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Tax Advice

VAT deferral and enhanced Time to Pay for self-assessment

20th October 2020 | Written by In Accountancy | Categories : News, Tax Advice
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VAT deferral and enhanced Time to Pay for self-assessment

VAT Deferral – Over half a million businesses deferred VAT payments, which were due in March to June 2020, with these payments becoming due at the end of March 2021. As part of the Winter Economy Plan the government has
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The VAT reverse charge

14th October 2020 | Written by In Accountancy | Categories : News, Tax Advice
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The VAT reverse charge

HMRC has issued detailed guidance on the domestic reverse charge changes scheduled for 1 March 2021. The reverse charge represents part of a government clampdown on VAT fraud. Large amounts of VAT are lost through ‘missing trader’ fraud. As part
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Self Assessment Tax Deferral – OPT IN!

5th October 2020 | Written by In Accountancy | Categories : CoronaVirus, Personal Tax, Small Business Advice, Tax Advice
Tagged in: self assessment,
Self Assessment Tax Deferral – OPT IN!

The Self Assessment Tax Deferral outlined in Rishi Sunak’s Winter Economy Plan last month will NOT be automatically applied. In addition to the news that the deferral for VAT payments outlined in Rishi Sunak’s Winter Economy Plan would not be
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Winter Economy Plan

24th September 2020 | Written by In Accountancy | Categories : CoronaVirus, Limited Companies, News, Personal Tax, Small Business Advice, Sole Traders, Tax Advice
Tagged in: coronavirus, covid-19,
Winter Economy Plan

Rishi Sunak outlined his Winter Economy Plan this afternoon – below I have summarised what we know so far and what exactly that means for our small business clients. Winter economy plan – As not everything will apply to everyone,
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Self Assessment deadlines

23rd September 2020 | Written by In Accountancy | Categories : Personal Tax, Small Business Advice, Sole Traders, Tax Advice
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Self Assessment deadlines

Two self assessment deadlines are approaching: 5th October 2020 For those individuals who have not previously completed a tax return but need to report a liability for 2019/20. 31st October 2020 For those individuals who have previously submitted ‘paper’ self
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How do I close my Limited Company?

23rd September 2020 | Written by In Accountancy | Categories : CoronaVirus, Limited Companies, News, Small Business Advice, Tax Advice
Tagged in: HMRC,
How do I close my Limited Company?

How do I close my limited company is a question we have been asked multiple times over recent months, and for a variety of reasons. So maybe the first question to answer is why directors are considering closing their limited
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Business Mileage Allowance

21st September 2020 | Written by In Accountancy | Categories : Limited Companies, News, Small Business Advice, Sole Traders, Tax Advice
Tagged in: business mileage,
Business Mileage Allowance

Business Mileage Allowance – How does it work and what can you claim? Business owners frequently ask us whether they can claim for all the fuel they use in their personal vehicle because they use it for business purposes. But
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Subsistence Allowance – How to reduce that Mound of Receipts!

16th September 2020 | Written by In Accountancy | Categories : Limited Companies, Personal Tax, Small Business Advice, Sole Traders, Tax Advice
Subsistence Allowance – How to reduce that Mound of Receipts!

Subsistence Allowance – How to deal with that mound of receipts.

Fed up with dealing with multiple expenses and all those itty bitty receipts for meal deals, coffees and fast food?

Subsistence allowance…


Redundancy packages and tax liability

10th September 2020 | Written by In Accountancy | Categories : CoronaVirus, News, Pensions and Payroll, Personal Tax, Tax Advice
Tagged in: redundancy,
Redundancy packages and tax liability

Redundancy packages are unfortunately at the front of many minds at the moment, with many people asking “Will the taxman get his hands on…


Chancellor asks OTS to review capital gains tax

19th August 2020 | Written by In Accountancy | Categories : News, Personal Tax, Tax Advice
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Chancellor asks OTS to review capital gains tax

Chancellor Rishi Sunak has asked the Office of Tax Simplification (OTS) to carry out a thorough review of capital gains tax (CGT). In a letter to the OTS, the Chancellor requested that the independent office review CGT and aspects of
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Treasury sets out next steps for HMRC Making Tax Digital

14th August 2020 | Written by In Accountancy | Categories : News, Personal Tax, Tax Advice
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Treasury sets out next steps for HMRC Making Tax Digital

On 21 July, the Treasury set out the next steps in its plan to extend Making Tax Digital (MTD) to all businesses and those taxpayers that file self assessment returns. Currently, businesses above the VAT threshold of £85,000 are required
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CJRS Changes and Bonus, Phase 2 SEISS Funding and more…

11th August 2020 | Written by In Accountancy | Categories : CoronaVirus, Limited Companies, News, Small Business Advice, Sole Traders, Tax Advice
Tagged in: coronavirus, covid-19,
CJRS Changes and Bonus, Phase 2 SEISS Funding and more…

It’s a while since I’ve written, so I thought it might be time to bring you up to date with some of the changes coming up, particularly in relation to the Coronavirus Job Retention Scheme (CJRS) and the second round
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