It’s the weekend. Thank Crunchie (other chocolate bars available).
And it’s another week of moving towards recovery, with steps in the right direction.
Isn’t hindsight wonderful ? If, a year ago we’d have seen us only now emerging a year later, none of us would have believed it. Had we invested the cost of a year’s worth of lost haircuts in Bitcoin a year ago we’d now be able to make a non essential journey in a new Tesla (other brands available) with the proceeds.
And yet here we all are, a little wiser, a little greyer, a little crazier...
Our dogs have learned lots with our girls home schooling. Only yesterday I asked Buster what ((88+12) divided by the square root of 4) minus 50 was and he said nothing.
Despite everything though, some thing are as normal. The earth still turns, spring nights are still unexpectedly cold, politicians still lie. And you’ve still got a Positive Accountant.
On that note, what are my positives ?
1. HMRC aren’t chasing unpaid tax
Whilst some things don’t change, one particular aspect of life has changed unrecognisably - HMRC are not chasing unpaid tax. This is especially true for corporation tax.
The reason for this is, of course, that their political masters have lent on them and told them not, to due to the pandemic.
But this is a bit of a burger really, in that businesses willing and able to pay their taxes aren’t getting the reminders that they have become used to. It’s worth a quick check, for companies with year ends of more than nine months ago, have you paid your corporation tax ?
2. SEISS Grant round 4 is launched
The self employed have become used to rounds 1-3 of the COVID support grants. Round 4 is now with us
The maths is on a similar basis to the previous grants, an average of three months profits, capped at £7,500. I can lend you Buster if you need a hand with it....
There are, though, some significant differences:-
(a) The calculation is based on 2019/20 tax returns (previous claims have been based on 2018/19). This may give a different answer to previous claims. (There are ways of averaging though)
(b) This means that the newly self employed (commencing 2019/20) will be eligible, they weren’t before.
(c) this time, there must reasonably be a belief that there will have been a ‘significant reduction’ in trading profits due to ‘reduced business activity, capacity, demand or inability to trade due to coronavirus between 1 February 2021 and 30 April 2021’. No evidence needs to be provided but HMRC expect it to be available if asked.
As before, the claim needs to be made by the taxpayer - I’m happy to advise but can’t make the claim for you.
3. We have beer....
Actually, I’ll clarify that. We have a new client who has recently taken its first steps towards becoming the Amazon of Craft Beer.
I’m always keen to help new ventures along the way so I’ll let Sarah of TwistedHops tell you more about them...
“Twisted Hops Online Craft Beer Shop stocks the best craft beers from East Anglian independent microbreweries.
All the beers we stock have been hand picked and quality checked so we know we only have the freshest and tastiest beers available.
We have a large selection of styles including Ales, Pale Ales, Saisons, Sours, Porters and Stouts.
You can buy a selection of cans, one of our multipacks, craft beer boxes, or make them into a beer lovers gift by adding a branded tasting glass and gift note.
Our father’s day gift packs have just gone live for pre-order, and have limited availability.
We are very happy to put together bespoke boxes if you contact us with your requirements or preferences.
We offer free delivery locally around Harleston and the Waveney Valley, and a fast UK secure delivery service. Sign up to our mailing list for a 10% discount off your first order.”
See https://twistedhops.co.uk for more details...
Enjoy your weekend, staying safe and staying positive.