Limited Company or Sole Trader?

While many small businesses are struggling during the Covid-19 pandemic, it seems likely that, once it’s all over, there could well be a rise in the number of businesses being launched. For some people, particularly those who have been furloughed, it has given them some precious time to think about that business idea that’s been […]

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Self Employment Income Support Scheme

The Self Employment Income Support Scheme (SEISS) is available from Wednesday 13th May, a little earlier than originally planned. HMRC have started contacting eligible self employed workers in the past couple of weeks and are now inviting them to use the online checker tool – this will quickly confirm a) if you are eligible for […]

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Financial Assistance Update / Business “Bounce Back” Loans

The online portal being used to handle Coronavirus Job Retention Scheme claims was opened on Monday 20th April and we are pleased to confirm that the first applicants have now successfully received their furlough grants from the Government. It has also been announced that this particular scheme is now available until 30th June 2020, extended […]

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New CGT Reporting Process

According to the property website Zoopla the number of homes sold in the UK is expected to fall by 60% in the next three months. There was a 40% drop in housing enquiries for the week to 22 March, the week before the lockdown, and new sales agreed fell by 15% on the previous week. […]

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Why does the tax year begin in April?

Monday 6 April marks the beginning of yet another tax year and if you’re running your own business or have to complete a self-assessment tax return for any reason, it’s a date which seems to come around more quickly each year. In the current climate, when many of us are having trouble working out what […]

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Covid-19: Director-Only Limited Companies

The Government has now confirmed that director-only limited companies can indeed qualify for furlough status. Directors, whose work has dried up, can only carry out work that is necessary to fulfil their statutory obligations, rather than their normal day-to-day work. If the company has ceased trading completely, which will be common place for many one-person […]

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Lewis & Co Office Update

Following the Prime Minister’s statement on Monday evening, we have made the decision to work from home for the next few weeks.

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IR35 Tax Reforms Delayed

Amid the crisis being caused by Covid-19, the Government has announced that the IR35 tax reforms are being pushed back by one year…

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Balancing the Budget

A few months ago the then Chancellor Sajid Javid set Wednesday 11th March as the date for his first Budget and the first since the general election…

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