News
£84 billion of R&D tax credits unclaimed – Could you be eligible for a share of this funding?
23 July 2020
Innovative businesses, both large and small, are hungry for funding to assist them as they emerge from lockdown and begin their recovery. While the Government has offered several loans and grants to COVID-stricken businesses, there is an existing tax relief that remains largely unclaimed.
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Government confirms Job Retention Bonus of £1,000
23 July 2020
During the Summer Economic Update, the Chancellor Rishi Sunak announced his Plan for Jobs, which included a new incentive for users of the Coronavirus Job Retention Scheme (CJRS) to keep furloughed workers employed until January 2021. The Job Retention Bonus (JRB) will encourage employers to bring back furloughed employees...
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Upcoming key dates for the Coronavirus Job Retention Scheme
23 July 2020
In the next few weeks, employers may need to submit additional information or change the way they manage their Coronavirus Job Retention Scheme (CJRS) claims. To help you prepare, here are some key dates and actions you may need to take: 31 July 2020 – Submit your CJRS claim for periods ending on or before 30 June 2020.
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Paying for COVID-19: Government begins exploring tax take back
23 July 2020
The Chancellor, Rishi Sunak, has commissioned the Office of Tax Simplification (OTS) to undertake a review into how Capital Gains Tax (CGT) is paid by small businesses and individuals. It is estimated that the UK Government has already incurred hundreds of billions of pounds in costs in its economic fight against the Coronavirus...
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Government confirms the next steps for the digitisation of taxation
23 July 2020
The Treasury has released new details on the next steps it intends to take as part of its long-term tax digitisation plan. Its timeline for a modernised digital tax system will see HM Revenue & Customs’ (HMRC) Making Tax Digital (MTD) programme gradually extended over the next few years to cover most businesses.
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Government publishes detailed guidance on SDLT holiday
17 July 2020
During his Plan for Jobs announcement, the Chancellor Rishi Sunak announced a temporary eight-month cut in Stamp Duty Land Tax (SDLT) that ensures there is not a charge on ‘any’ residential property transactions with a value under £500,000. The Government has achieved this by immediately lifting the lower SDLT nil rate band from...
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HM Revenue & Customs confirms first arrest in connection with furlough fraud
17 July 2020
HM Revenue & Customs (HMRC) has revealed that a 57-year-old man from Solihull in the West Midlands was arrested on 8 July on suspicion of a £495,000 furlough fraud relating to claims from the Coronavirus Job Retention Scheme (CJRS). HMRC says he is the first person to have been arrested in connection with fraudulent claims...
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Reminder: Deferral of second payment on account
17 July 2020
Those facing financial difficulty as a result of COVID-19 are being reminded that they can defer their second 2019/20 self-assessment payment on account, normally due at the end of July, until 31 January 2021. To benefit from this deferral, taxpayers do not need to contact HMRC. Simply by not paying their tax bill due by 31 July...
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HM Revenue & Customs updates Self-Employment Income Support Scheme guidance
17 July 2020
Ahead of the second round of funding for the Self-Employment Income Support Scheme (SEISS) opening for applications on 17 August, HM Revenue & Customs (HMRC) has updated its guidance documents relating to the scheme. The first round of applications for SEISS grants closed on Monday 13 July 2020 and had allowed self-employed...
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Coronavirus apprenticeships guidance updated
17 July 2020
Updated guidance from the Department for Education on apprenticeships during the Coronavirus crisis has been published and contains a number of announcements relating to employment arrangements for apprentices. These updates include confirmation that: Apprentices aged 19 and older can begin to resume on-site training;Apprentices...
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Case Studies
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A shared passion for architecture and a head for numbers
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A taste for growth, a thirst for knowledge
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Cut above the rest in personal management style
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Child's play with proactive accounts management
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Customer care is top of the list for packaging business
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A modern approach required for music moguls
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Smiles all round for dental practice
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Sometimes a business does exactly as it says on the tin
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Taxing demands with old school charm