Business Interruption Insurance Tax Implications

In January, the Supreme Court ruled in favour of small businesses whose insurance companies have refused to pay out for business interruption losses as a result of the pandemic. In the following article we look at the tax implications of these pay-outs. Business interruption insurance provides cover for losses as a result of events that…

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Online Selling Business

Lockdown restrictions have forced many businesses to close temporarily meaning many people have been in search of new ways to generate some additional income. Selling goods or clothes on sites such as eBay and Depop offers the opportunity to raise some much needed cash in these difficult times. However, what are the associated tax implications…

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Blue and White Baubles hanging from christmas tree

HMRC has given the go-ahead for tax-free virtual Christmas parties. It would appear the taxman isn’t scrooge and is in fact ready to spread some festive cheer! No one would have ever imagined that we’d currently be researching Christmas Party ideas to take online but following the government’s latest announcement it appears to be the…

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Establishment participating in eat out to help out scheme

The Eat Out to Help Out scheme was launched in August to help boost the economy and support the hospitality industry. Under the rules of the scheme, businesses were permitted to discount their customers’ bills by up to 50% per diner, up to a maximum of £10 per head.  Participating establishments could run the scheme…

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Business Support Guidance

Government Measures to Support Businesses. Offering support to business owners and their business is at the core of everything we do at The Fabulous Group and during these unprecedented times, it could not be more true. We understand the complexity of challenges being faced by businesses and therefore we must support one another more than…

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Government announces tax and spending plans in Spring Budget

Yesterday, whilst much of the country was busy stockpiling pasta, toilet roll and hand sanitiser, the Chancellor Rishi Sunak delivered his first Budget in the House of Commons under the new parliament. Sunak addressed the coronavirus outbreak in his opening speech and recognised the severe anxiety felt by many businesses about the possible impact of…

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