A new tax incentive for companies. 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 machinery in the period from 1 April 2021 to 31 March 2023 will benefit from enhanced capital allowances. Investments in assets that qualify for […]
What are Super-deductions? Read More »
How will budget changes affect you? The Chancellor, Rishi Sunak, presented his 2021 Budget on 3 March 2021. The extent to which the measures will affect you will depend on your personal circumstances. This report is split for your convenience into three sections: Impact on individuals Impact on the self-employed Impact on small company owners
Opportunities to save tax. Some of the ideas shared in the following check list may provide you with ideas for tax saving opportunities if implemented. This year, more than at any previous time, we need to take advantage of savings as the COVID virus continues to wreak havoc on the UK economy. Actions to take
Year end Tax Planning for Business 2020-21 Read More »
Opportunities to save tax Some of the ideas shared in the following check list may provide you with ideas for tax saving opportunities if implemented. This year, more than at any previous time, we need to take advantage of savings as the COVID virus continues to disrupt the economy. Many landlords have seen significant reductions
Landlord’s tax planning checklist 2020-21 Read More »
Opportunities to save tax. Some of the ideas shared in the following check list may provide you with tax saving opportunities if implemented before 5 April 2021. This year, more than at any previous time, we need to take advantage of savings as the COVID virus continues to impact on the economy and personal finances.
Year-end tax planning for individuals Read More »
Outstanding tax returns Tax returns should now all be hopefully submitted by now, however if your return is currently outstanding you have until the 28th of February to submit to avoid a penalty. Tax payments outstanding Although there has been an extension to the tax return filing deadline, HMRC still charge interest on late paid
February 2021 Newsletter Read More »
Self-employed grant claimsThe third grant claim must be claimed by 29 January so if you qualify do not delay submitting your claim – see https://www.gov.uk/guidance/claim-a-grant-through-the-self-employment-income-support-scheme Please note that the criteria for claiming has changed slightly since the earlier grants, please read the notes carefully when you submit your claim, most people affected by the lockdown will not have
In a welcome announcement today, the Chancellor, Rishi Sunak, revealed a raft of changes to the Job Support Scheme (JSS), the Self Employed Income Support Scheme (SEISS) and the Local Restriction Support Grants (LRSG). The changes will re-establish more realistic support for businesses adversely affected by COVID-19 disruption. Changes to the Job Support Scheme (JSS
Changes in Government Support Read More »
Director/shareholders have a unique position with their companies for tax purposes. Usually, they can decide when and how to withdraw funds from their business, but these withdrawals can have unforeseen tax effects. Salaries and dividends If amounts drawn are salaries or dividends the tax implications can be planned for and will form part of the
Director’s loans – Take care! Read More »
Can you claim for Self-Employed Income Support? The government recently announced an extension to the Self Employed Income Support Scheme (SEISS). The first grant covered a three month period to 13 July 2020. The second grant will cover the three months commencing 14 July 2020. Those eligible for the first quarter must have claimed SEISS
Self-employed Income Support Scheme – 2nd grant Read More »
