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November 2020

HMRC Confirms Virtual Christmas Parties Can Be Tax Exempt

HMRC has confirmed that the annual parties exemption now also applies to the costs associated with virtual parties and festivities in the same way that it would for traditionally held parties.

AIA to remain at £1 million to stimulate investment

HM Treasury has announced that the £1 million tax break to support business confidence is to be extended. 

Changes to support measures for businesses impacted by COVID-19

With the second lockdown now in place across England, and many businesses required to close, the government has announced changes to the support measures available including the Job Retention Scheme (Furlough Scheme), Bounce Back loans and local council grants.

Finance options for businesses affected by the Coronavirus

There are a number of financing options available to businesses who have been negatively impacted by the coronavirus pandemic. 

83% of Owner Managed Businesses think tax increases should be delayed until recovery well underway

•    Early tax rises would hit business and consumer sentiment •    Businesses also want assistance targeted at those that need it – more means checking and anti-fraud checks  

COVID-19: Furlough scheme extended and further support announced

The Coronavirus Job Retention Scheme (CJRS), (which was due to end at the end of October), has been extended for another month with employees receiving 80% of their current salary for hours not worked up to a maximum of £2,500.