Weekly Update
In this update, we have outlined guidance for eligible businesses that can begin to offer click-and-collect services from Monday 8 March. New construction VAT rules will come into effect next week and there is still time to get in touch with our Tax team at CavanaghKelly ahead of these changes.
VAT Opportunities and Pitfalls for Northern Ireland Businesses Post Brexit
CavanaghKelly’s Senior Tax Associate, Una McKearney, has co-written an article for Bloomberg Tax on the VAT opportunities and pitfalls for Northern Ireland businesses post Brexit. For more information on how to avail of Brexit VAT Opportunities, contact our Tax team today.
New Documentation Required for Moving Chilled Meats from GB to Northern Ireland
It was announced that from Monday 22 February 2021, Prohibited and Restricted (P&R) Export Health Certificates will be required for the movement of chilled meats entering Northern Ireland. These P&R Health Certificates will be required until the end of the EU Exit grace period, on 30 June 2021.
Deadline Approaching for New Construction VAT Rules
The new VAT rules for contractors and sub-contractors come into force on Monday 1 March 2021 and the construction industry should be in the final stages of preparing for these changes.
We have a full team of tax experts at CavanaghKelly, so please do not hesitate to reach out should you have any queries on this.
Limited Company Director’s Support Scheme
This application deadline has been extended to Thursday 4 March 2021 at 6pm. If you have not already applied and think that you may be eligible, use the link above to confirm eligibility and make an application.
NI Executive to Allow Contactless Click-and-Collect Services from Monday 8 March 2021
The Northern Ireland Executive has announced that click-and-collect services for certain retailers, can resume from 8 March 2021. This new three step arrangement announced by the Executive, will allow shops selling baby equipment, clothing, footwear and electrical goods to operate click-and-collect services.
For further information on guidance for contactless click-and-collect services, click here.
New Micro Food Business Investment Scheme Opening in March
The Department of Agriculture, Environment and Rural Affairs (DAERA) has announced that a £1 million capital grant scheme will open, to help existing micro food businesses upscale production for their products.
The scheme will open for expressions of interest from Monday 8 March 2021 for a six-week period.
For further information on the scheme and eligibility requirements, click here.
COVID-19 Micro-business E-Commerce Grant (MBEG)
Up to £5,000 to support 80% of eligible costs is available for micro retail businesses to grow their e-commerce sales. Businesses can access up to a maximum grant of £5,000 to support 80% of eligible costs (projects must have a minimum of £1,250 of eligible expenditure).
Applications close on Friday 12 March 2021. Find out if your business is eligible for the grant using the online eligibility checker. MBEG will be issued to eligible businesses on a first-come-first-served basis.
Flexible Repayment Options for Bounce Back Loans
Businesses within the UK that have availed of the Government ‘Bounce Back’ loans have the option to delay repayments for 6 months. This means that businesses can choose to make no payments on their loans until 18 months after they originally took them out.
‘Pay as you Grow’ repayment options will also enable borrowers to extend length of loan repayments from six to ten years.
The deadline for applications for Bounce Back Loans closes on Wednesday 31 March 2021.
For more details on Bounce Back Loans click here and the link above.
Deadline for Two Apprenticeship Incentive Schemes Approaching
The deadline for the Apprenticeship Return, Retain and Result Scheme (RRR) is approaching on Wednesday 31 March 2021. This scheme helps businesses to return apprentices to work who have been furloughed since April 2020.
To check if your business is eligible, click here
The New Apprenticeship Incentive Scheme deadline is also on Wednesday 31 March 2021. This incentive scheme is available to all employers to support the recruitment of new apprentices.
Eligible businesses could receive up to £3,000 for each new apprenticeship opportunity created from 1 April 2020 to 31 March 2021.
To find out more, click here.
Additional Help for Self-Assessment Taxpayers
The HMRC has announced that Self-Assessment customers will not be charged a 5% late payment penalty if they pay or make a Time to Pay arrangement by Thursday 1 April 2021. Therefore, this year, due to the impact of the pandemic, HMRC is giving taxpayers more time to pay or set up a payment plan.
The online Time to Pay scheme, allows taxpayers to pay their Self-Assessment tax bill in monthly instalments until January 2022.
Click here for more information.
Trader Support Service Webinar
The Derry/Londonderry Chamber of Commerce is holding an online webinar on Tuesday 16 March for members to keep up to date with the Trader Support Service, which provides guidance and helps businesses and traders to navigate the changes since the Northern Ireland protocol came into effect.
If you have any questions, please get in touch via email info@cavanaghkelly.com
Whilst every effort has been made by CavanaghKelly to ensure the accuracy of the information here, it cannot be guaranteed and neither CavanaghKelly nor any related entity shall have liability to any person who relies on the information herein. Information given here is for guidance only. Detailed professional advice should be taken before acting on any information contained herein. If having read the guidance here, you would like to discuss further; a member of our team would be pleased to help you.