There has been the usual political speculation that taxes will be increased in the forthcoming budget to pay for COVID grants and support. Leaving aside the economic arguments for and against, what planning adjustments can we make now assuming that business taxes will increase? Corporation tax It has been rumoured that corporation tax (CT) will […]

Government is to implement a new payment for people on low incomes in areas with high rates of COVID-19, who need to self-isolate and can’t work from home. Payments of up to £182 to be made to people who have tested positive for COVID-19 and their contacts. The scheme will start in Blackburn, Darwen, Pendle, […]

Online sales soared by 800% for London-based start-up, OLLY’S, after losing 40% of its monthly revenue overnight due to the Coronavirus pandemic. The following was reported on the GOV>UK website recently: Founded in his parents’ kitchen three years ago, a love of olives inspired Olly Hiscocks to create the world’s first unpasteurised olive snack pouch. […]

1 September 2020 – Due date for Corporation Tax due for the year ended 30 November 2019. 19 September 2020 – PAYE and NIC deductions due for month ended 5 September 2020. (If you pay your tax electronically the due date is 22 September 2020) 19 September 2020 – Filing deadline for the CIS300 monthly […]

From the 26 March 2020, the following rights of landlords and tenants regarding eviction apply. A summary of the provisions is set out below: The Coronavirus Act 2020 protects most tenants and secure licensees in the private and social rented sectors by putting measures in place that say where landlords do need to issue notices […]

If you are faced with making employees redundant, the terms that determine the amount payable may be written into your staff contracts of employment. Otherwise, employees will normally be entitled to statutory redundancy pay if they have been working with you for two years or more. Entitlement is usually based on: half a week’s pay […]

If you are presently registered for VAT but your turnover has dropped below £83,000 you could deregister for VAT. However, you do not have to deregister. Disadvantages and advantages of deregistration If you buy significant amounts of goods and services that include a VAT charge, then if you deregister you will not be able to […]

Your UK residence status affects whether you need to pay tax in the UK on your foreign income. For example, non-residents only pay tax on their UK income – they do not pay UK tax on their foreign income. Whereas UK residents normally pay UK tax on all their income, whether it’s from the UK […]

As readers will no doubt be aware the present Coronavirus Job Retention Scheme is due to cease at the end of October 2020. However, there is a bonus claim that certain employers can make next year if they retain employees beyond the present 31 October 2020 deadline. The Job Retention Bonus (JRB) is subject to […]

Thrifty teenagers, or rather teenagers with thrifty parents, will soon gain access to their Child Trust Fund (CTFs) savings, and some, may not even know it is there…   CTFs were originally set up for children born between 1st September 2002 and 2nd January 2011, with a live Child Benefit claim. Parents and guardians received […]