Coronavirus Job Retention Scheme

UPDATED 9 APRIL 2020 What has changed since 7th April? As below, we advised that business owners must submit their own applications for the Coronavirus Job Retention Scheme grant, and that we, unfortunately, could not do this on our clients’ behalf. We are pleased to say that HMRC have released new information which indicates that[…]

12 months interest free loans via your bank

Coronavirus Business Interruption Loan Scheme Updated: 7th April 2020 On 20th March 2020, the Chancellor of the Exchequer, Rishi Sunak, announced several measures to help businesses across the UK who will be affected by the Covid-19 coronavirus. The situation is changing rapidly. This was the third significant announcement by the Chancellor in 10 days. Subscribe[…]

Support for retail, hospitality and leisure businesses that pay business rates – 20 March 2020

Following the covid-19 coronavirus outbreak, the government have introduced targeted measures for retail, hospitality and leisure businesses that pay business rates. The following has been taken directly from the UK government website. If you need our help or further advice, please email your usual Jack Ross contact. Support for retail, hospitality and leisure businesses that[…]

Covid-19 Self Assessment Income Tax Deferral Scheme – 20 March 2020

On 20th March 2020, the Chancellor of the Exchequer, Rishi Sunak, announced several measures to help businesses across the UK who will be affected by the Covid-19 coronavirus. The situation is changing daily and there is scant detailed information coming from the government. We will be keeping our website up to date and ensuring we[…]

Covid-19 VAT Deferral Scheme 20 March 2020

Eligibility On 20th March 2020, the Chancellor of the Exchequer, Rishi Sunak, announced several measures to help businesses across the UK who will be affected by the Covid-19 coronavirus. The situation is changing daily and there is scant detailed information coming from the government. We will keeping our website up to date and ensuring we give you the[…]

Benefit in kind

Tax Card 2018/19 (Part 1)

TAXABLE INCOME BANDS AND TAX RATES   2018/19 2017/18 Starting rate* of 0% on savings up to £5,000 £5,000 Basic rate band £34,500 £33,500 Higher rate band £34,501 – £150,000 £33,501 – £150,000 Additional rate band Over £150,000 Over £150,000 Basic rate 20% 20% Higher rate 40% 40% Additional rate 45% 45% Dividend ordinary rate[…]

Posted in Tax
Tax investigation

HMRC investigations

What to expect when the Revenue comes knocking. Anyone whose business comes under the Revenue’s microscope is usually in for a roller-coaster ride. HMRC has upped its game in recent years when it comes to probing businesses or sole traders who may be suspected of falsely reporting or underpaying tax. Nobody appears to be beyond[…]

Charity

Giving to charity in life and death

How to include charitable donations in your tax planning strategy. Incorporating charitable giving into your tax planning strategy can be a useful way to reduce both your income tax and the inheritance tax (IHT) that will eventually become payable on your estate. As such, gifts may become an important component of both the estate planning[…]

Autumn Budget

Autumn Budget 2017 round-up

A range of measures designed to boost business and productivity were announced in Autumn Budget 2017. Amid a background of discontent surrounding business rates, chancellor Philip Hammond revealed future increases will be determined by the Consumer Prices Index measure of inflation from April 2018. The measure comes into effect two years earlier than originally planned[…]