Working parents who fall under the income threshold to claim Tax-Free Childcare as a result of Covid-19 will be allowed to continue receiving relief, it has been announced.
HMRC receives almost 55,000 tax relief claims for working from home
HM Revenue & Customs (HMRC) has received 54,800 tax relief claims from individuals for working from home using a new online portal.
Is your business missing out on tax reliefs or allowances?
Billions of pounds of tax relief go unclaimed each year, according to research. Business owners like you are missing out on potential savings, don’t be one of them. To make the tax system fairer and to incentivise certain aspects of business, such as research and development projects, the Government offers more than 1,000 tax reliefs […]
Using R&D tax credits to your advantage
Companies like yours can claim cash back from the government against a wide range of costs if they were incurred on innovation, research and development. Get your share of the £3.5 billion awarded last year. According to the Research and Development (R&D) Tax Credits Statistics September 2020, by HM Revenue & Customs (HMRC), there have […]
Self-Assessment: HMRC announces new ‘enhanced payment plans’ for self-employed
From 1 October 2020, individuals who complete Self-Assessment tax returns will now be able to divide their tax bill into monthly instalments, without speaking to an HM Revenue and Customs (HMRC) adviser first.
Could your property development be eligible for Land Remediation Relief?
By Neil Driver, Director at Davis Grant Hundreds of property developments across the UK that are undertaken on contaminated land could benefit from a unique tax relief that reduces a company’s Corporation Tax bill or provides funding via tax credits.
HMRC resumes investigations
After temporarily pausing tax investigations as COVID-19 business support measures rolled out earlier this year, HMRC has restarted probes into businesses and individuals’ tax affairs. The Revenue has also started to direct its attention towards the misuse of coronavirus support schemes, such as the furlough scheme and the self-employed income support scheme. As of 29 […]
Government loans & R&D Tax Credits
If not properly handled, being the recipient of government backed loans could cause some serious headaches for upcoming Research and Development (R&D) tax credit claims. In direct response to the Coronavirus pandemic the Government rushed out the Coronavirus Business Interruption Loan Scheme (CBILS) and the Bounce Back Loan Scheme (BBLS). Whilst very welcome these schemes […]
Tax on redundancy payments
In recent years – due to tax changes – it has become more expensive to make termination payments. With redundancies on the rise due to the coronavirus, is it time you understood how termination payments work in 2020? Beyond the human tragedy of COVID-19 is an economic one. Swathes of the UK economy have been […]