• Covid-19 Tax Updates

Covid-19 Tax Updates

All businesses will be impacted in some way by the ongoing COVID-19 outbreak.  We are working with clients to find practical solutions to protect staff and to preserve the underlying businesses in these very difficult and trying times.

We will update the below information as appropriately in the coming days/weeks.

The BDO NI Tax team contact details are listed in the below document should you have any queries.

Tax-team-covid-19.pdf

 

UK Businesses Trading Internationally

On Saturday 21st March, the government updated its advice for businesses delivering goods and services abroad that have been impacted by the coronavirus outbreak. The Department for International Trade can support businesses by providing assistance with customs authorities to ensure smooth clearance of their products; and offering advice on intellectual property and other issues with business continuity.

The guidance includes what financial support is available for businesses trading internationally.

Link to guidance here.

 

 

Other tax considerations include: 

Potential tax issues arising from international travel restrictions

VAT - things to consider in light of COVID-19

Early Loss Carry Back Claims

COVID-19 and the impact on UK tax residence

Time to Pay Support Guide

R&D Tax Credits and Covid-19

R&D Impact of CBILS

Enhancing cash flow through Capital Allowances

Employee Share plan and executive incentive points to consider

Option to tax on land and buildings – new (temporary) time limit and rules for notifying HMRC