08 Apr 2021

New enhanced loss relief rules may result in extra tax refunds

In the March Budget it was announced that the normal one year carry back for trading losses would be extended to three years. This means that many businesses that have made losses during the COVID-19 pandemic may be able to obtain a repayment of tax paid in that three-year period. This enhanced carry back applies to unincorporated businesses as well as limited companies and the details are set out in the latest Finance Bill.

08 Apr 2021

New personal service company rules start this month

The "off-payroll" working rules that apply to certain workers supplying their services to clients via their own personal service companies start from 6 April 2021.

08 Apr 2021

Uber drivers are workers not self employed

The Supreme Court has ruled that drivers for the ride hailing App Uber are workers not self-employed individuals and hence are entitled to holiday pay, pension rights and the right to be paid the national minimum wage.

08 Apr 2021

More details on the new super-deduction for equipment

In the Budget on 3rd March the Chancellor announced a new 130% tax relief for expenditure on new plant and machinery incurred between 1 April 2021 and 31 March 2023.

29 Mar 2021

Don’t Lose Your 2020/21 Personal Allowance

For every £2 that your adjusted net income exceeds £100,000 the £12,500 personal allowance is reduced by £1.

29 Mar 2021

VAT Rules For Construction Sector Started

The new “reverse charge” system of VAT accounting affects sub- contractors supplying their services to main contractors in the construction sector.

29 Mar 2021

“Off-Payroll” Working Rules

Where large or medium-sized organisations are paying workers via personal service companies (PSC) or agencies they will need to operate new procedures from 6 April 2021.

29 Mar 2021

2021/22 National Insurance Bands

The thresholds for employee and employer national insurance contributions (NICs) have been increased by £1 a week for the 2021/22 tax year. Employees will be liable to 12% NICs between £184 and £967 a week (£50,270 a year). Employer contributions will start at £170 a week.

29 Mar 2021

Advisory Fuel Rate For Company Cars

These are the suggested reimbursement rates for employees' private mileage using their company car from 1 March 2021.

23 Feb 2021

European property owners face higher tax bills

Now that the UK has finally left the EU some taxpayers will start to see additional tax costs. One example is where UK residents own holiday homes in EU countries that they rent out for part of the year.

23 Feb 2021

Get ready for new off-payroll working rules (IR35)

This time last year businesses were preparing for important changes to the rules where workers supply their services via their own personal service companies. The start date was then deferred from 6 April 2020 to 6 April 2021.

08 Feb 2021

Payment of your deferred VAT

If you deferred VAT between 20 March and 30 June 2020 and still have payments to make, you will need to pay the deferred VAT in full on or before 31 March 2021.

01 Feb 2021

Time to review your will?

Top of the to do list for many individuals is to make or update their will. Many think this is something to leave until later in life, but it is important to get things in place once property is acquired or when children come along.