October 2020 - Central Accountancy

The annual investment allowance (AIA) was increased from its usual level of £200,000 to £1 million for the two-year period from 1 January 2019 to 31 December 2020. As this period draws to a close, it may be prudent to review planned capital expenditure, particularly where this has been put on hold due to the…

Paying back deferred VAT

9 October 20209 October 2020Cris Cox

At the start of lockdown, the Government announced a number of measures to help businesses weather the pandemic. One of those measures was the option for VAT-registered businesses to defer VAT payments that fell due between 20 March 2020 and 30 June 2020. This window meant payment of VAT for the following quarters could be…

Month: October 2020

Annual investment allowance – Beware the transitional rules

Paying back deferred VAT