Acas has published new guidance for employers and employees on the coronavirus. The guidance covers: what to do if employees do not want to go to work sick pay what to do if employers need to close the workplace other steps for employers to
More...There has been much press speculation that the Government is considering cutting higher rate tax relief for pension contributions in the March Budget. However, many Tory MPs are said to be up in arms at such a move and have been trying to quash such
More...If your total assets exceed £325,000 then the excess will usually be subject to Inheritance Tax (IHT) at 40% when you die. A reduced rate of IHT of 36% applies where 10% or more of a deceased’s net estate is left to qualifying charities
More...There is a special VAT refund scheme called the VAT Retail Export Scheme or Tax-Free Shopping that allows individuals not resident in the EU to obtain a VAT refund on goods bought in the UK and taken out of the EU. The scheme does not apply to
More...The new £20 note entered into circulation on 20 February 2020 and features the image of the artist JMW Turner. It will take a few weeks for the notes to become commonplace across the country. The new £20 note includes a number of new
More...The P9 Notice of Coding form is used to notify employers of the tax codes to use for employees. HMRC has begun to send email notifications to employers advising that the coding for the tax year starting 6 April 2020 can be viewed online. The emails
More...In most cases, property rental income must be brought into account in the year in which the income was earned, even if the invoice has not yet been paid. However, a deduction is allowed in respect of bad & doubtful debts. These are debts which
More...The VAT system is policed by HMRC and there are penalties for breaches of the legislation. There are four conditions that must be satisfied in order for an activity to be within the scope of UK VAT. These conditions are that the activity: Is a
More...Goodwill is a subject we hear about often but interestingly is rarely mentioned in legislation. In fact, the term 'goodwill' is not defined for the purposes of the Capital Gains legislation in TCGA 1992. Most definitions of goodwill are
More...Advisory fuel rates are intended to reflect actual average fuel costs and are updated quarterly. The rates can be used by employers who reimburse employees for business travel in their company cars or where employees are required to repay the cost of
More...1 March 2020 - Due date for Corporation Tax due for the year ended 31 May 2019. 2 March 2020 – Self assessment tax for 2019/19 paid after this date will incur a 5% surcharge. 19 March 2020 - PAYE and NIC deductions due for month ended 5 March
More...Following Brexit, the government has published an updated toolkit for employers on how to support their employees who are EU citizens (including EEA and Swiss citizens) to apply to stay in the UK. The content includes print and digital fact sheets,
More...As part of a review into changes to the operation of the off-payroll working rules (IR35), HMRC has announced that the changes will only apply to payments made for services provided on or after 6 April 2020. Previously, the rules would have applied
More...If you are entitled to the marriage allowance and have not yet applied, you could receive a payment of up to £1,150 from HMRC. HMRC used the occasion of Valentine’s Day to remind couples to make a claim. It is estimated that whilst 1.78
More...After a tumultuous few days in politics, it has been confirmed by the new Chancellor of the Exchequer, Rishi Sunak that the Budget will take place as planned on Wednesday 11 March 2020. There has been fevered press speculation that the new
More...There are tax implications that you will need to consider if you previously left the UK to live abroad and are now returning to live and work in the UK or are considering such a move. In most cases, if you have returned to live in the UK, you will
More...The rent-a-room scheme is a set of special rules designed to help homeowners who rent-a-room in their home. The current tax-free threshold of £7,500 per year has been in place since 6 April 2016. If you are using this scheme you should ensure
More...If you have a student loan, have finished your studies and entered the workforce you must begin to make loan repayments from the April after you have finished your studies or when your income begins to exceed the annual threshold. The annual
More...Call: 01273 420191
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