It has been announced that the Statutory Sick Pay Rebate Scheme will close on 17 March 2022, with the deadline for submitting outstanding claims being 24 March 2022. You will no longer be able to claim back the SSP for coronavirus-related absences occurring beyond 17 March 2022. From 25 March 2022, normal SSP…
In the Chancellor’s Budget on 27 October 2021 it was announced that the planned date for reducing the Annual Investment Allowance limit from £1m to £200k is being extended from 1 January 2022 to 31 March 2023. This will effect businesses who are planning on investing more than £200k in plant and machinery from January…
HMRC are writing to some individuals who started their sole trade/self-employment in 2019/20 and wish to claim the fourth and fifth self-employment income support scheme grant (SEISS). These individuals will be asked to complete some verification checks to confirm their identity and proof of their self-employment. These individuals should receive a letter from 8th…
It seems that HMRC have heard about our disappointment with Christmas parties being cancelled this year… The Employment Income Manual EIM21690 has been updated to incorporate the news that virtual events can be included when considering the £150 per person benefit in kind exemption for annual functions. The event should be an annual…
With many Christmas parties being cancelled due to the Coronavirus pandemic you may be wondering how you can say ‘Merry Christmas’ to your staff this year. Did you know there are no tax implications on gifts classed as a ‘trivial benefit’ where all of the following conditions are met: it cost £50 or less…
Earlier this week, HMRC reached out to their ‘customers’ to inform them about the information which will be required for the Coronavirus Job Retention Scheme online portal, due to be open from 20th April 2020. The online portal will allow employers to submit information to HM Revenue & Customs about furloughed workers in order…
The Association of Accounting Technicians (AAT) recently published an article focusing on the accounting trends and changes that will shape 2020 (with content from Xero). BREXIT – What will the significant changes be that will affect your business and your cashflow? Will your business have to look further into the future with management…
Throughout 2018 our Bury St Edmunds office have been executing various charity events to support Age UK Suffolk, an independent charity that offers support and services to older people in Suffolk. Just a few of the fundraisers which our Charity Committee have held include a Bacon Roll Lunch in the office; Slip Into Slippers;…
Payments on Account (POA) tend to cause confusion for individuals submitting a Self Assessment Tax Return and may result in cash flow issues for some taxpayers. POA are payments which HMRC require in advance for the current tax year, based on the liability in the previous year. You will have to make POA if…
With 5 April fast approaching, you must ensure that you send your final Full Payment Submission (FPS) on or before your employee’s final pay day within the tax year, ensuring that you tick to confirm that this is the final submission for the year on your payroll software. If you forget to tick this box,…