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)…
What Now, Autumn Budget?
So, the Autumn Budget has been pushed into spring 2021, with tax rises on the cards. What should we expect in the Spring Budget? With intense speculation around tax rises to pay for the raft…
HMRC Related Scamming On The Rise
Given the amount of Covid-19 financial assistance available, it comes as no surprise that there is an increase in HMRC-related scams this year. What is worrying is that scammers have become more sophisticated; it is…
Pop Quiz on Capital Gains Tax
HMRC has published some interesting research into capital gains tax (CGT). Here are three CGT questions for you to ponder: How many individuals made enough capital gains in 2018/19 to face a CGT bill? The…
Covid related VAT reduction extended to 31 March 2020
The temporary reduced standard VAT rate of 5% for the tourism and hospitality sector was due to end on 12 January 2021, but has now been extended to 31 March 2021. You don't get that…
Chancellor Unveils Winter Economy Plan
The latest pandemic support measures are much less generous than before. Despite cancelling this year's Autumn Budget, Rishi Sunak has still made an early autumn appearance before the House of Commons to announce his ‘Winter…
When is a van a car?
The tax treatment of cars and vans is quite different, with van classification far more beneficial from both an employer and employee perspective. However, the distinction is not always clear-cut, especially where vans have been…
HMRC targets employers over CJRS claims
With reports of two-thirds of furloughed employees continuing to work during the Covid-19 lockdown, despite the initial prohibition of work as an explicit condition of furlough, it is no surprise that HMRC has already written…