Blog
Will I pay tax when I sell my home?
If you own a property which has always been occupied as your main home it is likely that any capital gain realised on its sale will not be taxable because it is relieved by Private Residence Relief (PRR). If you have not always lived in the property -Private Residence...
Travel restrictions may have unexpected tax consequences due to COVID19
As a result of the travel restrictions imposed by the COVID-19 pandemic many employees have switched to remote working. This has resulted in many workers who are normally internationally mobile unexpectedly spending more time in the UK. The number of days an...
Self-Employed Income Support Scheme (SEISS) Grants: Pre-verification checks
Due to the concern about fraudulent Self-Employed Income Support Scheme (SEISS) grant claims- HMRC are operating a pre-verification process for up to 100,000 taxpayers who may be eligible for the fourth and fifth SEISS grants. Between 8 March to mid-April 2021 HMRC...
Guidance on the final two self-employed grants
Additional help for the self-employed has been announced - with the final two income support grants available until the end of September 2021. The fourth taxable grant available through the self-employed income support scheme (SEISS) covers athree-month period from 1...
The Future of UK Corporation Tax
In the Spring Budget 2021 Chancellor Rishi Sunak announced that the UK's main rate of corporation tax would increase to 25% on profits over £250,000 from April 2023. At the same time a separate small-profits tax rate of 19% will be introduced for profits up to...
Personal Tax Planning for 2021/ 22
With the financial fallout from COVID-19 over the last year being the fiscal equivalent of fighting a war at more than £280 billion we will be paying back that debt for many decades to come. The new tax year looks much the same as the previous 12 months from a...
Anticipating losses? Claim Corporation Tax Relief for your losses earlier!
If your company is anticipating losses in its current accounting period - due to the impact of COVID - you could claim Corporation Tax Relief for losses earlier. Losses could be carried back against the previous year to generate a Corporation Tax refund - but how can...
What is ‘Tax Day’?
Today 23 March 2021 we are expecting the Treasury to publish a host of consultation papers that may well propose long-term changes in UK tax policy. Much of this is expected to be about the administration of our tax system but some no doubt will propose tax changes....
Budget 2021: What it means for you your family and your business
Those of us that are working in the office today listened with baited breath to the Chancellor's 2021 Budget announcement. We all know that Coronavirus has fundamentally changed the way we live. Our economy has shrunk to its lowest level in over 300 years - it's going...
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