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Important Update On VAT Returns Submissions

Following the original implementation of Making Tax Digital in April 2019, initially for VAT-registered businesses over the VAT threshold, it has been fairly quiet especially after the postponement by a year of further implementations was announced in the summer. The next wave of businesses required to register and comply with MTD are the remainder of […]

Read more November 19th, 2020

The Off-Grid Day

Blocking out a whole day once a month can work wonders for your productivity. Time management courses, books and best practice all suggest carving out some time each day to focus on being productive and working towards your goals and personal business objectives. However this often conflicts with the emails, notifications, calls and reminders that […]

Read more November 19th, 2020

Diversity In Leadership

The business case for diversity is clear – diverse teams produce better solutions to complex problems. Diversity can boost innovation and employee engagement. Businesses with greater gender and racial diversity tend to be more successful and perform very well financially. However, progress within the business community has been slow and there is still a lack […]

Read more November 18th, 2020

Details Of The Extended CJRS

What you need to do for Coronavirus Job Retention Scheme (CJRS) claims – for periods from 1 November (from HMRC announcement on 10 November) The key facts are: The CJRS is being extended until 31 March 2021. The government will review the scheme in January 2021. 30 November 2020 is the last day employers can […]

Read more November 12th, 2020

Rent Covered By Rent A Room Relief

For many property owners, the rental income will be tax free if it is within the £7,500 rent a room relief and will not even need to be reported. This applies where room(s) in the taxpayer’s main residence are rented out, typically to lodgers. Where the house is owned jointly, they would qualify for £3,750 […]

Read more November 12th, 2020

AirBNB Reporting Property Rental Details To HMRC

You may have seen in the newspapers that Airbnb will share data with HMRC about the earnings of hosts (those who let out property) on its UK platform in the years 2017/18 and 2018/19. It is anticipated that HMRC will use this data to open enquiries into the tax affairs of individuals who have not […]

Read more November 12th, 2020

CGT Business Asset Disposal Relief Lifetime Limit Just £1 Million

In the March 2021 Budget, it was announced that CGT Entrepreneurs’ relief (ER) was replaced by CGT Business Asset Disposal relief (BADR) for disposals on or after 11 March 2020. It was also announced that the 10% CGT rate would only apply to the first £1 million of qualifying gains in the taxpayer’s lifetime and […]

Read more November 11th, 2020

More Time To Pay Tax Due On 31 January 2021

Those taxpayers who may have difficulty paying the tax due under self-assessment on 31 January 2021 can agree more time to pay with HMRC provided the amount outstanding is no more than £30,000. The government have already agreed that amounts due under self-assessment on 31 July 2020 could be deferred until 31 January 2021, but […]

Read more November 11th, 2020

How The New Job Support Scheme Works

Update 2 November 2020: On 31 October the Prime Minister announced the second lockdown in England. This lockdown will start from 00:01 Thursday 5 November and last 4 weeks until Wednesday 2 December. This has meant that the end of the Coronavirus Job Retention Scheme (CJRS) has now been delayed until December. To find how […]

Read more October 30th, 2020

The Wellbeing Benefits Of Meditation Breaks

Building in a short meditation break into your working day can help you to feel sharper, more refreshed and energised. The modern workplace is mentally and physically demanding. As business has become more global and complex, we are constantly juggling priorities, multi-tasking and chasing deadlines. Depending on your job, you will experience varying degrees of […]

Read more October 26th, 2020

Protect Your Business Against Fraud

In these uncertain times, businesses are combatting an increased amount of fraud. It is more important now more than ever with the rise of those working from home and accessing secure business networks. Throughout recent months, there have been widespread reports of an increase in fraudulent websites, charity scams and fake emails purporting to be […]

Read more October 26th, 2020

Project Management – Keeping On Track

Project management in a time of remote working can be tough. So how can you keep a big project on track when you are managing conflicting priorities. At the beginning, managing a big project can be exciting and everyone wants to get involved. However, as time goes by, other priorities can prove distracting. Maintaining focus […]

Read more October 26th, 2020

ESG – What’s It All About?

Environmental, Social and Governance (ESG) criteria are a set of standards for a company’s operations. There is growing interest in environmental, social and governance (ESG) considerations in the business community. Many people have strong views and expectations when it comes to corporate behaviour and at the same time an appreciation that businesses are part of […]

Read more October 26th, 2020

Extention Of Self-Employed Income Support Scheme

The Self-Employment Income Support Scheme (SEISS) allowed you to claim a first taxable grant. Applications for the first grant closed on 13 July 2020. The second taxable grant is worth 70% of your average monthly trading profits, paid out in a single instalment covering 3 months’ worth of profits, and capped at £6,570 in total. […]

Read more October 16th, 2020

Job Support Scheme For Companies Required To Close

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 9 October. Under the expansion, firms whose premises are legally required to shut for some period over winter as part of local or national restrictions will […]

Read more October 16th, 2020