Accountants who provide tax advice may be required to hold professional indemnity insurance (PII) under new laws proposed this week.
Only weeks left until the new R&D tax credit PAYE cap is introduced
From 1 April 2021, the rules regarding R&D (research and development) tax credit claims for the SME scheme are changing, which could affect some businesses’ ability to obtain the full amount of tax relief. The new PAYE cap on qualifying R&D expenditure will attempt to tighten up the R&D tax credit system by limiting the […]
Key dates for the Coronavirus Job Retention Scheme
As the Coronavirus Job Retention Scheme (CJRS) is slowly wound down by the Government, businesses must adapt their PAYE reporting and payroll function to reflect the required funding contributions. To help, we have provided a list of key dates for September and the following months to ensure you are prepared for the changes ahead: 1 […]
Key factors going into July
As the longest day of the year is behind us we look forward to the beginning of July next week. Next Wednesday is a notable date for government schemes including the VAT Deferral and Furloughing. Two of our directors recently recorded a 4 minute video on what they feel you need to be prioritising right […]
Working from home during COVID-19?
Details of how you can reclaim household expenses from the business. On Monday 16 March 2020, Prime Minister Boris Johnson told the public to work from home where possible in an attempt to contain the ongoing coronavirus outbreak in the UK. For more than 1.7 million people it was business as usual, as they already […]
Inheritance tax – considerations during COVID-19
Coronavirus has many people reflecting on their own mortality. So if you have more time on your hands during the lockdown, planning your estate may be a wise way to spend it. Benjamin Franklin observed there are only two certainties in life: death and taxes, and nothing marries the two together quite like inheritance tax. […]
Roll Out of Self Employed Grants (SEISS)
The self-employed income support scheme (SEISS) will be open for applications from 13 May. We outlined the details of the scheme previously which awards contractors and consultants cash based on previous years trading profits. This week HMRC started to contact those who it believes are entitled to claim a cash grant, telling them to be […]
Insider Tax & Business News – January 2020
Welcome to our briefing designed to bring you tax tips and news to keep you one step ahead of the taxman. We are committed to ensuring none of our clients pay a penny more in tax than is necessary and they receive useful tax and business advice and support throughout the year. Download PDF for […]
Innovate UK’s new loan scheme and the power of audacity
Following on from the success of its pilot scheme, Innovate UK has formally kicked off its Innovation Loans programme. From now until 11 September, you can apply for a share of £10m to work on highly innovative, late-stage projects. A bold move for the lending market, Innovate UK is leading the way. Far too often, […]