Latest Blog Posts

First, let’s define these terms. “informed” – a decision or judgement based on an understanding of the facts of the situation. “guesswork” the process or

January and July are positive cash flow months for the UK Treasury as a number of significant taxes fall due for collection. Next month, July

None of us are particularly thrilled to receive communications from HMRC, but fraudulent contacts, by email and other means, are becoming commonplace and innocent members

The online portal for the new VAT payment scheme closes on 21 June 2021. Over half a million businesses deferred £34 billion in VAT payments

Government continues to be optimistic about the outlook for employment. In a recent press release they said: “Furlough numbers have fallen to their lowest level

If there is any Inheritance Tax to pay on gifts you make during your lifetime, it is charged at 40% on gifts given in the

1 June 2021 – Due date for Corporation Tax due for the year ended 31 August 2020. 19 June 2021 – PAYE and NIC deductions

If you are new to the import process the following check list will provide you with a rough guide to what you need to do:

There are still a significant number of UK employees that are furloughed. Unfortunately, this scheme is scheduled to end 30 September 2021. Businesses that are

Next month, as you will see from the Tax Diary notes for July, employers that provide any form of taxable benefit to clients will need

Package holiday companies have been instructed to respect the refund rights of holidaymakers ahead of the summer period. In a recent press release, this is

The government and the Association of British Insurers (ABI) have announced that the temporary Trade Credit Reinsurance (TCR) scheme will close on 30 June as

One of the more innovative aspects of the recent March budget was the introduction of the rather grandly named super-deduction. Limited companies that invest in

To reduce costs for UK firms that import certain goods from abroad, the Department for International Trade (DIT) has announced a new tariff suspension scheme.

The government is helping shut the door on social media scammers trying to plunder people’s pensions under new scam prevention measures due this autumn. Under

Fingers crossed that the present rise of the Indian COVID variant is restricted to localised outbreaks and that the intended relaxation of lockdown will generally

A reminder that HMRC have set out detailed guidance for the self-employed who may have over-claimed any of their Self-Employed Income Support Scheme (SEISS) grants.

Limited companies are owned by shareholders and managed by directors. Very often, especially in the case of smaller companies, the owners and managers (shareholders and

For some time now, HMRC have had the power to claw back some or all of the Child Benefits you receive if either parent’s income

1 May 2021 – Due date for Corporation Tax due for the year ended 30 July 2020. 19 May 2021 – PAYE and NIC deductions

The advisory electricity rate for fully electric cars is 4 pence per mile. Hybrid cars are treated as either petrol or diesel cars for advisory

A special relief is available for creators of literary or artistic works under which they can claim to add together their profits for 2 years

One or more charities can set up a subsidiary trading company to trade on their behalf. This may be a useful strategy if your charity:

A new Recovery Loan Scheme was launched 6 April 2021, to provide much needed liquidity to businesses affected by COVID lockdown measures. Under the scheme,

Everyone in business that handles personal data must register for data protection purposes with the Information Commissioners Office. Most business will need to pay an

The present pandemic has created just the right conditions for certain businesses to trade their way into insolvency. As we start the gradual withdrawal from

Considering a home build? It would seem that government is keen to support this activity as they have just announced new plans to provide over

A new government backed loan scheme was launched 6 April 2021. A recent news story confirming the details is reproduced below: The scheme, which was

The mortgage guarantee scheme that was announced March 2021 is intended as a temporary measure. It will be open for new mortgage applications from April

A National Insurance contributions holiday for businesses who employ armed forces veterans comes into force 6 April 2021. The policy allows employers to claim National

On 12 April, the rules that government has required us to follow to combat COVID-19, changed. From that date: non-essential retail will be able to

1 April 2021 – Due date for Corporation Tax due for the year ended 30 June 2020. 19 April 2021 – PAYE and NIC deductions

The new tax year starts 6 April 2021, and without dwelling too much on the historical trickery that has landed us with this odd commencement

Employers who have employees paid at the National Living Wage (NLW) or National Minimum Wage (NMW) rates should be applying new rates of pay from

Since 15 March 2021, smaller businesses can apply for grants of up to £2,000 to help them adapt to new customs and tax rules when

The government has confirmed its intention that furloughed employees will be paid 80% of their wages for hours not worked under the furlough scheme. Up

Many businesses across the UK are likely to make losses in the 2020-21 tax year due to the havoc resulting from COVID disruption. Which was

If you became self-employed after 5 April 2019 and you have submitted your 2019-20 tax return before 2 March 2021, you may be eligible for

Perhaps the most innovative give-away in the recent budget was “Super-deductions for investment expenditure”. What does this mean? Companies that invest in qualifying plant and

The government has announced new measures to support a safe and successful reopening of the high streets and seaside resorts ahead of the summer season.

An outline of the Finance Bill 2021 has been published and provides the legal framework for changes announced in the recent Budget. We have reproduced

HMRC has recently clarified the action you need to take if you have claimed too little or too much under the furlough scheme (Coronavirus Job

Most company business owners understand that if you incur a cost that is wholly and exclusively for the purpose of your trade, then it can

The 2020/21 tax year comes to an end on 5 April 2021. As this date approaches, it is prudent to review your pension contributions and

One aspect of the recent budget will please self-employed business owners that have previously been unable to claim under the Self-Employed Income Support Scheme (SEISS)

You may have noticed that a certain phrase came up more than once in the Chancellor’s Budget speech last week. The phrase went something like

1 March 2021 – Due date for Corporation Tax due for the year ended 31 May 2020. 2 March 2021 – Self-assessment tax for 2019/20

From April 2021, the National Living Wage (NLW) will be the statutory minimum wage for workers aged 23 and over. It currently applies to workers