Client Portal

Build Your Business, and Keep More of Your Money

Chartered Accountants & Business Advisors

Call Us Today!

News

Check That Your Shares Qualify For CGT Business Asset Disposal Relief

A recent case before the tax tribunal has confirmed that all of a company’s shares are ordinary shares except those that carry a fixed rate of return. This is crucial as CGT business asset disposal (BAD) relief requires a shareholder to be entitled to at least 5% of a company’s ordinary share capital in addition […]

Read more June 15th, 2021

Not All Benefits Need To Be Reported On P11d

Despite the coronavirus lockdowns HMRC still expect P11d forms reporting expenses and benefits to be submitted by the normal 6 July deadline. Remember that reimbursed expenses no longer need to be reported where they are incurred wholly, exclusively and necessarily in the performance of the employee’s duties. Dispensations from reporting are no longer required, although […]

Read more June 15th, 2021

Advisory Fuel Rates For Company Cars June 2021

These are the suggested reimbursement rates for employees’ private mileage using their company car from 1 June 2021. Where there has been a change the previous rate is shown in brackets. For wholly electric cars there is a 4p advisory rate. However, for hybrid cars use the equivalent petrol or diesel rate. Note that for […]

Read more June 15th, 2021

Landlord Right To Rent Checks

This update replaces previous guidance issued on 20 April 2021. The temporary COVID-19 adjusted right to rent checks will now end on 20 June 2021, and from 21 June 2021 landlords will revert to face to face and physical document checks as set out in legislation and guidance. This is aligned with the easing of […]

Read more May 21st, 2021

Financial Support From Test And Trace Support Payment Scheme

The £500 Test and Trace Support Payment is for people on low incomes who have to self-isolate due to coronavirus (COVID-19). You may be eligible if you are employed or self-employed, cannot work from home, and will lose income as a result. You can only apply if you’ve been told to self-isolate by NHS Test […]

Read more May 21st, 2021

Apprenticeships during COVID-19

The government has released guidance for apprenticeship training providers (providers), employers, end-point assessment organisations (EPAOs) and apprentices. It describes: how and when apprentices can safely train and undertake an assessment in the workplace, education and assessment settings the temporary flexibilities which apply during the coronavirus (COVID-19) pandemic It should be read alongside: the safer working guidance […]

Read more May 20th, 2021

Right To Work Checks – Temporary Measures To End

Advice for employers carrying out right to work checks during the coronavirus pandemic has been updated and replaces previous guidance issued on 20 April 2021. The temporary COVID-19 adjusted right to work checks will now end on 20 June 2021, and from 21 June 2021 employers will revert to face to face and physical document […]

Read more May 20th, 2021

New “We Offer Testing To Our Staff” Scheme Launched

The new scheme for businesses offering workplace testing for staff through NHS Test and Trace has been launched across the UK. It will show customers, employees and the wider public the businesses that are going the extra mile to keep their staff and the public safe. In addition to workplace testing, business owners and staff […]

Read more May 20th, 2021

“Help To Grow” Your Business

The government’s new Help to Grow programme is now open for registrations and will launch in June. The programme will help small and medium sized businesses across the UK learn new skills, reach new customers and improve profits. Help to Grow Management scheme This offers small businesses a 12 week programme delivered by leading business […]

Read more May 20th, 2021

Employers’ NICs Relief For Employees In Freeport Tax Areas

The government have announced a new zero rate of secondary Class 1 National Insurance contributions (NICs) for eligible employers on the earnings of eligible employees working in a Freeport tax site. In Great Britain (England, Scotland and Wales), this measure will provide those employers with physical premises in a Freeport tax site (Freeport employers) with […]

Read more May 19th, 2021

HMRC Urge Businesses To Carry Out Due Diligence On Supply Chain

HMRC is warning organisations about the use of mini umbrella companies in the labour supply chain and the need to carry out due diligence to protect the organisation from financial and reputational damage. Without a careful review of their labour supply chain, the end-user could find themselves liable for Tax, National Insurance and VAT avoided […]

Read more May 19th, 2021

ONS Confirms Economy Growing

The Office for National Statistics (ONS) have published their latest figures on the economy showing that: The monthly gross domestic product (GDP) grew by 2.1% in March 2021, but remained 5.9% below its level in February 2020, which was the most recent month not affected by the coronavirus (COVID-19) pandemic. The rise in GDP was […]

Read more May 17th, 2021

Lockdown Rule Changes

From 17 May government advice is we should continue to work from home if we can and below we summarise the new relaxed lockdown rules: Gathering limits will be eased. Outdoor gatherings will be limited to 30 people and indoor gatherings will be limited to 6 people or 2 households (each household can include a […]

Read more May 17th, 2021

No Employers NICs For A Year If Hiring Ex-Military Staff

The Government have announced a one-year exemption from paying employers national insurance contributions (NICs) where military veterans are recruited by civilian employers. Employers can claim relief if they employ a veteran during the qualifying period. The qualifying period starts on the first day of the veteran’s first civilian job since leaving the regular armed forces […]

Read more May 13th, 2021

Associated Companies Count For New Corporate Tax Rates

A 25% rate of corporation tax will apply to all of a company’s profits if they exceed £250,000 from 1 April 2023. The 19% rate will continue to apply where profits are below £50,000. The marginal rate that applies between those limits will be 26.5%. Those upper and lower limits are divided by the number […]

Read more May 12th, 2021