Due to increased activity by fraudsters during the pandemic as they attempt to illegally access Covid-19 grants and loans, HMRC has decided to be more wary when submitting tax (including VAT) payments to taxpayers. Accordingly, HMRC is now writing to taxpayers who have claimed a recent tax refund that is […]
Category Archives: Tax
30
Mar
Mar
After the excitement of the Budget and the issue of the Finance Bill, 23rd March was billed as “Tax Day” with the government issuing a raft of consultations and policies. In the end, the day was – correctly – overshadowed by the anniversary of the first Covid-19 lockdown, but as […]
29
Mar
Mar
One of the most striking additions to the March 2021’s Budget Announcement was the introduction of a new “Super Deduction” which offers a 130% writing down allowance on qualifying investments. Although this was heralded as the “biggest business tax cut in British history”, do the headlines translate to big tax […]
18
Mar
Mar
HMRC are now asking certain self-employed people to prove that they are still in business before they can claim the next SEISS grant. This is only for those who have indicated that their business ceased trading in the period from 6 April 2018 to 5 April 2020. A pause in […]
16
Mar
Mar
The principle behind our Business Accelerator service is the “Now, Where, How” framework, which helps businesses and individuals facilitate growth by working through three questions. This can be universally applied to clients who are eligible for Research and Development claims: Where are we right NOW? WHERE do we want to […]
Blog, Business, Tax, Taxable Benefits, Uncategorised
Tapered annual allowance – will high earners contribute more?
09
Mar
Mar
The 2020 Budget increased the scope for many high earners to make a bigger pension contribution in the tax year ending 5 April 2021. The annual allowance income limit was increased to £200,000, significantly reducing the number of people affected by the tapered annual allowance. The availability of a full […]
04
Mar
Mar
The portal to allow you to pay VAT deferred due to Covid-19 is now open If you deferred paying any VAT between 20 March 2020 and 30 June 2020 you can now:- pay the deferred VAT in full, on or before 31 March 2021 join the VAT deferral new payment scheme […]
04
Mar
Mar
Chancellor Rishi Sunak published the second full Budget since the start of the Coronavirus outbreak on Wednesday 3 March 2021. So, what does it mean for the UK’s taxation landscape? Almost 12 months on, the Budget laid bare the economic impact of COVID-19 and how Sunak intends to get economic […]
02
Mar
Mar
There is a general impression, both in mainstream media and, more importantly, within HMRC, that up to 10% of claims for CJRS may be “inaccurate.” HMRC has announced that it will be enquiring into claims and it anticipates that about 25% of all claims will be looked into. Whilst we […]
15
Feb
Feb
With a little glowing light at the end this long tunnel, we want to bring hope and open your eyes to tax advice options that until now you might not have considered for your business. More options than you realise. You’re probably feeling like you’ve exhausted all of the support, […]