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
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
As a business owner you can loan your employees up to £10,000 – but what are the tax implications? Find out more below.
Hardship loans to employees To help employees out during the Covid-19 pandemic, employers may provide ‘hardship’ loans to employees. Where loans are provided, what are
July 28, 2020
The extent to which a company car remains available for an employee’s private use explained.
Company car ‘availability’ during the Covid-19 pandemic For many, their working patterns changed as a result of the Covid-19 pandemic. Some employees were required to
July 25, 2020
Company loan
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
July 24, 2020
If you have forgotten to file your tax return or have made a mistake leading to a penalty and you or a family member were ill with coronavirus, this might be allowed as a ‘reasonable excuse’. In today’s blog we explain what reasonable excuses are and how coronavirus might fall into this category.
Twitter: Reasonable excuse – does coronavirus count? HMRC may allow an appeal against a penalty if the taxpayer has a ‘reasonable excuse’ for why, say,
July 22, 2020
Do you know that the furlough scheme has changed? From 1 July, a grant claim can only be made if the employee was previously furloughed for at least three consecutive weeks before 1 March 2020 and 30 June 2020. We explain more in today’s blog.
Flexible furloughing As far as the Coronavirus Job Retention Scheme is concerned, it is all change from 1 July 2020. From that date, employees can
July 20, 2020
Considering selling your buy-to-let property? The late filing penalties for delaying to notify HMRC are no longer paused, read the latest here.
Capital gains tax implications of selling the buy-to-let There may come a time when a landlord no longer wants to hold a buy-to let property
July 18, 2020
Have you reduced your rent or let family and friends stay in one of your properties during the pandemic?
Tax implications of uncommercial lets There are various circumstances in which a landlord may let a property at rate which is below the current market
July 15, 2020
Empty properties – does this mean the end of the property rental business?
During the Covid-19 pandemic, landlords may have periods when their properties have been empty. Landlords letting furnished holiday lettings were particularly badly affected due the
July 12, 2020
If your company has been hit by the pandemic, you might be thinking of waiving your dividend or remuneration as a shareholder or director. Read more…
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
July 9, 2020
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
July 5, 2020