Further details of Coronavirus Job Retention Scheme (CJRS) announced

March 27, 2020 No comments yet

Main Points government to cover employer National Insurance and pension contributions of furloughed workers – on top of 80% of salary those furloughed can volunteer for the NHS without risking their pay Latest Details: Businesses furloughing staff during the coronavirus outbreak will receive further financial support – with the costs of employer national insurance and […]

Government support to self-employed individuals

March 27, 2020 No comments yet

The money – up to a maximum of £2,500 a month for at least 3 months will be paid in a single lump sum, but will not begin to arrive until the start of June at the earliest. It will be called the Coronavirus Self-employment Income Support Scheme, and is open to those who were […]

23/3/2020 – GOVERNMENT SUPPORT FOR BUSINESSES DURING THE CORONAVIRUS DISRUPTION

March 23, 2020 No comments yet

The Chancellor has set out a package of temporary, timely and targeted measures to support public services, people and businesses through this period of disruption caused by COVID-19. This includes a package of measures to support businesses including: a Coronavirus Job Retention Scheme deferring VAT and Income Tax payments a Statutory Sick Pay relief package […]

UPDATED GOVERNMENT SUPPORT FOR CORONAVIRUS

March 18, 2020 No comments yet

The Chancellor has set out a package of temporary, timely and targeted measures to support public services, people and businesses through this period of disruption caused by COVID-19. This includes a package of measures to support businesses including: a statutory sick pay relief package for SMEs a 12-month business rates holiday for all retail, hospitality […]

Budget Booklet 2020

March 12, 2020 No comments yet

Chancellor Rishi Sunak delivered the first Budget since the UK’s departure from the European Union and against the backdrop of the outbreak of coronavirus. He stated that the Budget was to meet “challenging times” being felt across the economy. The key announcements were as follows:- Personal allowance for income tax remains at £12,500 for 2020/21 […]

Changes to capital gains tax on residential property

January 2, 2020 No comments yet

Finance Act 2019 brings the liability to capital gains tax (“CGT”) on gains on disposals of residential property forward to 30 days after the date of disposal. The change takes effect for disposals on or after 6 April 2020. The computation of the gain will be a standalone report and payment. Self-assessment taxpayers will continue […]

Advance warning of tax changes

June 22, 2019 No comments yet

There are a number of significant changes coming into effect from 6 April 2020 with regard to residential property, as follows:- The final period exemption The final period exemption which extends private residence relief for capital gains tax will be reduced from 18 months to 9 months. Please note that the special rules allowing 36 […]

Failure to prevent Tax Evasion

June 22, 2019 No comments yet

HMRC’s powers to investigate and prosecute businesses for tax evasion has been bolstered by the ‘Criminal Finance Act’. Businesses are now liable for the action of any employees or contractors, under the ‘failure to prevent’ rules which were brought in last year. 

HMRC TARGET RESTAURANT SECTOR

May 22, 2019 No comments yet

Amidst increasing financial pressure in the restaurant industry #HMRC is looking towards the sector for potential tax evasion. HMRC has a range of taskforces focused on investigating the industry and a keen interest in lost tax through tips, which can be difficult to monitor.

Budget Booklet 2018

October 30, 2018 No comments yet

Chancellor Philip Hammond delivered the Autumn Budget to Parliament yesterday just five months before Britain is due to leave the European Union. He stated that the era of austerity is “finally coming to an end” but that the focus is continuing to reduce debt and borrowing. The key announcements were as follows:- An earlier than […]