Stamp duty land tax (SDLT) costs have been reduced following the Government announcement in the Summer Statement. There is a temporary reduction in SDLT rates for residential completions that take place between 8 July 2020 and 31 March 2021, raising the nil rate threshold to £500,000 from £125,000. The reduction […]
Author Archives: Robson Laidler
21
Jul
Jul
Have you recently sold a residential property in the UK? If so, it is important you understand new tax rules, which might mean you need to report and pay Capital Gains Tax within 30 days. Over recent weeks COVID-19 has dominated the headlines and any new tax developments have […]
Blog, Financial Planning, Later Life, Pensions, Personal Finance, Retirement, Tax, Wealth
Happy 5th Birthday Pensions Freedoms
20
Jul
Jul
Can anyone remember when Pensions Freedom came in? Just me? Apparently not. The Financial Conduct Authority have just conducted an outcome review to see how pension providers have adapted to all the changes. This has been delayed because of the “awfulness” until February 2021. As a financial planner (and a […]
Blog, Financial Planning, Pensions, Personal Finance, Retirement, Tax, Wealth
Pension death benefits – right pension, right nomination, right now?
16
Jul
Jul
A reported surge* in people wanting to write or amend their wills at the start of COVID-19 (with some legal firms claiming a jump in demand of up to 76%), tells us that the pandemic has sharply focused peoples’ minds on making sure their affairs are in order and that […]
The Government has today (15.07.20) temporarily reduced the VAT rate to 5% (from 20%) in order to support the hospitality sector on certain good or services. This reduction will apply to food and non-alcoholic drinks supplied by restaurants, pubs, bars, cafes and to hot take-away food outlets. The reduced rate […]
14
Jul
Jul
Is your company expecting to make a loss as a result of the global pandemic? If so, you may be interested to learn that HMRC has recently updated its guidance relating to repayment of corporation tax based on anticipated losses. Tax repayments are possible where surplus losses made […]
Blog, Business, Tax
HMRC impose compliance and enforcement powers for false Coronavirus Job Retention Scheme claims
13
Jul
Jul
The most basic conditions of the Coronavirus Job Retention Scheme (CJRS) is that your business is / will be adversely affected by Covid-19 and that employees on furlough are not allowed to do any work whilst on furlough. A “snitch line” for false furlough claims has already seen thousands of […]
10
Jul
Jul
If home is where the heart is, homeowners are consistently at the heart of any Budget and last week’s Summer Statement proved no exception. Prior to the Chancellor Rishi Sunak’s announcement last week there were whispers of a Stamp Duty Land Tax (SDLT) slash to be introduced from Autumn […]
08
Jul
Jul
Discussing the continuing effects of Covid-19 on the economy Rishi Sunak’s Summer Economic Statement covers several important issues, which are explained in more detail below. COVID-19 has been rife with uncertainty and financial instability for many, and H M Treasury made it clear what it believed the focus of the […]
06
Jul
Jul
A NEW director has been appointed to help lead a North East accountancy firm as it sets its sights on becoming a leading business development and coaching provider, aiding businesses throughout the Covid-19 pandemic. Nick Wilson, 28, from Blyth, who holds the title of North East Accountant of the Year, […]