Coronavirus business support schemes – how to account for grant income

By |2020-04-30T09:02:29+01:00March 30th, 2020|

Many of the measures announced by the government to help businesses during the Covid-19 (Coronavirus) pandemic involve grant payments to business owners. But how do you account for grant payments, and what taxes are due? It is important to understand the accounting treatment needed, and indeed whether income is actually a grant, be that from [...]

Can Limited Company contractors furlough themselves?

By |2020-04-30T09:01:56+01:00March 27th, 2020|

Under the Government’s Coronavirus business support measures announced this week, it has been indicated that some Limited Company contractors may be covered by the ‘Job retention scheme’ and therefore can furlough themselves if unable to work due to Covid-19. There is a distinction in law between a director with a service contract and a director [...]