Tax implications of Covid-19 support payments

Various support payments are available to individuals and businesses to help mitigate the effects of the Covid-19 pandemic. Are the payments taxable and how should they be treated? Payments under…

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If your company has been hit by the pandemic, you might be thinking of waiving your dividend or remuneration as a shareholder or director. Before you do, make sure you know what’s involved.

Waiver of dividends and remuneration Many companies are experiencing financial difficulties brought about by the coronavirus pandemic and there will be many instances where directors and shareholders will be considering…

Continue Reading If your company has been hit by the pandemic, you might be thinking of waiving your dividend or remuneration as a shareholder or director. Before you do, make sure you know what’s involved.

Here’s the latest information on mileage rates for company cars, including the new coronavirus measures and what’s happening with the Advisory Electricity Rate for electric cars.

Company car mileage rates update The company car benefit tax charge does not cover fuel provided for a company vehicle. This means that where an employer pays for all fuel…

Continue Reading Here’s the latest information on mileage rates for company cars, including the new coronavirus measures and what’s happening with the Advisory Electricity Rate for electric cars.

Tax tip! When you buy shares over £1000 you have to pay stamp duty of 0.5% on the transaction. Want to know more? Read our blog below.

Stamp duty on share transactions Stamp duty is the oldest of our surviving taxes – dating as far back as 1694 – although the scope of the tax has considerably…

Continue Reading Tax tip! When you buy shares over £1000 you have to pay stamp duty of 0.5% on the transaction. Want to know more? Read our blog below.

Most businesses have suffered due to the pandemic, but should you take the option to defer your payment on account to 31 January 2021? We weigh up the option in our latest blog.

Deferring self-assessment POA – Is it is good idea? To help those suffering cashflow difficulties as a result of the Covid-19 pandemic, the Government have announced that self-assessment taxpayers can…

Continue Reading Most businesses have suffered due to the pandemic, but should you take the option to defer your payment on account to 31 January 2021? We weigh up the option in our latest blog.