to the office.