What Tax Issues May I Need to Think About After COVID-19?

COVID-19 has impacted individuals and businesses in so many ways in 2020. Consider the following questions:

  • Do you have unique tax concerns because of COVID-19?
  • Did you lose your job?
  • Did your business shut down or have to lay off employees?

There are tax needs looming because of COVID-19. A reliable tax advisor best answers tax implications to all these questions.

So, if you are looking for a tax advisor in Stourbridge, consider the following considerations before you call:

Questions Impacting Individuals

You may be asking the following questions:

  • Do I get an extension on filing my taxes this year?
  • Are there particular tax breaks because of COVID-19 for me personally as a self-employed worker?
  • What benefits should I have received while I had COVID from my employer?

Tax advisors and preparers who are paying attention to the latest updates can answer your questions. There are many benefits in your favour.

Questions Impacting Businesses

You may be asking the following questions:

  • Does my business get an extension on paying taxes?
  • Will my company be responsible for paying back our small business loan?
  • What business rate reliefs will help my business?
  • Is my grant treated as a loan?
  • How do innovative business laws impact my taxes?
  • How am I affected if I used my small business loan to pay employees and meet payroll?

All of these questions are better suited for a tax advisor who specialises in offering accounting and tax planning as well as preparation. You will want someone who knows the latest as legislation passes, which is all the more reason to look for a proven tax advisor!

 

 

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