In the Chancellor’s second real Budget on 3 March 2021 he announced that he had to level with people about the state of the UK economy. Rishi Sunak has chosen a fine line between raising taxes to start paying down the...
Accounting News
Domestic Reverse VAT Charge For Building And Construction Services
The domestic reverse VAT charge for building and construction services was due to come into effect from 1 October 2019. However, it was announced that the start date had been put back and these changes will now apply from 1...
COVID-19 – Support For Businesses In Lockdown – Grant Application Form Now Available
On the 31 October 2020 the Government announced further national restrictions starting on 5 November 2020. The Government have put grant schemes in place to support businesses during this lockdown. Please see the following links for your area: Cheshire East Newcastle-under-Lyme Stoke Stafford If you would...
The Office Of Tax Simplification Calls For Capital Gains Tax Overhaul
The Office of Tax Simplification (OTS) is recommending aligning capital gains tax (CGT) rates with those attributable to income tax as well as sharply reducing the annual exempt amount in order to increase tax revenues and create a more equitable...
COVID-19 – Check If You Are Eligible For The Coronavirus Local Restrictions Support Grant
The Local Restrictions Support Grant (LRSG) supports businesses that have been required to close due to temporary COVID-19 local lock-down restrictions imposed by the government. Your business may be eligible if it: Occupies property on which it pays business rates Is...
COVID-19 – Claim Tax Relief For Expenses Incurred Working From Home
You may be able to claim tax relief for additional household costs if you have to work at home on a regular basis, either for all or part of the week. This includes if you have to work from home...
COVID-19 – Self-Employment Income Support Scheme – Is This For You?
Information about the Self-Employment Income Support Scheme (SEISS) has been released over six months and so has become fragmented. We always want to make things simple for our clients so we have drawn all the information together. The SEISS grants are available...
COVID-19 – Business Update
Winter Economy Plan Here are the headlines from the Chancellors statement in Parliament where a series of measures to help jobs and businesses were announced. New Job Support Scheme Announced Chancellor Rishi Sunak announced a new job scheme starting 1 November 2020 to...
COVID-19 – Covid Support Payments
A 100% income tax charge can be imposed where a recipient of a support payment was not entitled to it. This charge covers scenarios such as Coronavirus Job Retention Scheme (furlough) claims where the employees concerned were still working, and also...
COVID-19 – Claims Open For Second Self-Employed Support Grant
Millions of self-employed people whose trade has been hit by coronavirus can now apply for a second support grant from the government. More than three million people may be eligible for the payment of up to £6,570 each, which Chancellor Rishi...