In his spending review Rishi Sunak said the “economic emergency” caused by Covid-19 has only just begun, as he warned the virus would mean lasting damage to growth and jobs. Economic Predictions Made Official forecasts now predict the biggest economic […]
Tag: Tax
2020 Christmas arrangements and works Christmas parties
A joint statement on UK-wide Christmas arrangements from the UK Government and Devolved Administrations outlined UK wide arrangements for Christmas. They’ve agreed that: Travel restrictions across the four administrations and between tiers will be lifted to provide a window for […]
HMRC HAS PUBLISHED DETAILS OF THE EXTENDED CJRS
Details of extended CJRS has been published by HMRC. Here is the information you need to help with claims. What you need to do for the claims – for periods from 1 November (HMRC email 10 November) Read the new […]
Thinking about selling a property?
Tax experts are declaring a new Capital Gains Tax rule will result in a seismic shift for property owners. Read on if you are thinking about selling up after the 6th of April. If you’re considering selling a residential property (which is not wholly exempt) after the 6 of April, you should be aware of…Read More
Are you ready for the new IR35 rules?
Following December’s election result we wait eagerly for news on an IR35 review for the private sector. New IR35 rules for medium to large private organisations are scheduled for April 2020. However, Chancellor Sajid Javid commented, on Radio 4’s Moneybox, that an IR35 review would take place before April. The promise of a review was…Read More
Optimising Your Salary and Dividend Mix
It is important that shareholders/directors have regular reviews of their salary and dividend mix to ensure they are receiving the greatest benefit. There are several key factors to note covering NIC, Income Tax and Dividends:
Company Electric or Hybrid Vehicles Offer Both Tax and Environmental Benefits
A Benefit-In-Kind (BIK) arises when employees or directors receive benefits excluded from their salary. One of the more typical taxable benefits are company cars, which become taxable if there is allowance for private use. Only when there is strictly no […]
IR35: are you inside or outside?
The 21st century world of work has been shaped by people striving for a healthy work – life balance. Today, the life of the free agent is under threat with HMRC’s complicated IR35 legislation now under consultation for the Private sector. Read on to find out more. IR35 – what is it? HMRC’s IR35 legislation…Read More
Hello 2019, Goodbye Annual VAT Return
2019 is the beginning of the end of the tax return as we know it. From April 2019 VAT registered businesses turning over more than £85,000 pa will be required to submit their first quarterly return using software and keep their records digitally. This leaves very little time to make changes to your accounting processes.…Read More
Management Accounting Generates Results; Financial Accounting Reflects Them
In our ever-changing world, businesses cannot survive by using the past to predict the future. Therefore, they cannot thrive using only financial accounting, they require management accounting to look ahead. If you don’t control your activities through management accounting, you […]
Are you up to date with HMRC’s new PENP rule?
Watching headlines unfold that companies like Rolls Royce are making 4,600 people redundant is always a sobering experience. Restructuring the business is sometimes the only way to continue regrettably resulting in the loss of employees through redundancies. That’s why this week I’ve decided to discuss the new tax rules regarding terminating employment by making people…Read More
Would you vote no confidence in IR35?
Are you a contractor struggling to get your head around IR35? If the answer is yes, you are not alone. According to recent survey by Harvey Nash: 90% of contractors admit post-IR35 reform stress. Since the changes to IR35 legislation, in April 17, many Public Sector projects have slowed down or stopped. The primary cause…Read More
Funding Matters
Digitisation Matters
Strategy + Planning
Tax Planning + Advice
R&D Tax Hub