Blog

VAT reduction for UK hospitality holiday accommodation and visitor attractions

Aug 10, 2020

As further establishments begin to open their doors again, the Government are continuing to provide financial support to get UK businesses back up and running, while also encouraging the public to leave their homes and get back to some form of normality. The...

Second grant to help the self-employed during Covid-19

Aug 4, 2020

Self-Employment Income Support Scheme (SEISS); Second grant to help self-employed business owners affected by Covid-19 As we take steps to ease out of lockdown, COVID-19 continues to have a large impact on many businesses. However, there is good news for some...

The Treasury has announced plans to extend the Making Tax Digital (MTD) initiative to more businesses and individuals ….

Jul 22, 2020

HMRCs ambition is to bring the UK's tax system into the 21stcentury by transforming the administration of our taxes to make it more efficient, more effective and easier for taxpayers to get it right. At present, businesses above the VAT threshold of £85,000 are...

Residential property tax update

Jul 16, 2020

A temporary reduction in Stamp Duty Land Tax (SDLT, saving up to £15,000 on new property purchases which complete between now and 31 March 2021, is welcomed after little activity this spring. Thereafter, the pre 8 July 2020 SDLT rates will be reinstated and it has...

COVID-19: The Coronavirus Job Retention Scheme

Jul 16, 2020

A lot has changed since we were advised to stay home in mid-March. The introduction of the Coronavirus Job Retention Scheme encouraged businesses who were not able to operate (or operate with minimal staff) to furlough staff and claim assistance from the government....

The economic impact of COVID-19: what does it mean for jobs, businesses and tax?

Jul 9, 2020

Rishi Sunak announces further measures as part of a 'mini budget' for the next phase to the recovery from coronavirus. The following announcements for businesses were made: VAT cut from 20% down to 5% on supplies of food and non-alcoholic drinks from pubs,...

Can I claim a VAT refund for VAT paid during the Coronavirus pandemic?

Jul 3, 2020

If you missed the opportunity to defer your VAT payments between 20 March 2020 and 30 June 2020, you may be able to claim a refund. Back in March, one of the Government 's responses to support businesses during the Coronavirus pandemic was to defer VAT payments due...

Coronavirus is changing business: It’s a new world out there what is happening in yours?

Jun 18, 2020

As many businesses prepare to re-open after a period of reflection, it's time to welcome and embrace a new world. There has been an intense period of adjustment over the last 11 weeks or so by everyone to ensure businesses survive and staff retain their positions. The...

Your Wills and the future of Inheritance Tax

Jun 15, 2020

Does your Will reflect your current wishes and maximise current Inheritance Tax (IHT) reliefs and exemptions available? The Office of Tax Simplification and The All-Party Parliamentary Group for Inheritance and Intergenerational Fairness are calling for a shake-up of...