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Brexit: UK publishes approach to Northern Ireland Protocol

The Government has published its approach to implementing the Northern Ireland Protocol, as part of meeting in full its obligations under the Withdrawal Agreement with the European Union. What is the Northern Ireland Protocol command paper? The command paper outlines how the protocol can be implemented in a pragmatic, proportionate way: One that protects the…Read More

A Guide to Tax Relief & Home Working

Home working was already becoming more commonplace, but with the outbreak of COVID-19, millions more people will be working from home, so it is important to understand the potential tax savings which can be made. In this article, we have briefly outlined the tax position for: Employees Sole traders Limited Companies 1. EMPLOYEES 1.1 –…Read More

Claim £6pw for working from home expenses

Working from home due to coronavirus? Claim £6pw tax back on extra home expenses. Millions of staff are still working from home due to the COVID-19 pandemic, with no end in sight as yet for office workers and other occupations. If you’re familiar with working from home, you’ll know that there is a variety of…Read More

Cycle scheme tax breaks for your business

What tax breaks are available to you if you provide your workforce with an eco travel/cycle scheme? There are different ways of providing cycles and safety equipment to your team: The loan of cycling equipment to employees. Providing pool cycles for general use by employees. Providing employee loans so an employee can purchase their own…Read More

SEISS Guidance for Self-Employed Clients

You may have already received, or will shortly receive from HMRC correspondence to tell you that you could be entitled to claim for the self-employed income support scheme (SEISS). This is a taxable grant of up to £7,500 that HMRC are paying people who are self-employed and have been affected by the Coronavirus. HMRC’s guidance…Read More

Claiming furlough for PAYE non-employees

As many of you know, the UK furlough scheme has now been extended to the end of October to support the workforce through the challenges of COVID-19. If you have already made a furlough claim, it’s not too late to make a new claim for others who you didn’t think were eligible. Individuals you can…Read More

SEISS Self-Employment grants available from 13 May

The UK government has launched the Self-Employment Income Support Scheme (SEISS) grant from 13 May. Support is worth up to 80% of average trading profits for those unable to work.  Challenging times for the self-employed  Grant payments of up to £7500 are expected to be sent within six days. The approval marks the biggest financial…Read More

Making an R&D Tax Relief Claim

Making an R&D claim could lead to a welcome cash-flow boost for your business. An R&D claim could be a way for your company to obtain substantial cashflow benefits. By making a claim you could reduce your Corporation Tax liabilities, generate refunds for prior year payments, or for loss-making companies, create a tax credit from…Read More

Furloughed staff offered online training

A collection of job-related online courses has been launched by the Department of Education to encourage furloughed staff to learn new skills. The ‘Skills toolkit’ will be available on the government website from Tuesday, in the form of a collection of training resources to address the digital skills gap. Courses include numeracy, coding and internet…Read More

Can COVID-19 grants affect a current R&D claim?

Can claiming the various Coronavirus related government grants and reliefs impact upon a current or future R&D claim? The UK Chancellor announced on 20 April that UK businesses driving innovation and development will be helped through the coronavirus outbreak with a £1.25 billion government support package. As with any new policy, grant, or relief, it…Read More

Pivoting a business due to COVID-19

Pivoting a business occurs when products and services no longer meet the needs of an intended market. Covid-19 is reshaping how we work and do business and has had a big impact on many SMEs in the UK. A recent study by the Office for National Statistics showed that nearly 40% of businesses in the…Read More

Government expands loan scheme for large businesses

Chancellor Rishi Sunak unveils the final details of the Coronavirus Large Businesses Interruption Loan Scheme, which will launch on April 27, 2020. The Chancellor announced a UK government-backed loan scheme for large businesses affected by Coronavirus, which has been expanded to cover all viable firms. The details are: All viable businesses with turnover of more…Read More

New Coronavirus business support finder tool

The Government has launched a new ‘support finder’ tool that will help businesses and self-employed people across the UK to quickly and easily determine what financial support is available to them during the coronavirus pandemic. The Support finder contains a new online platform that helps businesses easily access the financial support they are eligible for…Read More

Help to claim – Coronavirus Job Retention Scheme (CJRS)

HMRC issued an important update about changes to the CJRS, including changes regarding employee eligibility:      “You can claim for employees that were employed as of 19 March 2020 and were on your PAYE payroll on or before that date; this means that you will have made an RTI submission notifying us of payment of that…Read More

Capital Gains Tax Changes from April 2020

Have you sold UK property or land on or after 6 April 2020? If so, you may be required to notify HMRC within 30 days of completion and pay any tax due within that timeframe. The deadlines for filing and paying CGT arising on the disposal of an interest in a UK property changed from…Read More

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