Coronavirus (COVID-19): Service update and our ongoing assistance for affected clients
The health and safety of our colleagues and our clients is our highest priority. In line with Government advice on social distancing we have transitioned to working from home arrangements. We are all still contactable by phone and email with a focus on working hard to help all our affected clients. Whilst our teams are operating […]
Coronavirus (COVID-19): Chancellor outlines employment subsidy measures
The Chancellor Rishi Sunak has announced his employment and wage subsidy package to protect jobs and livelihoods during the COVID-19 pandemic, his third financial intervention in a matter of days. Further details are below. The Prime Minister, Boris Johnson has also announced that most businesses within the leisure sector should close their doors this evening […]
Coronavirus (COVID-19): Advice for employers and employees
ACAS the advisory, conciliation and arbitration service have set up a dedicated page on their website to help employers and employees with matters relating to the Coronavirus (COVID-19). The page covers matters such as self-isolation and sick pay, closing of work places, and employees who need to look after others, as well as general good […]
Coronavirus (COVID-19) Business Interruption Loan Scheme Guidance
Further to our Government Support guide the British Business Bank have now issued their guidance as to eligibility criteria for businesses wishing to access the Coronavirus Business Interruption Loan Scheme (CBILS) as follows: The British Business Bank qualifying criteria for the loan scheme mean businesses must: • Be UK based, with turnover of no more […]
Coronavirus (COVID-19): Planning for business recovery
With COVID-19 developing uncertainties and businesses concerned about the current and future impact of the behaviour changes across the UK, businesses of all sizes need to consider the potential impact on their activities and finances and plan accordingly. On Thursday 17th, Rishi Sunak as Chancellor announced a package of support for businesses ranging from supporting […]
Responding to Coronavirus (COVID-19)
Businesses need to remain agile and alert as coronavirus evolves Where to go for information World Health Organisation’s technical guidance – https://www.who.int/emergencies/diseases/novel-coronavirus-2019/technical-guidance Government guidelines for employers and business – https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19 Government general guidance on the situation – https://www.gov.uk/guidance/coronavirus-covid-19-information-for-the-public Preserving and protecting the health and wellbeing of our clients, employees and community It is clear that […]
Entrepreneurs relief changes expected in Spring budget
As widely published there are expected to be changes to the well known capital gains tax relief known as entrepreneurs relief. Designed to incentive the entrepreneurial spirit by allowing a 10% tax on gains accumulated on the sale of qualifying shares and activities the incentive has become synonymous with those with a higher net worth. […]
R&D tax credits: Claims to be limited from April 2020
Why HMRC elected to bring back PAYE/NIC cap for R&D tax credits and what does this mean for your claim? As things stand, R&D tax credits are available to loss making companies with relevant qualifying expenditure at a rate of 14.5%. This means that small and medium sized businesses making a taxable loss are currently […]
Tax Planning: Annual Investment Allowance set to reduce
The annual investment allowance (AIA) is a capital allowance which allows a 100% tax deduction for qualifying expenditure (most expenditure which qualifies for capital allowances) incurred in an accounting period. This relief is normally capped at £200,000 per annum but was temporarily increased to £1,000,000 for each of the two years ended 31 December 2020, […]
Changes to off-payroll working rules (IR35)
There are some important changes to employment taxes coming into effect from 6 April 2020. Are you affected? You are affected by the changes to the off-payroll working rules (IR35) if: You are a contractor who works through an intermediary, e.g. your own limited company, often known as a personal service company (PSC), and You […]
