My Latest Blogs
7th April 2022
P11d’s, ATED & Form 42 Returns: Now due to HMRC
Although a business may have an accounting year which doesn’t end on 5 April each year, they will still be required to submit various returns to HMRC on a tax year basis. Compliance is now an extremely important aspect of any business, with deadlines, fines and indeed penalties being applied where dates are missed, or…
6th April 2022
Happy New Tax Year!!
For many working in the tax industry the 6 April is a time of celebration, of course it is not a matter of grooving the night before and counting down the clock, however it heralds the opportunities provided by the newly introduced tax legislation. At the same time there is also the reflection of what…
23rd March 2022
The Spring Statement and businesses
A Spring statement isn’t a budget, but this Spring statement felt like a mini budget in terms of the immediate announcements that will come into effect and also those that will be happening in a few months’ time. Spring Statement 2022 What has been in the Chancellor’s favour has been the strength of the UK…
8th March 2021
Budget 2021: Super Capital Allowances
In what was seen my many as a Budget lacking in ideas to kick start the economy back into life, Rishi Sunak’s announcement of a notional 30% uplift to eligible capital allowances headlined as the proverbial ‘rabbit out of the hat’. The tweaked allowances will give businesses purchasing brand new plant and machinery more tax…
11th February 2021
VAT payments deferred due to Coronavirus
If, due to Coronavirus, your business deferred VAT payments due between 20 March and 30 June 2020 and you still have payments to make, you can: pay the deferred VAT in full, on or before 31 March 2021, join the VAT deferral new payment scheme – the online service is open between 23 February and…
7th December 2020
Covid-19 – Support for the hospitality and tourism industries extended
In response to the continuing Coronavirus health emergency, the Government has extended the period during which the reduced rate of VAT will apply to the hospitality and tourism industries. The reduced rate of VAT, which came into force on 15 July 2020, will continue to apply until 31 March 2021. As a result, VAT at…
2nd December 2020
Brexit – EU VAT Refund System – Don’t miss the deadline!
UK businesses can only use the EU VAT Refund System until 11 pm on 31 March 2021. This means that claims for a refund of VAT incurred in other EU Member States for the year ended 31 December 2020 must be submitted by then. Prior to Brexit the deadline was 30 September following the end…
26th November 2020
SEISS 3rd Grant– Guidance issued on how trading conditions affect eligibility
To be eligible to claim for the third Self-Employment Income Support Scheme (SEISS) grant you must either: be trading and impacted by reduced demand due to coronavirus, or have been trading but are temporarily unable to do so due to coronavirus. To help businesses understand whether they are eligible for the 3rd SEISS…
29th September 2020
Extension to deferment of VAT due
On 24 September 2020 the Chancellor announced and extension to scheme allowing for the deferment of VAT for businesses affected by coronavirus. Businesses that took advantage of the arrangements to defer VAT payments due between 20 March and 30 June 2020 until 31 March 2021, will have the option to pay the outstanding amounts in…
10th August 2020
Covid-19 – VAT complexity of Eat Out to Help Out Scheme
From 3 to 31 August 2020 businesses that offer a discount under the The Eat Out to Help Out Scheme are able to claim the discounted amount back from the Government. Whilst on the face of it you might expect VAT only to be payable on the discounted amount, in-fact VAT is payable…