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Three year carry back of company losses

An extended loss carry back was announced at Budget 2021 which enables companies (and individuals) to make claims to carry back losses for a further 2 years than previous rules allowed. This temporary extension applies for losses arising in company accounting periods ending between 1 April 2020 and 31 March 2022.

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Furlough scheme exit planning

The Coronavirus Job Retention Scheme (CJRS), commonly referred to as the furlough scheme, has proved to be the most effective government support for employers struggling to keep their teams together during the current, unprecedented COVID disruption.

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Furlough changes on 1 July

A reminder to business owners that from Thursday 1 July the level of Government support available via the furlough scheme reduces to a maximum of £2,187.50 for hours not worked.

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AUDIT SENIOR/SEMI-SENIORS

Closing date: 30 September 2021 - 17:30 Audit Senior/ Semi-Seniors Arram Berlyn Gardner LLP is a forward thinking, award winning, medium-sized firm...

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P11D forms due by 6 July

Despite the coronavirus lockdowns, HMRC still expect P11D forms reporting expenses and benefits to be submitted by the normal 6 July deadline. Employers need to submit a P11D form to HMRC for each employee you’ve provided with expenses or benefits.

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VAT for UK Businesses

VAT is a business tax on the supply of goods and services. It is charged at varying rates depending on what is being supplied, who it is being supplied to and where it is being supplied to.

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Recovery of VAT on electric car charging

The government are committed to encouraging more and more people to drive electric cars and have reduced or eliminated the income tax benefits of providing electric company cars or charging points for employees. Since 6 April 2019 there has been no taxable benefit for employees where they use an electric charging point at their place of work, provided the facility is available to all staff.

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VAT – Making Tax Digital update

From March 2021, HMRC have transferred all their remaining VAT registered businesses to their Making Tax Digital (MTD) platform. This has a number of consequences that are summarized below.

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