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HMRC confirms MTD for corporation tax to be mandated from 2026

7th December 2020 | Written by In Accountancy | Categories : Client News, Limited Companies, News
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HMRC confirms MTD for corporation tax to be mandated from 2026

In a new consultation HMRC has confirmed that Making Tax Digital for corporation tax (MTD for CT) will not be implemented until 2026 ‘at the earliest’. The consultation considers how the principles created for MTD could be established for companies
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£1 million Annual Investment Allowance cap extended

4th December 2020 | Written by In Accountancy | Categories : Limited Companies, News
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£1 million Annual Investment Allowance cap extended

The Treasury has confirmed that the £1 million cap on the Annual Investment Allowance (AIA) is to be extended for an additional year as the government continues to look at ways to stimulate the economy. The AIA provides a tax
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Electric Vehicles – To buy or not to buy??

4th December 2020 | Written by In Accountancy | Categories : Limited Companies, News, Personal Tax, Small Business Advice, Tax Advice
Tagged in: Electric Vehicles, EV,
Electric Vehicles – To buy or not to buy??

Or should we say to lease or not to lease?? In the company, or keep it personal?? Have you guessed what I’m talking about yet? Well, probably as it’s in the title, which we have to do from an SEO
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Crown Preference – what you need to know!

30th November 2020 | Written by In Accountancy | Categories : Construction Industry, Limited Companies, News, Small Business Advice, Tax Advice
Tagged in: insolvency, Tax,
Crown Preference – what you need to know!

What is Crown preference? Why does it make a difference? Will it impact a personal guarantee? In the World of Covid, with Brexit around the corner, it is easy to forget that there is another change that will impact the
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ATT issues last call for firms seeking to use increase in Annual Investment Allowance

30th November 2020 | Written by In Accountancy | Categories : News
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ATT issues last call for firms seeking to use increase in Annual Investment Allowance

The Association of Taxation Technicians (ATT) has issued a last call for businesses looking to make use of the increase in Annual Investment Allowance (AIA). The AIA will be reduced from £1 million to £200,000 from 1 January 2021. Businesses
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Brexit imports and exports

27th November 2020 | Written by In Accountancy | Categories : Limited Companies, News, Small Business Advice, Sole Traders, Tax Advice
Tagged in: Brexit, export, import,
Brexit imports and exports

From 1 January 2021, the UK will operate a full external border with the EU, which will entail major changes for imports and exports to and from the trading bloc. From 1 January 2021, declarations will be needed to import
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Tax relief for working at home

25th November 2020 | Written by In Accountancy | Categories : CoronaVirus, Limited Companies, News, Personal Tax, Small Business Advice, Sole Traders, Tax Advice
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Tax relief for working at home

HMRC has received more than 54,800 claims from taxpayers using a new online portal which allows workers to claim tax relief for working at home. From 6 April 2020, employers have been able to pay employees up to £6 a
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Separation, divorce and tax…

24th November 2020 | Written by In Accountancy | Categories : CoronaVirus, News, Personal Tax, Small Business Advice, Tax Advice
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Separation, divorce and tax…

2020 has as we all know been one hell of a year. But it’s not just people’s physical and mental health, our NHS, jobs, businesses and finances which have been impacted.  Relationships and families have been hard hit, having been
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Self-assessment customers to benefit from enhanced payment plans

23rd November 2020 | Written by In Accountancy | Categories : News, Personal Tax, Small Business Advice, Sole Traders, Tax Advice
Tagged in: self assessment,
Self-assessment customers to benefit from enhanced payment plans

Self-assessment taxpayers are now able to benefit from enhanced payment plans and can apply online for additional support to help spread their tax bill into monthly payments. The online payment plan service was already able to set up instalment arrangements
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Chancellor approves grants for businesses closed by lockdown

21st November 2020 | Written by In Accountancy | Categories : CoronaVirus, Limited Companies, News, Small Business Advice, Sole Traders
Tagged in: GRANTS,
Chancellor approves grants for businesses closed by lockdown

Chancellor Rishi Sunak has announced approved additional funding for cash grants to support businesses required to close in England due to the lockdown. Those businesses affected will be eligible for the following: For properties with a rateable value of £15,000
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HMRC Employer Bulletin October 2020

20th November 2020 | Written by In Accountancy | Categories : Limited Companies, News, Pensions and Payroll, Small Business Advice
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HMRC Employer Bulletin October 2020

HMRC has published the latest issue of the Employer Bulletin. The October issue has information on various topics including: Coronavirus support schemes and what employers need to do from November onwards National Insurance Number delays Guidance on off payroll working
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Increased support made available for the self-employed

19th November 2020 | Written by In Accountancy | Categories : CoronaVirus, News, Personal Tax, Small Business Advice, Sole Traders
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Increased support made available for the self-employed

The government has increased the support available to self-employed workers and extended its emergency business loan schemes as the UK heads for a second national lockdown. On 5 November Rishi Sunak announced an increase  in the level of the third
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