News

  1. Budget Summary

    The Chancellor of the Exchequer announced his Budget on Wednesday.  In case you missed the main points they are: Giving money away: More money for almost every government department. Increased capital allowances for business. Cheaper beer. Reduced internal Air Passenger Duty. More Universal Credit where people are working. Rate relief on hospitality and retail. Better…

  2. New Drop-Off and Collect Facility

    We’ve been doing some work on the offices and have reorganised ourselves. Next time you visit you will find reception has changed significantly.  Most importantly, there is a counter for you to drop stuff in and interact with us. We’ve knocked the place about a bit, changed the flooring, redecorated, and generally had a refresh….

  3. Inheritance Tax: Your Questions Answered

    Many people worry about having to pay inheritance tax, but in reality only a few people have to pay it. Inheritance tax (IHT) is a tax on the whole estate of someone who has died, which includes their property, possessions and money. If the estate is valued at less than £325,000 no tax is payable….

  4. Emerging from Lockdown

    The Prime Minister has now announced his plans for us to emerge from this lockdown, and we really hope they will come to fruition. This will mean substantial changes to many areas of personal and business life and, crucially, finances. If you have any concerns or questions about what the future holds for you, your…

  5. Virtual Christmas Parties Exemption in 2020

    HMRC has confirmed that a virtual Christmas party will fall within the rules for the annual parties exemption in the same way that it would for traditionally held parties.   No – it’s not a joke! To be exempt from taxation the party must: be open to all employees be annual, such as a Christmas…

  6. The Chancellor’s Winter Economic Plan

    Since the onset of the coronavirus pandemic, many businesses and individuals have benefited from a range of schemes, including furlough grants for staff unable to work, grants for the self-employed, deferral of VAT and Income Tax payments and cheap, government-backed business loans. With the second wave of coronavirus infections upon us, the whole of England…

  7. Brexit – The End of Transition is Nigh

    The UK left the EU on 31 January 2020 but all trading arrangements, including VAT, are held in suspension until the end of the transition period on 31 December 2020. Whatever deal is finally agreed between the EU and the UK government, the VAT rules for UK traders will be different from 1 January 2021,…

  8. Government Updates September 2020

    Here is a summary of the latest government updates, dated 24 September. Job Support Scheme The Job Support Scheme (JSS) is designed to give business the ability to retain staff working reduced hours, rather than make them redundant. Employees will only be eligible for the scheme if they are working at least 33% of their…

  9. More Time to Pay Taxes

    The Government has introduced an immediate deferral of upcoming Income Tax and VAT payments but the other business taxes such as PAYE and Corporation Tax remain payable on the due dates. HMRC is willing to enter ‘Time to Pay’ (TTP) arrangements where businesses or individuals are struggling to pay tax bills on their due dates….

  10. New Implementation Dates for Making Tax Digital

    As you may be aware HMRC decided to delay their plans to implement Making Tax Digital (MTD) due to the Covid-19 virus. HMRC has now announced the new implementation dates. Making Tax Digital will now be: Extended to VAT-registered businesses with turnover below the £85,000 VAT threshold from April 2022 (In other words anyone VAT…

  11. Changes to Capital Gains Tax on Private Residences

    Since April 2020 there have been two phases of changes to the tax paid on residential property sales.  The idea is to increase the tax paid from the disposal of residential property and collect this tax much more quickly. For personal taxpayer capital gains tax (CGT) is paid between 10 months and 22 months after…

  12. Coronavirus: Our Services To You

    Covid-19 Coronavirus With the increasing national concern regarding the COVID-19 coronavirus, we want to assure our clients that we are monitoring the developing situation carefully and have a plan in place to provide a continued service to clients as far as we possibly can. To read more please visit our dedicated pages here