Electric cars just got even more tax attractive
The government’s recent announcement of a 1.25% health and social care levy may have broken their election manifesto pledge in the eyes of many, but it has also made the switch to an electric company car even more attractive for company owners and employees. In April 2020 the government introduced an enormously enticing tax break […]
New appointment boosts firm’s tax offering
Pictured: Neil Whittingham and Scott Lees Wigan based accountancy and business advisory firm NR Barton has appointed former top ten tax advisor Scott Lees to head up its tax offering. Scott, a former Tax Manager at Azets (formerly CLB Coopers) in Bolton, specialises in personal and corporate tax advisory for owner managed businesses. He has […]
National Insurance and income taxes increased to pay for a new social care levy
The Government have today announced the introduction of a new Health and Social Care Levy based on National Insurance Contributions. The purpose of the change is to ringfence and fund investment in health and social care. The changes are expected to raise over £12bn per year for the Treasury. The proposal as presented by Prime […]
Firms still owe HMRC billions after VAT holiday
More than one in four businesses that were allowed to defer tax payments during the spring lockdown last year still owe the Treasury billions. A total of 156,500 out of 590,000 businesses that took advantage of Rishi Sunak’s VAT deferral between March and June have failed to make contact with HM Revenue and Customs (HMRC) to pay […]
VAT Deferral: New Payment Scheme
VAT Deferral: New Payment Scheme How can I opt-in to the new payment scheme? How many instalments can I pay my deferred VAT in? I am having difficulty using the online service, what can I do? What if I am still not able to pay my deferred VAT? If you deferred VAT between 20 March […]
COVID-19: Chancellor announces ‘Winter Measures’ support package
Rishi Sunak has today announced his ‘Winter Measures’ support package to help businesses, employees and individuals through the ongoing troubles of the global COVID-19 pandemic. The Chancellor announced a package of measures that includes a new Jobs Support Scheme, extending the Self Employment Income Support Scheme and 15% VAT cut for the hospitality and tourism […]
Eat out to help out scheme details
The government has launched its latest scheme to support the struggling hospitality sector on 3 August, based on the initial uptake it has proved to be popular with the scheme being used more than 10.5 million times in the first week. The scheme has already had an impact on the high street with data recorded […]
Xero ready for the new VAT rates
Last week the chancellor announced a temporary cut in the VAT rate for certain supplies in the hospitality and tourism sector with the standard 20% rate is being reduced to 5% from 15 July 2020 until 12 January 2021. We’re pleased to say that Xero’s got the capabilities to apply these changes in product. The […]
Chancellor Announces Plans to Boost the Economy in the Wake of Covid-19
The Chancellor, Rishi Sunak, has announced a wide-ranging package of measures to try to boost the shrinking economy and save jobs in his Summer Statement on 8 July. Specific measures announced include: Job Retention Bonus There was no extension to the furlough scheme which is winding down over the next few months and ending on […]
VAT Domestic Reverse Charge for Construction Services delayed to March 2021
The VAT domestic reverse charge for construction services has been delayed again until 1st March 2021, further slowing down the roll out of this scheme. In a surprise move, HM Revenue and Customs announced the latest delay on 5 June 2020, one week after stating there would be no delay to the original date of […]
