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 […]
NRB invest in development of payroll team
NR Barton has recruited four new team members to improve and enhance its payroll bureau offering. The new recruits have joined our offices at Waterside House in Wigan and their appointment comes as the firm continues to invest and develop in client service. Headed up by Emma Peers (pictured above on the left), Payroll Manager, […]
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 […]
Ready for a SEISS Challenge: Information about Penalties and Claims
As coronavirus support undergoes HMRC scrutiny, we summarise the checks and possible sanctions the self-employed need to look out for when applying for the latest self-employed income support scheme grant (SEISS). The Treasury has provided HMRC with substantial resources to recover wrongly claimed coronavirus support payments, expecting to recoup over a third of grants made. Proving […]
Furlough extended until March 2021
The Coronavirus Job Retention Scheme (CJRS) is being extended until 31st March 2021. This is what we know so far before the full guidance is published on 10th November: The scheme rules are predominantly the same with a few revisions. Employees will receive 80% of their usual salary for any unworked hours for claims running […]
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 […]
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 […]
How your Covid-19 claims could affect your R&D tax credits
We are expecting HMRC to challenge future claims for Research and Development tax credits on the basis of claims made under the various Covid-19 support schemes. This is because subsidies and grants will affect eligibility for R&D tax credit claims. RDP has reviewed the main COVID-19 government assistance programmes and commented on this below. The […]
Capital Gains Tax: Reporting and payment periods shortened
Important changes to the deadlines for filing and paying CGT on the disposal of UK property Few property transactions are proceeding at the moment but anyone selling UK residential property needs to be aware that CGT due should now be reported and paid within 30 days of completion. The new obligation applies to UK residential […]
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 […]
