A recent report could herald changes to capital gains tax. Last July the Chancellor asked the Office of Tax Simplification (OTS) to undertake a review of capital gains tax (CGT) “in relation to individuals and…
Changes to the National Minimum and Living Wages
One of the announcements to come out of the Chancellor’s Spending Review was welcome increases to minimum wages. From 1 April 2021, the National Living Wage will get a 19p increase, going up to £8.91…
Tougher criteria for third SEISS grant
Applications for the third Self-Employment Income Support Scheme (SEISS) grant opened from 30 November, and you have until 29 January 2021 to make a claim. Be warned, however, that some of the conditions for this…
Surviving Winter In the Midst of A Pandemic
A recent survey of small businesses has revealed that only a quarter of them are confident of their survival into 2021, with many worried about cash flow. Those businesses that took out Bounce Back Loans…
Known Knowns and Not knowing What You Don’t Know
One of my favourite quotes from the Bush II administration (and there were a few) is the famous quote from then Secretary of Defence, Donald Rumsfeld who famously said: "Reports that say that something hasn't…
Friday Afternoon Meanderings; What Is The Future of The Company Car Benefit?
It's not often I get nostalgic, but every once in a while, I harken back to my days in the Revenue (now "HMRC") and in practice as a tax consultant; to a time when the…
Brain Teaser For The Self Employed – Thinking of Retiring?
My regular readers will know that I like to ponder out loud, my meandering musings in my blogs, so they won't be surprised I've come up with another quick quiz: Are you self-employed? If so,…
Claiming Tax Relief for Working From Home Expenses Just Got Easier….!
To assist taxpayers, HMRC has launched an online portal for the making of working from home expenses incurred during the pandemic. From 6 April 2020, employees can claim a tax-free amount of £6 a week…
Self-Employed Granted Furlough Extension
Two further grants under the SEISS were announced in September and have now been updated. Following the announcement last week, of a second lockdown, the government’s new package of support measures announced in the Chancellor’s…
Winter Blues: Furlough Scheme Version 2.0
With the announcement of another national lockdown, the furlough scheme has been extended for a further month from 1 November until 2 December. The extension of financial support under the Coronavirus Job Retention Scheme (CJRS)…