NEWSLETTER ARTICLES

 

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01-10-2020
100 towns to share £80m

100 towns to share £80m

The Communities Secretary, Robert Jenrick, has announced that over 100 towns in England will each be given up to £1 million to kick start regeneration projects and give areas a boost. The funding to ... read more

01-10-2020
Employee eligibility for Job Support Scheme

Employee eligibility for Job Support Scheme

The new Job Support Scheme will be introduced on 1 November 2020 as part of the government drive to help protect jobs where businesses are facing lower demand over the winter months due to ... read more

01-10-2020
Employer eligibility for Job Support Scheme

Employer eligibility for Job Support Scheme

Employers across the country have generally welcomed the announcement of the new Job Support Scheme that will be launched for 6-months from 1 November 2020. The new Job Support Scheme has been ... read more

01-10-2020
PAYE settlement agreement payment reminder

PAYE settlement agreement payment reminder

A PAYE Settlement Agreement (PSA) allows employers to make one annual payment to cover all the tax and National Insurance due on small or irregular taxable expenses or benefits for your ... read more

01-10-2020
Extended deadline for VAT payments

Extended deadline for VAT payments

The coronavirus VAT payment holiday gave businesses the chance to defer the payment of any VAT liabilities between 20 March 2020 and 30 June 2020. The option for businesses to defer their VAT payments ... read more

01-10-2020
Film & TV Production re-start rules

Film & TV Production re-start rules

At the end of July, the government announced the introduction of a new £500 million scheme to kickstart film and television production. The Film and TV Production Restart Scheme has now been launched ... read more

01-10-2020
The rules for MTD for Income Tax

The rules for MTD for Income Tax

Making Tax Digital (MTD) will fundamentally change the way businesses, the self-employed and landlords interact with HMRC. The regime will require businesses and individuals to register, file, pay and ... read more

30-09-2020
Acas, CBI and TUC on handling redundancies

Acas, CBI and TUC on handling redundancies

Acas, the CBI and the TUC have issued a joint statement to employers on best practice for handling redundancy situations caused by the coronavirus pandemic. The statement recognises that employers may ... read more

30-09-2020
Which way to go?

Which way to go?

If your business has managed to negotiate the pandemic thus far without shedding staff you have probably made good use of the furlough scheme. Unfortunately, in recent months the Government’s ... read more

30-09-2020
New coronavirus-related measures impacting on the employment relationship

New coronavirus-related measures impacting on the employment relationship

The government’s latest advice, as confirmed in the COVID-19 Secure guidelines for different types of workplaces, is that office workers who can work effectively from home should do so over the ... read more

29-09-2020
Excuse v apology

Excuse v apology

We have all been in situations where we have received bad service. For example, you place an order in a busy restaurant and notice that folks who had arrived after you were receiving their order ... read more

25-09-2020
The new Winter Economy Plan - Summary of Measures

The new Winter Economy Plan - Summary of Measures

The Chancellor, Rishi Sunak, has today delivered a statement to the House of Commons outlining plans to help protect jobs across the UK whilst the country faces a resurgence of coronavirus and a ... read more

24-09-2020
Venues required to record contact details

Venues required to record contact details

It has become a requirement for premises and venues across England to have a system in place to record contact details of their customers, visitors and staff. This move is intended to help trace ... read more

24-09-2020
Changes to duty free shopping

Changes to duty free shopping

The government has published the new rules for duty free and tax free shopping that will come into effect from 1 January 2021. The changes are wide ranging. For anyone who smokes or drinks there will ... read more

24-09-2020
Claiming tax relief for work related expenses

Claiming tax relief for work related expenses

Employees who need to buy equipment to use as part of their employment may be able to claim tax relief based on the cost of the equipment acquired. In most cases you can claim tax relief on the full ... read more

24-09-2020
Removing your home address from the public register

Removing your home address from the public register

Company directors and other eligible people such as company secretaries, people with significant control (PSC) and LLP members can apply to remove their personal addresses from the UK’s official ... read more

24-09-2020
Companies in partnership

Companies in partnership

A Partnership is a relatively simple way for two or more legal persons to set up and run a business together with a view to profit. Partnerships can take many forms. Legal persons other than ... read more

24-09-2020
Definition of a potentially exempt transfer

Definition of a potentially exempt transfer

The majority of gifts made during a person's life are not subject to tax at the time of the gift. These lifetime transfers are known as 'potentially exempt transfers' or 'PETs'. These gifts or ... read more

24-09-2020
When the cash basis is not available to a property business

When the cash basis is not available to a property business

The cash basis scheme helps landlords, sole traders and other unincorporated businesses to benefit from a simpler way of managing their financial affairs. The scheme is not open to limited companies ... read more

23-09-2020
Mothballing your business assets

Mothballing your business assets

Mothballing as used in a business sense is usually defined as to stop using a piece of equipment or process, and then storing and preserving mothballed assets for later use. Many business owners are ... read more

23-09-2020
Where is the silver lining?

Where is the silver lining?

It is really difficult to maintain a sense of equilibrium and optimism in these difficult times. Even if you can embrace the notion that everything changes, and they do, the present restrictions on ... read more

23-09-2020
Tax Diary October/November 2020

Tax Diary October/November 2020

1 October 2020 - Due date for Corporation Tax due for the year ended 31 December 2019. 19 October 2020 - PAYE and NIC deductions due for month ended 5 October 2020. (If you pay your tax ... read more

17-09-2020
Free domestic abuse advice line for employers

Free domestic abuse advice line for employers

A new advice line for employers who are supporting employees experiencing or at risk of domestic abuse has been launched by domestic abuse charity Hestia. The Everyone’s Business Advice Line, which is ... read more

17-09-2020
Coronavirus testing guidance for employers

Coronavirus testing guidance for employers

The government has published detailed new guidance for employers on the regulations and legal obligations relating to running internal workplace coronavirus (COVID-19) testing programmes, i.e. those ... read more

17-09-2020
Furlough Scheme changes September 2020

Furlough Scheme changes September 2020

As our readers will no doubt be aware, the Coronavirus Job Retention Scheme (CJRS) is closing on 31 October 2020. The scheme moved to a more flexible working arrangement from 1 July 2020 to allow ... read more

17-09-2020
Companies with a 31 December year end

Companies with a 31 December year end

For companies with taxable profits of up to £1.5 million the payment of any Corporation Tax is due 9 months and 1 day after the end of your accounting period. The accounting period is usually the ... read more

17-09-2020
Working from home tax claim

Working from home tax claim

If you do not receive compensation from your employer you can still claim tax relief for some expenses that result from home working. HMRC will usually allow you to claim tax relief if you use your ... read more

17-09-2020
Video-witnessed wills

Video-witnessed wills

The Ministry of Justice (MoJ) has confirmed that video witnessed wills in England and Wales will be made legal during the coronavirus pandemic. The change in law to introduce this measure is due to ... read more

17-09-2020
VAT on compensation payments

VAT on compensation payments

HMRC has published a new Revenue and Customs Brief on the VAT treatment of early termination fees and similar compensation payments following recent judgments of the Court of Justice of the European ... read more

17-09-2020
Relief for self-employed trading losses

Relief for self-employed trading losses

There are a number of tax reliefs available for self-employed taxpayers that make a loss carrying on their trade, profession or vocation (collectively referred to as a ‘trade’) and for their share of ... read more

17-09-2020
Carry Corporation Tax losses back

Carry Corporation Tax losses back

Corporation Tax relief may be available where your company or organisation makes a trading loss. The loss may be used to claim relief from Corporation Tax by offsetting the loss against other gains or ... read more

17-09-2020
The private pensions’ annual allowance

The private pensions’ annual allowance

The annual allowance for tax relief on pensions has been fixed at £40,000 since 6 April 2014. The annual allowance is further reduced for high earners. Since 6 April 2020, the tapered annual allowance ... read more

15-09-2020
Green Homes Grants

Green Homes Grants

A reminder that home owners and landlords can now access funding to help pay for the cost of energy saving improvements. In a recent press release the Department for Business, Energy & Industrial ... read more

14-09-2020
Cars – it’s all online

Cars – it’s all online

If you have access to the internet there are a bewildering number of online resources that you can access to help you manage recurring tasks. This week we have listed a number of these with links to ... read more

10-09-2020
New grants for businesses affected by local lockdowns

New grants for businesses affected by local lockdowns

New grant support was announced 9 September that offers businesses in areas subject to a local lockdown a measure of financial support. In a news story posted to the GOV.UK website HM Treasury ... read more

09-09-2020
English plastic bag charge to double

English plastic bag charge to double

The single-use carrier bag charge came into effect in England on 5 October 2015. This introduced a minimum charge of 5p on single-use carrier bags supplied by large shops (with over 250 employees) in ... read more

09-09-2020
Kickstart program opens in Wales

Kickstart program opens in Wales

Under the new £2 billion Kickstart scheme, employers will be able to offer young people on Universal Credit and at risk of long-term unemployment, state-subsidised work placements for six months. The ... read more

09-09-2020
Companies House has new bank account

Companies House has new bank account

Companies House has announced that they have new bank details effective from 1 September 2020. This is due to a Companies House change in status from a trading fund to a central government ... read more

09-09-2020
Fast-tracking passport applications

Fast-tracking passport applications

Due to coronavirus disruption, it is currently taking up to six weeks to renew or replace a passport online. It can take even longer if you apply by post or if applying for a first adult passport. ... read more

09-09-2020
Time to Pay

Time to Pay

Back in March 2020, as the coronavirus pandemic was just starting the government announced new emergency measures to help those businesses and self-employed people affected by COVID-19 through the ... read more

09-09-2020
Taxation of grants

Taxation of grants

A wide variety of grants or subsidies are available to businesses and can be received in addition to the ordinary business income. It is important to identify these and to establish whether they are ... read more

09-09-2020
Nominating a principal private residence

Nominating a principal private residence

There is usually no Capital Gains Tax (CGT) due on a property which has been used solely as the main family residence. Conversely, an investment property which has never been used as a private ... read more

09-09-2020
VAT – partial exemption defined

VAT – partial exemption defined

A business that incurs expenditure on taxable and exempt business activities is partially exempt for VAT purposes. This means that the business is required to make an apportionment between the ... read more

08-09-2020
Refunds – guidance or law?

Refunds – guidance or law?

The Competition and Markets Authority (CMA) recently published further detail on its views on the law in relation to cancellations and refunds during the pandemic. It remains their view that a ... read more

08-09-2020
Witnessing wills remotely

Witnessing wills remotely

A statutory instrument will be issued September 2020 that will legitimise the witnessing of wills by video conferencing methods. This extension to the witness process will apply from 31 January 2020 ... read more

02-09-2020
Government legal department numbers open to fraud

Government legal department numbers open to fraud

The Government Legal Departments (GLD) is warning that its general enquiry number (020 7210 8500) and switchboard number (020 7210 3000) are being used by fraudsters to try and extract money from ... read more

02-09-2020
Lost your tax reference number?

Lost your tax reference number?

Your unique taxpayer reference (UTR) is the primary identifier for tax purposes. The number is also sometimes known as your taxpayer number or tax reference number and should be used whenever you ... read more

02-09-2020
Tax and divorce

Tax and divorce

When a couple is in the process of becoming separated or divorced it is unlikely that they are thinking about the tax implications of doing so. However, it is important that the tax consequences of ... read more

02-09-2020
Kickstart scheme officially launched

Kickstart scheme officially launched

The new £2 billion Kickstart scheme that was announced as part of the Summer Economic update by the Chancellor, Rishi Sunak was officially launched by the government on 2 September 2020. The scheme is ... read more

02-09-2020
Changes to VAT partial exemption

Changes to VAT partial exemption

HMRC has updated its guidance on the VAT partial exemption treatment relevant to businesses who supply goods by way of hire purchase agreements. A policy paper entitled Revenue and Customs Brief 8 ... read more