At a point during the early days of the pandemic, this author, being of a certain age, weight, and ethnic group, took the decision to get his affairs in order – the Coronavirus intensely on…
Update on Coronavirus and my services
The global COVID-19 pandemic may be with us for a while yet and as such, I would like to take the opportunity to assure my clients (and potential clients) that as my practice is cloud-based,…
Business rates review back on the table
The government committed to undertake a fundamental review of business rates in England at the Spring Budget. It has now issued a call for evidence, with views on reliefs and the ‘multiplier sort’ by 18…
COVID-19 Hit to the housing market
The COVID-19 pandemic stalled property transactions and first-time buyer mortgage applications, but now the residential property market has opened up estate agents are scrambling to deal with pent up demand. Price outlook The range of…
Insolvency Bill To Help COVID-19 Affected Businesses
A new Corporate Insolvency and Governance Bill, introduced on 20 May, will amend insolvency and company law to support businesses in distress from the impact of the COVID-19 pandemic. The Bill, to be fast-tracked through…
HMRC Pauses Inheritance Tax Investigations
HMRC’s recent suspension of IHT investigations during the Covid-19 crisis opens up a brief opportunity for executors to get their IHT accounts in order. HMRC normally investigates around 5,500 IHT cases every year, around 25%…
Empty baskets: calculating inflation under lockdown
The disappearance of normal spending habits has created problems for the statisticians who calculate the rate of inflation. Source: Office for National Statistics Inflation, as measured by the Consumer Prices Index (CPI), fell sharply in…
Deferring July’s income tax payment
HMRC is allowing your second self-assessment payment due on 31 July 2020 on account for the tax year 2019/20 to be deferred, due to the Covid-19 pandemic. This means no interest or penalties will be…
Time to look at an alternative tax?
The adoption in the UK of a transatlantic approach to income tax could appeal to a cash-strapped Chancellor. “…only the little people pay taxes.” That 1980s comment by the New York Hotel owner Leona Helmsley…
Revised furlough scheme stretched through October
The Covid-19 furlough scheme has been effectively revised into a new scheme running from 1 July until 31 October, but this comes with a level of complexity that did not exist in its original guise.…