By setting up an online childcare account, you can get a government top-up to help with the costs of childcare. However, thousands are missing out on this payment. Tax-free childcare is worth up to £500…
Brain teaser: should you incorporate?
The planned increase in corporation tax has changed some of the mathematics on incorporation. The Budget announced a significant change to corporation tax from 2023: Small companies, with profits of up to £50,000, would continue…
Changing tax payments for SMEs
As making tax digital extends to businesses and landlords from April 2023, the government is considering whether to increase the frequency of tax payments, both for the self-employed and companies. The recently published consultation is…
“Hear it Not, Duncan……..
....for it is knell that summons thee to heaven or to hell." I know: not quite the cheerful entry to a blog, however, those immortal words from my favourite Shakespeare play: uttered by Macbeth on…
The Clock’s Ticking: Covid VAT deferral – new payment scheme
Businesses that deferred VAT payments due between 20 March and 30 June 2020, and cannot afford to pay by 31 March 2021, have the option of joining a new scheme allowing them to pay the…
Businesses prepare for long term tax hike
The 3 March Budget provided an immediate sweetener for businesses in the form of a temporary extension to carry back of trading losses, plus, for companies only, a temporary super-deduction for investment in plant and…
Covid-19 relief measures extended again
The latest, and hopefully last, lockdown is not due to be completely lifted until at least 21 June, so it was no surprise to see Covid-19 relief measures extended in the Budget on 3 March.…
The Spring 2021 Budget – still some surprises
A quiet turning of the tax screw. Just before the Budget arrived on 3 March, it seemed as if the Chancellor would have nothing to say that was not already public knowledge. However, while some…
Get Ready for 2021-2022
Taking some time to start planning for the 2021/22 tax year might be worth the effort. While there is often a focus on planning for the end of the tax year, much less attention is…
CIS: VAT Reverse Charge: Rules from March 2021
The VAT domestic reverse charge will finally apply to most supplies of building and construction services from 1 March 2021. The rules, whose implementation have been postponed twice, cover standard and reduced rate VAT supplies…