Covid 19 – Help for small businesses

The Chancellor has set out a package of temporary, timely and targeted measures to support public services, people and businesses through this period of disruption caused by COVID-19.

Please read the full details here https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses

Advise from HHBA member Paula Tomlinson at On the Spot Accountants regarding a top Tax Tip:

Practical steps to take if you have reduced sole trader/partnership income due to the Coronavirus?
As we’re near the end of a tax year, send your tax return in soon after 6 April 2020 showing reduced profits and you should
generate a refund from your January payment on account and pay a lower second payment on account in July.

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