Welcome to our round up of the latest business and Covid-19 news for our clients
Please contact us if you want to talk about how these updates affect your business. We are here to support you ,and much more useful information is on our website www.shaikhandcoaccountants.com
Providing information for business rates revaluation 2023
The Valuation Office Agency (VOA) is contacting businesses to request information to support the current revaluation of business rates in England and Wales.
Once ratepayers receive a request via letter, they need to go online and submit their up-to-date details. For some specialist property classes you will be asked to provide your information by email instead, so once you receive a request please follow the instructions on your letter.
The information ratepayers submit is used to set rateable values, which are in turn used to calculate business rates. To ensure your business rates are accurate and reflect the current property market as well as the impact of the coronavirus (COVID-19) pandemic, VOA are requesting that information is submitted as soon as possible
Three year carry back of company losses
An extended loss carry back was announced at Budget 2021 which enables companies (and individuals) to make claims to carry back losses for a further 2 years than previous rules allowed
This temporary extension applies for losses arising in company accounting periods ending April 2020 and 31 March 2022.
Moving goods between the UK and EU
If you move goods between the UK and countries in the EU, you need to follow new customs and tax rules. HMRC has set up the Customs and International Trade helpline on 0300 322 9434. The helpline is open from 8am to 10pm Monday to Friday and from 8am to 4pm at weekends.
Apply for a grant to help small and medium-sized businesses new to importing or exporting
The SME Brexit Support Fund could give you up to £2,000 to help with training or professional advice if your business has up to 500 employees and no more than £100 million annual turnover.
You can use the grant for training on:
- how to complete customs declarations
- how to manage customs processes and use customs software and systems
- specific import and export related aspects including VAT, excise and rules of origin
It can be used to help you get professional advice so your business can meet its customs, excise, import VAT or safety and security declaration requirements.
Your business must:
- be established in the UK
- have been established in the UK for at least 12 months before submitting the application, or currently hold Authorised Economic Operator status
- not have previously failed to meet its tax or customs obligations
- have no more than 500 employees
- have no more than £100 million turnover
- only import or export goods between Great Britain and the EU, or move goods between Great Britain and Northern Ireland, if you already import or export goods from or to a non-EU country you are not eligible for his grant
Your business must also either:
- complete (or intend to complete) import or export declarations internally for its own goods
- use someone else to complete import or export declarations but requires additional capability internally to effectively import or export (such as advice on rules of origin or advice on dealing with a supply chain)
We are on a mission to help our clients businesses succeed, we are easy to contact 01892 552696, there is much more detailed information on our website www.shaikhandcoaccountants.com