Financial Support when Paying for Childcare with the Tax-Free Childcare Scheme
Save up to £2,000 a year per child when paying for approved childcare, by using the Tax-Free Childcare scheme. You could save up to £2,000 a year per child by…
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Changes to Top Slicing Relief on Life Insurance Policy Gains
HMRC has issued an amendment for working out Top Slicing Relief on life insurance policy gains. This Top Slicing Relief amendment is in effect from 11 March 2020. When a…
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New VAT Cuts for the Hospitality Industry
HMRC has issued VAT cuts for the hospitality industry to support the sector. In a bid to support the hospitality sector, HMRC has cut the VAT rate from 20% to…
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Stamp Duty Tax Break – What it Means for Landlords, Buy-to-Lets, and Limited Companies
What does the Stamp Duty Tax Break mean for landlords looking to expand their portfolios? In a bid to stimulate the struggling property market, the Chancellor Rishi Sunak announced on…
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Taxation of Expenses if your Employee Works from Home Due to Coronavirus (COVID-19)
How does the taxation of expenses work if your employee works from home due to Coronavirus (COVID-19)? HMRC have introduced a temporary measure to make it easier for employees to…
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Threshold to Repay Student Loans During COVID
As COVID continues, you only need to make payments to repay your student loan when you’re earning over the threshold. There are no changes to the Student loan and or…
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Statutory Residence Test and Coronavirus (COVID-19)
HMRC have deemed four circumstances to be ‘exceptional’ for the purpose of the Statutory Residence Test during COVID. The coronavirus (COVID-19) pandemic is affecting everyone’s ability to move freely around…
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COVID-19 Support: Deferring Self-Assessment Payments on Account
Editor’s Note: This is applicable to payments on account due to be made in July 2020. If you make Self-Assessment payments on account and are due to make a payment…
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Be Vigilant – HMRC COVID Scams on the Rise
Increasing Number of HMRC COVID Scams Since the beginning of the Coronavirus pandemic, there has been an exponential increase in fraudsters impersonating tax officials, in order to obtain financial details…
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Temporary Rule Change – Access Lifetime ISA Funds Early Without Additional Withdrawal Charge
Access your Lifetime ISA funds early with no additional withdrawal charge, thanks to a temporary rule change. People whose income has been affected by Coronavirus and who want to access…
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