VAT Deferral of Payments – New HMRC Payment Scheme Relief
VAT deferral of payments was one of the COVID19 reliefs offered by HMRC. Those unable to make payment of VAT were able to defer these payments from 20 March 2020…
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Transferring Marriage Allowance
You could potentially save up to £250 each tax year by transferring a portion of your Marriage Allowance to your spouse/civil partner. Transferring the Marriage Allowance lets a spouse or…
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Winding up your company? The corporation tax requirements you need to know!
Winding up your limited company due to the voluntary or compulsory closing, might still incur tax. Whether it is due to ceasing trading, the voluntary or compulsory closing of your…
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VAT deferred payments period has ended!
The VAT deferred payments period that HMRC allowed from March to June 2020 has ended. In order to alleviate cashflow during the COVID19 pandemic, HMRC allowed for a deferral of…
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Job Retention Bonus
The Job Retention Bonus was announced by Chancellor Rishi Sunak, as part of his Plan for Jobs. This is an initiative designed to encourage employers to bring employees who had…
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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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