Annual investment allowance – Beware the transitional rules
The annual investment allowance (AIA) was increased from its usual level of £200,000 to £1 million for the two-year period from 1 January 2019 to
October 17, 2020
Employees, can you claim tax relief for expenses of working from home?
The Covid-19 pandemic has meant that more employees worked from home than ever before. This trend looks set to continue following the Government’s latest advice
October 15, 2020
Employment allowance – Have you claimed it?
The National Insurance employment allowance enables eligible employers to reduce the amount of employer’s National Insurance that they pay over to HMRC. The allowance, which
October 13, 2020
Paying back deferred VAT
At the start of lockdown, the Government announced a number of measures to help businesses weather the pandemic. One of those measures was the option
October 11, 2020
Homeworking equipment and returning to the office
Before the Government U-turn, many employees had started to return to office-based jobs. Where the employee had previously worked from home and had been provided
October 9, 2020
Paying family members
Regardless of the business structure (for example limited company or sole trader) it is possible to employ family members. This has some obvious advantages including
October 7, 2020
Preparing for 2021 changes: Customs grants available
In June 2020, the Government announced that it was making funding available to customs intermediaries and businesses to help increase their capacity to make customs
October 5, 2020
Kickstart Scheme
In the July Economic Statement, as part of his Plan for Jobs, Chancellor Rishi Sunak announced that a new Kickstart Scheme would shortly be launched
October 3, 2020
Discover how the reduced VAT scheme works for hospitality and leisure businesses
Reduced rate of VAT for hospitality and leisure The hospitality and leisure industries have been severely affected by the Coronavirus pandemic. To help businesses in
October 2, 2020
Tax implications you should know about when you are in the unfortunate situation of Separation or Divorce
Separation, divorce, and private residence relief Where a couple separate or divorce, one party may move out of the matrimonial home, with the other party
September 30, 2020
Why choosing an electric van for a company car is a wise decision
Electric company vans and the benefit in kind charge If an employee is able to use a company van privately, a benefit in kind tax
September 27, 2020
More than one home? Check which one qualifies for private residence relief
Private residence relief removes the charge to capital gains tax on the taxpayer’s only or main residence. For the purposes of the relief, a taxpayer
September 17, 2020
Statutory redundancy pay and furloughed employees
As the Coronavirus Job Retention Scheme draws to a close, employers may face the difficult decision to make some employees redundant. Legislation was introduced at
September 14, 2020
With property prices varying wildly here’s what you need to know about selling a property under probate
Selling at property at below the probate value The property market is often volatile but throw a Coronavirus pandemic and a stamp duty holiday into
September 12, 2020
Helpful information on income and corporation tax relief when deciding to shut down a business
Terminal loss relief Sadly, not all businesses will survive the Covid-19 pandemic, and many may take, or be forced to take, the decision to close
September 9, 2020
Update on off-payroll working rules (IR35)
The off-payroll working rules, known as IR35, were introduced in 2000 to ensure that someone working like an employee, but through a limited company, pays
September 6, 2020
Winding up a business
The decision of how and when to cease a business is usually prompted by a combination of three main factors – market conditions, market forces,
September 3, 2020
Paying for school fees
In the UK, paying for education affects many parents and their student offspring at some point. Thousands are already paying college and university fees, and
August 30, 2020
Property Transaction charges reduced
In his Economic statement on 8 July 2020, Chancellor Rishi Sunak highlighted that property transactions fell by more than 50% in May, while house prices
August 28, 2020
Maintaining your NIC contributions record during Covid-19
The Covid-19 pandemic has meant that many people will suffer a reduction in income in 2020/21. Not all individuals are eligible for support under the
August 25, 2020