Increasingly, employers are asking employees to work from home. However, this comes with additional household costs for them. Nevertheless, there is tax relief available. The additional costs your employees can claim for include heating, water bills, business calls or even broadband connection. How much can you claim: Employees can claim a [...]
If you are a landlord, second homeowner or a holiday homeowner and you sell your property at a gain, you have just 30 calendar days to inform HMRC and make a Capital Gains Tax (CGT) payment. If you fail to meet this deadline you will be subject to a £100 fine which [...]
It has been widely reported that, in order to pay for the support provided during the lockdown, taxes will need to rise. This is no major surprise, after all, there is no magic money tree, and the support must be paid for. The issues that the Government face are complex and [...]
Making Tax Digital (MTD) is the electronic filing of tax information to HMRC, and there have been some important dates announced this week. MTD for VAT Since April 2019, most VAT-registered businesses with taxable turnover above the VAT threshold of £85,000, have been mandated to keep digital VAT records and to [...]
What are the various parties Taxation Policies? With an upcoming election seemingly now inevitable each party are making pledges around Taxation – we look at what these are likely to be. Conservatives The Conservatives promise Investment in an “infrastructure revolution” with money for broadband, roads, the NHS, schools and police. Corporation [...]
"We are are so pleased that this measure has been kicked down the road more change at this time of uncertainty is not what we need" was a recent comment from one of our clients in the construction industry. We can't disagree, finally some common sense from HMRC who under pressure from the [...]
If you are CIS registered and VAT registered then from the 1st of October there will be changes to the way you account for VAT. This guide looks into these changes and what they mean for your business. The changes mean a VAT-registered business, which supplies certain construction services to another VAT-registered business [...]
You probably haven’t ever tried to boil a frog, but if you ever do then don’t put it in boiling water - it will jump straight out! If you start with it in cold water and boil it slowly, then your frog is toast. Don’t ask how we know this, but it is [...]
You will be hearing more and more Making Tax Digital (MTD) over the next 6 weeks. MTD is, according to HMRC, “a key part of the government’s plans to make it easier for individuals and businesses to get their tax right and keep on top of their affairs” MTD for VAT means a [...]
Another budget has gone by and yet again it seems to miss out most of the items that were speculated about in the weeks leading up to it. As far as budgets go this is a fairly low impact one for small businesses in our opinion. That said the Budget is a large [...]
