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.
The VAT deferral new payment scheme is open for all businesses who deferred paying VAT due between 20 March and 30 June 2020 and were unable to pay in full by 31 March 2021.
The amount of the fifth grant will be determined by how much your turnover has been reduced in the year April 2020 to April 2021. HMRC provide more information and support by the end of June 2021 to help you work out how your turnover was affected.
Smaller businesses have until the end of the month to apply for grants to help them adapt to new customs and tax rules when trading with the EU.
Criminals are astute and adapt at exploiting changes in legislation to trick us into believing that they are your bank, HMRC, court officers or some other representative of authority.
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.
If you have a property rental business, you may be running it through a limited company, or you may be running an unincorporated business and wondering whether you should incorporate.
In this short update we have listed some of the tax incentives you may be able to claim if you choose or are required to work from home.
Four new measures affecting the construction industry scheme (CIS) were enacted from 6 April 2021 as HMRC cracks down on tackling abuse of the scheme. Being on the wrong side of these change could cause significant cashflow disruption and detailed records should be kept to support any set-off claims.
Investment in the UK’s manufacturing sector is poised to rise as a result of the capital allowances super-deduction.
The super-deduction enables companies that invest in qualifying new plant and machinery to benefit from a 130% first-year capital allowance.
The policy kicked in on 1 April 2021 and allows companies to cut their tax bill by up to 25p for every £1 they invest in qualifying business assets.
We are really looking forward to welcoming guests back at our office at 30 City Road but at the same time we are keen to ensure that we plan an outstanding programme of events for 2022.
Our clients and contacts are an important part of our business and we really value your opinions. We hope that you can spare a few minutes to provide us with your thoughts and opinions which will help us to shape the future of our events.
The Recovery Loan Scheme supports access to finance for UK businesses as they grow and recover from the disruption of the COVID-19 pandemic.
Up to £10 million is available per business. The actual amount offered, and the terms are at the discretion of participating lenders.
The government guarantees 80% of the finance to the lender. As the borrower, you are always 100% liable for the debt.
The scheme is open until 31 December 2021, subject to review.
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