Increasing complexity of tax legislation calls for market leading corporate and private client tax planning services.

There are a number of changes that may affect your household finances taking effect in April 2021 including tax rates, increases to household outgoings and changes to COVID related loan repayments agreements. This article covers some of the pending changes.

Whether you are considering retirement, looking for the next challenge, or for any number of other reasons, the decision to sell your business is one of the most important you’ll make. Maximising the return on your hard work and securing your legacy takes careful planning, and whatever stage of its lifecycle your business ownership is currently at, a focus on your exit plans will add value.

The CIO or IT Director is usually the most senior IT member of a business responsible for the management, implementation, and usability of information and computer technologies.  In recent times this role has evolved not only to be responsible for the current state IT systems but also to define and lead the IT strategy of a business. 

For accounting periods beginning on or after 1 April 2021, the payable R&D Tax Credit for SMEs will be restricted

The Optional Remuneration Arrangements (OpRA) rules were introduced on 6 April 2017 and changed the tax position for employees receiving most benefits via a salary sacrifice arrangement, or instances where there is an option between the employee receiving either a cash or benefit as part of their package.

In the Chancellor’s recent Budget statement, he announced the pending launch of the Restart Grant Scheme. The is effectively a £5bn grant kitty aimed at retail, hospitality and leisure sector businesses to tackle the fallout of the COVID pandemic and support them until the planned reopening.

The Chancellor put forward his Budget today (3rd March) in what was one of the most anticipated statements of its type in recent years.

There were rumours of tax hikes being introduced in the short term but it seems these will be phased in, the first of these being an increase to Corporation Tax in 2023

The SME Brexit Support Fund will soon open for applications. This fund will give businesses up to £2,000 to support training or professional advice on the following areas:

The CIS VAT domestic reverse charge measure will apply to supplies of construction work from 1 March 2021. The measure was due to commence in October 2019 and has been delayed twice due to Brexit and the Coronavirus.

As of 1st January 2021, the transitional arrangements for the supply of goods and services between the UK and the EU has ceased. Agreement has been reached on a post-transition trade agreement, but this does not prevent the UK from leaving the EU VAT regime. As a consequence, there are a number of ways in which the treatment of VAT on transactions with the EU have changed.

With the 2021/22 tax year budget having been delayed to March 2021, business owners, investors and landlords have a narrow opportunity to plan in anticipation of potentially material tax hikes.

The Chancellor announced further extensions to the CJRS and a 3rd SEISS today (5 November 2020).

The government’s Job Support Scheme (JSS) will be expanded to protect jobs and support businesses required to close their doors as a result of coronavirus restrictions, the Chancellor announced today, 9 October.

The Chancellor Rishi Sunak today outlined additional government support to provide certainty to businesses and workers impacted by coronavirus across the UK.

Applications for the second and final Self-Employment Income Support Scheme grant are now open. If you’re eligible and your business has been adversely affected on or after 14 July 2020, you must make your claim for the second grant on or before 19 October 2020.

The Coronavirus Job Retention Scheme also known as the furlough scheme will be changing from 1 October 2020. We have compiled a review of the core elements.

Listen to our recent podcast which we hope you find useful and interesting. This episode explores whether you can claim and how to claim for areas including motor expenses, subscriptions, home internet, mobile phones and much more.

A common query we are receiving recently is surrounding staff working from home due to the current situation. We have therefore set out the general position for both the employer and employee.