Xero Blog

The VAT domestic reverse charge procedure is a new way of accounting for VAT in the construction industry. It is due to come into effect in the UK on 1 March 2021, having previously been delayed from 2019 and then October 2020 by HMRC.

You may have heard of VAT domestic reverse charge (DRC) for the construction industry, which is new legislation currently due to come into effect in the UK on 1 March 2021, having previously been delayed from 2019 and then October 2020 by HMRC. 

The Chancellor, Rishi Sunak, has unveiled a new cash injection for UK sectors that will be the most affected by the new national lockdown.  To help retail, leisure and hospitality businesses through to Spring, they will now be able to access grants of up to £9,000.

On behalf of all of us at Xero we wish you a safe and peaceful holiday season.  2020 tested us in more ways than we expected or ever imagined. As we all continue to cope with the impacts of COVID-19, we also reflect on how this pandemic has connected us in new ways and allowed us to have a much needed and open conversation about our wellbeing and that of those around us.

As we head into the holiday period and reflect on an extraordinary year, small business owners all over the world will be hoping for a return to some sort of normality in 2021. 

2020 has been a year that no one planned for. Many UK businesses have seen a protracted downturn in revenue and jobs, and indications are that we’re not out of the woods just yet.

Today we have the great honour of announcing the winners of the Xero Awards 2020: Asia. The Awards recognise and celebrate the outstanding efforts and contributions of our accounting, bookkeeping, and corporate secretarial partners in supporting the SME community through what has been an incredibly challenging year.

International Volunteer Day was on Saturday 5 December. What better way to acknowledge it than to share an amazing project that some of our Wellington-based employees have been involved in this year.

It’s International Volunteer Day tomorrow, Saturday 5 December, and I’ve been reflecting on my own involvement with One Girl. This amazing Australia-based charity runs a girl-led education program in Sierra Leone and Uganda.