Category: Uncategorised

Politics aside, the UK Government’s response to the Coronavirus (COVID-19) crisis has been comprehensive, but incomplete. A lot of limited companies in particular and their Directors have been left behind without any support, nor much hope of it being business as usual for weeks if not months to come. Why not consider R&D Tax Credits…

This is the most Frequently Asked Question from our clients this week, so we thought we’d prepare a blog to answer these questions head-on. This is because where a Limited Company Director furloughs themselves, they are not able to work, therefore, they can only fulfil their duties as a Director of a Limited Company.

A Benefits in Kind Form (P11D) is used to report expenses and benefits paid to directors and employees, which have not been taxed through the payroll, or PAYE system. As a result, you can pay the tax and National Insurance owing from these. Typical examples include company cars, health insurance, travel and entertainment expenses and…

After the January 31st deadline passes, self-employed people across the country prepare themselves for their tax bill. For many of them, it seems that no matter how often their good intentions promised that they would put money aside for it, the tax deadline is a period of real financial difficulty.

Everyone makes mistakes. Whether you didn’t know you needed to declare the rental income you received, life got in the way of you doing it, or you just didn’t know how to resolve it; you do now; we are here to help you. Do you have property income which you haven’t told HMRC about? Is…

Yesterday it was announced that HMRC are to postpone the requirement for VAT registered businesses to digitally link their VAT return processes, from data source to VAT return until 1 April 2021, due to the Coronavirus. Making Tax Digital (‘MTD’) is an HMRC initiative attempting to transform the UK tax system, with more regular and…

In just a few days, two big changes are coming to Capital Gains Tax (‘CGT’), which will raise additional tax when individuals dispose of residential properties and HMRC will collect the tax significantly more quickly from the taxpayer. As these changes are in legislation already, only more legislation could reverse this, so even with coronavirus…

Following the Chancellor Rishi Sunak’s announcements last night, we wanted to make sure we kept you updated with all the latest support measures. Party politics aside, please remember the help for the self employed is much harder to administer and deliver because unlike the other support announced to date, it doesn’t build on an existing…

During these unusual and difficult times, it can be hard to catch our breath as we try to figure out how to manage what lies ahead with the spread of Coronavirus in the UK. Family, friends and our community come first, but the reality is we still have our livelihoods to consider.

In case you missed it amongst all the other headlines, on Tuesday, 17 March the government announced its last-minute decision to postpone the implementation of the Off-Payroll changes, or IR35, that were due to be introduced on the 6 April 2020. The delay is to help businesses and individuals who may be struggling following the…