News & Updates
The latest news from the world of accounting.
24th April 2020
Grants

Small Business Grant (£10,000): The Government will provide a one-off grant of £10,000 to businesses receiving Small Business Rate Relief (SBRF) or Rural Rate Relief (RRR) How do I access this?: Your local authority will contact you directly about this scheme in the near future if your business in receipt of these reliefs. Small Business […]

6th April 2020
Business Rate Support

Business Rates Holiday for Retails, Leisure & Hospitality Businesses & Nurseries The Government will provide English businesses in the retail,leisure and hospitality sectors with 100% business rates relief for the2020/21 tax year How do I access this?: Available for businesses of all sizes in the retail, leisure & hospitality sector & nurseries on Ofsted’s Early […]

3rd April 2020
Tax Support

VAT Deferment: The Government will defer VAT payments between 20th March & 30th June for all UK businesses, with businesses given until the end of the tax year to repay any liabilities that accumulate. How do I access this?: Available for businesses of all sizes and sectors in the UK.The Government will apply this automatically. […]

2nd April 2020
Support for Self-Employed

Self-Employed Income Support Scheme The Government will pay self-employed individuals a taxable grant worth 80% of average monthly profits over the last 2 years (up to £2500 a month) How do I access this?: Available for UK based self-employed people with a trading profit of up to £50,000, who make the majority of their income […]

2nd April 2020
April Newsletter 2020

Welcome To April's Tax Tips & News, our newsletter designed to bring you tax tips and news to keep you one step ahead of the taxman. If you need further assistance just let us know or you can send us a question for our Question and Answer Section. We are committed to ensuring none of […]

1st April 2020
Support for Business's & Charity's Staff Costs

Coronavirus Job Retention Scheme The Government will cover up to 80% of salary (up to £2,500 per month plus NI and minimum pensions auto-enrolment contributions) per employee for businesses to retain and furlough employees who would otherwise be made redundant – this will be backdated to 1st March 2020. Employees must have been hired before […]

2nd March 2020
March Newsletter

Welcome...To March's Tax Tips & News, our newsletter 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 […]

27th February 2020
Mortgage Interest Tax Relief Changes

Before 2017 mortgage interest was 100% tax deductible many landlords took advantage of this through interest-only mortgages. However, since April 2017 HMRC have begun to phase this out meaning by April 2020 you will no longer be able to claim tax relief on mortgage interest. Instead 100% of mortgage interest will qualify for the 20% […]

25th February 2020
Residential Property Tax Changes

Capital Gains Tax (CGT) As of 6th April 2020, Capital Gains Tax (CGT) on property is changing. The likelihood is that this will affect the amount of money you give to HMRC following a property disposal. From this date UK residents who sell a residential property that gives rise to a CGT liability must send […]

17th February 2020
Are you ready for the new CIS reverse charge?

The domestic reverse charge (usually referred to as the ‘reverse charge’) is changing the way VAT collection is undertaken in the building and construction industry. From the 1st October 2020, customers receiving a service in the construction industry will be required to pay the due VAT directly to HMRC (rather than the supplier). This only […]

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