Misc
19 Mar How to access government financial support – COVID-19
On 17 March, the Chancellor announced an unprecedented package of government-backed and guaranteed loans to support businesses, making available an initial £330bn of guarantees – equivalent to 15% of GDP. This was on top of a series of measures announced at Budget 2020, the government announced...
18 Mar Staff Payment Covid19
I have staff off due to coronavirus (COVID-19), what should I pay and what can I reclaim? We are receiving an extremely high number of calls in regards to paying employees statutory sick pay if they are off work due to coronavirus. We have put together...
12 Mar Budget 2020: tax rates and allowances
Tax Rates 2020 2019/20 2020/21 £ £ Income tax rates: England and Wales only (non-dividend income) 0% starting rate for savings only (note 1) Up to 5,000 Up to 5,000 20% basic rate tax 12,501-50,000 12,501-50,000 40% higher rate tax 50,001-150,000 50,001-150,000 45% additional rate tax Above 150,000 Above 150,000 Scottish rates of income tax (non-dividend income) 19% starting rate 12,501-14,549 12,501-14,585 20% basic rate tax 14,550-24,944 14,586-25,158 21% intermediate...
12 Mar March 2020 Budget
Just one month into his new role as Chancellor of the Exchequer, Rishi Sunak has delivered his first Budget Statement promising 'historic' investment in roads, railways, broadband and scientific research, as the government tries to deliver on its promise to level up the UK. Ahead...
10 Dec How to reduce inheritance tax
IHT is a tax on the value of the estate at death but also on chargeable transfers made with various reliefs available. When discussing matters with clients, care is required both during the lifetime and after death. Consider using these six tips. Be clear on the...
10 Dec SEO, How to grow your business
Getting your firm’s website to rank consistently high for key search terms takes hard work, patience and care, whatever you might hear from quick-fix SEO merchants. But there are some tweaks you can make without huge amounts of effort that, if not decisive in their own...
10 Dec Allowable expenses for small Businesses
We revisit the court case that revealed what can – and cannot – be deducted as expenses. Always look at the facts of any deductibility of expenditure and fully explore the reasons for any claim as in Daniels v HMRC where deductibility of an exotic dancer's clothing and...
10 Dec Use of home Expenses
The reliefs employees and those who are self-employed can claim when they work from home will depend on a number of conditions. Employees working from home It is a condition for tax relief under section 336 ITEPA 2003 that the expenses must be incurred ‘wholly and exclusively’...
08 Dec Childeren Tax
Subject to some exemptions, a child may have taxable income which is chargeable; however, the child will have full entitlement to personal allowances and reliefs. The rights and obligations of a child with taxable income rest with the child, although his/her representatives are able to act...