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Understanding holiday pay: what are the requirements?
Helpful Tips

Understanding holiday pay: what are the requirements?

The COVID-19 pandemic has caused a great deal of upheaval for both employers and employees – but one element that...
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Tax News

VAT Construction reverse charge – Are you ready?

THE NEW VAT RULES FOR CONSTRUCTION SECTOR START ON 1 MARCH 2021 New VAT rules are due to come into...
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THE SELF-EMPLOYMENT INCOME SUPPORT SCHEME GRANT LEVELS HAVE BEEN INCREASED FURTHER
Uncategorized

THE SELF-EMPLOYMENT INCOME SUPPORT SCHEME GRANT LEVELS HAVE BEEN INCREASED FURTHER

It was announced on the 2 November that the government is increasing its support to the self-employed over the coming...
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THE CORONAVIRUS JOB RETENTION SCHEME (CJRS) HAS BEEN EXTENDED – JOB SUPPORT SCHEME (JSS) POSTPONED
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THE CORONAVIRUS JOB RETENTION SCHEME (CJRS) HAS BEEN EXTENDED – JOB SUPPORT SCHEME (JSS) POSTPONED

Following the announcement by the Prime Minister on the 31 October regarding the new lockdown in England for the commencing...
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Check if you can Claim a Grant Through the Self-Employment Income Support Scheme
COVID-19

Check if you can Claim a Grant Through the Self-Employment Income Support Scheme

HMRC updated their guidance 4 May to outline the process for applying for SEISS. Full details:  https://www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme The scheme will...
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VAT Soft Landing Extension
News

VAT Soft Landing Extension

On 7th April 2020 HMRC published an update to Notice 700/22 (https://www.gov.uk/government/publications/vat-notice-70022-making-tax-digital-for-vat), which confirms the rumours which have been circulating,...
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Self-Employed Update
COVID-19

Self-Employed Update

On Thursday 26 March the government announced their intention to provide further support for the self-employed in the form of a taxable cash grant. The scheme allows individuals to claim a taxable grant worth 80% of their trading profits up to a maximum of £2,500 per month for the 3 months from March to May 2020. This may be extended if needed.
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CORONAVIRUS BUSINESS INTERRUPTION LOAN SCHEME
COVID-19

CORONAVIRUS BUSINESS INTERRUPTION LOAN SCHEME

CBILS is a new scheme, announced by The Chancellor at Budget 2020, that can provide facilities of up to £5m for smaller businesses across the UK who are experiencing lost or deferred revenues, leading to disruptions to their cashflow.
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JOB RETENTION SCHEME
COVID-19

JOB RETENTION SCHEME

PLEASE NOTE: NOTE THIS GUIDANCE IS STILL INCOMPLETE AND THE GOVERNMENT NEED TO ISSUE FURTHER BRIEFING NOTES ON THE DETAIL....
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VAT DEFERRAL
COVID-19

VAT DEFERRAL

For VAT, the deferral will apply from 20 March 2020 until 30 June 2020. All UK businesses are eligible. (more…)
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3-MONTH EXTENSION PERIOD TO FILE ACCOUNTS
COVID-19

3-MONTH EXTENSION PERIOD TO FILE ACCOUNTS

From today (25 March 2020), businesses will be able to apply for a 3-month extension for filing their accounts. This...
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COVID 19 Resources
COVID-19

COVID 19 Resources

As you are no doubt aware the Chancellor, Rishi Sunak, laid out some new measures on the 20th March 2020...
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Tax News

Tax relief on training costs explained

Is tax relief available for training costs when setting up a new trade in a limited company? We have been...
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Helpful Tips

Paying Personal Self Assessment Tax

The easiest way to pay your tax bill is by faster payment transfer using your online banking service. If you...
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Tax News

Pension Tax Relief Restricted for Higher Earners

As mentioned in the Conservative party manifesto, tax relief for pension contributions is to be restricted for those with income...
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Tax News

Corporation Tax Rate to be Cut to 18%

The current UK corporation tax rate of 20% is the lowest rate in the G20, the 20 major trading nations....
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Tax News

Buy to Let Landlords – Interest Relief to be Restricted to Basic Rate

The Chancellor announced that the amount of income tax relief landlords can get on residential property finance costs (such as...
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Tax News

Annual Investment Allowance set Permanently at £200,000

The annual investment allowance (AIA) was due to be reduced from the current temporary level of £500,000 to just £25,000...
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News

New ‘National living Wage’ Tax Credit Changes

The most radical announcement by the Chancellor on 8th July was a significant reduction in the amount the government plans...
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Tax News

Inheritance Tax and the Family Home

As mentioned last month the Chancellor has confirmed the introduction of an additional inheritance allowance that will be available in...
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