In the face of Brexit uncertainties and the recent Coronavirus outbreak the new Chancellor, Rishi Sunak, was faced with falling economic indicators, the need to boost NHS services and was consequently limited in his options to spend on plans to improve business confidence and fund infrastructure projects. Interestingly, there were a number of measures that […]

Many employed persons are drawn to the idea of running their own business. This short article sets out a few of the pros and cons of this change in status. The advantages: One of the major advantages of being self-employed is the opportunity to secure more than one income stream. When employed, we normally work […]

Most pundits agree that the growing disruption posed by the Coronavirus outbreak combined with continuing Brexit uncertainty – exactly what will our trading relationship with the EU be from January 2021 – are likely to have a dampening effect on demand and supply; a combination that will lead to a slow-down in global economic activity. […]

The Competition and Marketing Authority has published information recently that points to evidence of potential mis-selling and unfair contract terms in the leasehold housing market. Their press release is reproduced below: As part of a probe into the industry, the Competition and Markets Authority (CMA) is concerned that leasehold homeowners have been unfairly treated and […]

We have reported earlier this year that from 6 April 2020, residential property sales that are subject to capital gains tax will need to be reported to HMRC within 30 days of the sale. Any CGT due will also need to be paid in this 30 day period. Property sales affected will include: a property […]

1 March 2020 – Due date for Corporation Tax due for the year ended 31 May 2019. 2 March 2020 – Self assessment tax for 2019/19 paid after this date will incur a 5% surcharge. 19 March 2020 – PAYE and NIC deductions due for month ended 5 March 2020. (If you pay your tax […]

Pubs will benefit from £1,000 business rates discount from April 2020. The cut is on top of previously announced plans to slash the bills of small shops by 50%. In a fresh demonstration of the government’s support for communities up and down the country, a new Pubs Relief will be introduced in April, with £1,000 […]

From April 2020, the National Living Wage (NLW) and National Minimum Wage (NMW) pay rates will increase as set out below. NLW rates for workers aged 25 and over – from £8.21 to £8.72 per hour. NMW rates: workers aged 21–24 — from £7.70 to £8.20 per hour workers aged 18–20 — from £6.15 to […]

What can we expect from the budget next week? On the expenditure side, infrastructure and the NHS seem to be the two major areas for investment. HS2 and other rail improvements in the North are likely to be beneficiaries as will carbon capture and other climate related projects, for example, improving the energy efficiency of […]

In a month’s time, 5 April 2020, the 2019-20 tax year expires. After this date many of the options to utilise allowances and claim reliefs to reduce tax for 2019-20 will disappear. A number of the reliefs to consider are listed below. This is by no means an exhaustive list. Any numbers quoted refer to […]