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June 2020

Moore (South) Partner with Receipt Bank

To continue to add to our pool of accounting and bookkeeping tools and resources and with a strong vision for the digital accounting world of the future, we have recently partnered with Receipt Bank to offer our clients the ‘optimize solution.’

COVID-19: EXTENSION TO PROTECTIVE MEASURES FOR COMMERCIAL TENANTS

On Friday 19th June 2020, the government announced a planned extension to the Coronavirus Act measures to protect commercial tenants and a new code of practice for landlords and tenants. The expiry of the current restrictions (set out below) is to be extended from 30th June 2020 to 30th September 2020, giving business tenants further breathing space to negotiate with their landlord.

Payment of Self Assessment tax in July 2020

Most taxpayers who are within self-assessment and who have an annual tax liability in excess of £1,000 will expect to have to pay tax at the end of January and July each year, and HMRC are currently in the process of sending out statements for the payment due at the end of July.

VAT WARNING – Reminder for business owners to reinstate their VAT direct debits

At the start of the COVID -19 crisis, the Government announced that changes were to be implemented to VAT payments that were due between 20th March 2020 and the 30 June 2020, to help businesses manage their cash flow.  In effect, this means that VAT could be deferred for quarterly accounting periods ending in February, March and April. 

The ESFA have published the Academy Accounts Direction for 19/20

The Academies Accounts Direction (AAD) 19/20 has been published by the ESFA, you can view the direction here. Also issued is the carbon reporting. This applies to large academy trusts. Please click here to access the guidance.

Moore (South) Group Coronavirus Working Policy

Going forward we need to have a documented approach to our working practices. The framework is to be applied group-wide but elements will be on an office by office basis with some things possibly for individuals. Our policy is intended to adhere to the Government guidance and to facilitate team members being able to work comfortably and effectively in their own home but also where necessary to be able to work safely and confidently in environments other than their own home.

Update on the Coronavirus Job Retention Scheme (CJRS)

As previously announced, the CJRS has been extended to 31 October 2020 and will be changed to a flexible arrangement from 1 July 2020 to allow employees to resume part-time working.

Self Employed Income Support Sheme Extended for 3 Further Months

No doubt due to recent lobbying by the press and other interested support groups, the Chancellor has extended the SEISS for a final three-month period to 31 August 2020.