| 16-02-2021
Due to a mismatch of earnings thresholds, basic rate taxpayers may unexpectedly come under the scope of the High Income Child Benefit Charge in April. The Low Incomes Tax Reform Group (LITRG) has issued a warning to families that they may be subject to a tax charge when claiming Child
| 15-02-2021
The VAT Deferral New Payment Scheme The time to take action is now. Any business that deferred VAT payments due between 20 March and 30 June 2020 as a result of the Coronavirus pandemic, must now consider how they will repay this outstanding tax.
| 01-02-2021
Calculating Coronavirus Job Retention Scheme claims for annually paid directors Small company directors that were not able to claim under the Coronavirus Job Retention Scheme (CJRS) because they paid themselves an annual salary in March 2020 may now be eligible to claim under the scheme.
| 26-01-2021
HM Revenue & Customs (HMRC) has announced that any Self-Assessment taxpayers who miss the 31 January 2021 tax return deadline will not receive late filing penalties if they file online by 28 February 2021, although the 31 January 2021 payment deadline remains.
| 27-01-2021
The latest guidance on VAT on imports and services to and from the EU is complex and businesses need to account for this in their trading. To help we have provided a brief summary below, but we highly recommend you seek additional advice.
| 27-01-2021
The Federation of Small Businesses (FSB) is calling on the Government to introduce new measures to help companies struggling with COVID-related debt, including employee shared ownership.
| 27-01-2021
Within hours of the Prime Minister announcing a new national lockdown in England, HM Revenue & Customs (HMRC) has issued new warnings after it received reports that fraudsters were attempting to dupe taxpayers by pretending to be the tax authority.
| 27-01-2021
According to reports in the Financial Times, the Government is considering launching a new loan scheme, where businesses could borrow anything up to Ā£10 million through an 80 per cent state-guaranteed bank loan.
| 27-01-2021
An independent commission established last spring by the London School of Economics, the University of Warwick and the Economic and Social Research Council to analyse proposals for a wealth tax has rejected an annual tax but has advocated a one-off charge.
| 27-01-2021
HM Revenue & Customs (HMRC) has increased the threshold for Self-Assessment taxpayers to use its online self-service Time to Pay payment plan service from Ā£10,000 in tax liabilities to Ā£30,000.
| 18-01-2021
More than 370,000 small businesses in England and Wales could be due a payout on their business interruption insurance after the Supreme Court ruled in favour of payments being made on previously refused claims and policies.
| 06-01-2021
One of the key factors that determine the tax on a businessās right to occupy commercial property in England has been frozen for 2021/22, the Chancellor has confirmed.
| 06-01-2021
Employers of low-paid workers in the UK will have to absorb another rise to the national living wage and pay it to over-23s from April 2021, the Chancellor has confirmed. Rishi Sunak confirmed the increase in his Spending Review 2020, in which it was announced the national living wage will
| 06-01-2021
HMRC is reminding taxpayers that the deadline to submit 2019/20 personal tax returns through self-assessment is on or before midnight on 31 January 2021. Last year, a record-breaking 11.1m taxpayers complied with filing their personal tax return for 2018/19 on time, while around 8% missed the deadline altogether. More than
| 06-01-2021
A temporary increase to the annual investment allowance has been extended until 1 January 2022, the Treasury confirmed. The allowance enables firms to fully offset the cost of qualifying capital items of plant and machinery against taxable profits. Since 1 January 2019, businesses have received faster tax relief for plant
| 06-01-2021
Reaching international markets in 2021 and beyond. The UK has left the EU, and for British exporters, that presents both opportunity and uncertainty. Thereās potential for businesses to branch out to new markets outside of the EU, but that comes with a new set of rules and procedures to navigate
| 06-01-2021
The effects on supply chains from 1 March 2021. Those working in the UKās construction industry will have to handle and pay VAT differently from 1 March 2021, unless thereās another last-minute Government U-turn.
| 14-12-2020
A pair of studies have revealed that UK grandparents are reconsidering their plans following the Coronavirus pandemic, which may mean that many families are set to inherit more than they expected to.