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Industry News

Furlough Scheme changes September 2020

Furlough Scheme changes September 2020

As our readers will no doubt be aware, the Coronavirus Job Retention Scheme (CJRS) is closing on 31 October 2020. The scheme moved to a more flexible working arrangement from 1 July 2020 to

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Companies with a 31 December year end

Companies with a 31 December year end

For companies with taxable profits of up to £1.5 million the payment of any Corporation Tax is due 9 months and 1 day after the end of your accounting period. The accounting period is

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Working from home tax claim

Working from home tax claim

If you do not receive compensation from your employer you can still claim tax relief for some expenses that result from home working. HMRC will usually allow you to claim tax relief if you

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Video-witnessed wills

Video-witnessed wills

The Ministry of Justice (MoJ) has confirmed that video witnessed wills in England and Wales will be made legal during the coronavirus pandemic. The change in law to introduce this measure is

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VAT on compensation payments

VAT on compensation payments

HMRC has published a new Revenue and Customs Brief on the VAT treatment of early termination fees and similar compensation payments following recent judgments of the Court of Justice of the

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Relief for self-employed trading losses

Relief for self-employed trading losses

There are a number of tax reliefs available for self-employed taxpayers that make a loss carrying on their trade, profession or vocation (collectively referred to as a ‘trade’) and for their

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Carry Corporation Tax losses back

Carry Corporation Tax losses back

Corporation Tax relief may be available where your company or organisation makes a trading loss. The loss may be used to claim relief from Corporation Tax by offsetting the loss against

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The private pensions’ annual allowance

The private pensions’ annual allowance

The annual allowance for tax relief on pensions has been fixed at £40,000 since 6 April 2014. The annual allowance is further reduced for high earners. Since 6 April 2020, the tapered annual

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Free domestic abuse advice line for employers

Free domestic abuse advice line for employers

A new advice line for employers who are supporting employees experiencing or at risk of domestic abuse has been launched by domestic abuse charity Hestia. The Everyone’s Business Advice

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Coronavirus testing guidance for employers

Coronavirus testing guidance for employers

The government has published detailed new guidance for employers on the regulations and legal obligations relating to running internal workplace coronavirus (COVID-19) testing programmes,

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Green Homes Grants

Green Homes Grants

A reminder that home owners and landlords can now access funding to help pay for the cost of energy saving improvements. In a recent press release the Department for Business, Energy &

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Cars – it’s all online

Cars – it’s all online

If you have access to the internet there are a bewildering number of online resources that you can access to help you manage recurring tasks. This week we have listed a number of these with

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New grants for businesses affected by local lockdowns

New grants for businesses affected by local lockdowns

New grant support was announced 9 September that offers businesses in areas subject to a local lockdown a measure of financial support. In a news story posted to the GOV.UK website HM

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English plastic bag charge to double

English plastic bag charge to double

The single-use carrier bag charge came into effect in England on 5 October 2015. This introduced a minimum charge of 5p on single-use carrier bags supplied by large shops (with over 250

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Kickstart program opens in Wales

Kickstart program opens in Wales

Under the new £2 billion Kickstart scheme, employers will be able to offer young people on Universal Credit and at risk of long-term unemployment, state-subsidised work placements for six

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Companies House has new bank account

Companies House has new bank account

Companies House has announced that they have new bank details effective from 1 September 2020. This is due to a Companies House change in status from a trading fund to a central government

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Fast-tracking passport applications

Fast-tracking passport applications

Due to coronavirus disruption, it is currently taking up to six weeks to renew or replace a passport online. It can take even longer if you apply by post or if applying for a first adult

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Time to Pay

Time to Pay

Back in March 2020, as the coronavirus pandemic was just starting the government announced new emergency measures to help those businesses and self-employed people affected by COVID-19

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Taxation of grants

Taxation of grants

A wide variety of grants or subsidies are available to businesses and can be received in addition to the ordinary business income. It is important to identify these and to establish whether

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Nominating a principal private residence

Nominating a principal private residence

There is usually no Capital Gains Tax (CGT) due on a property which has been used solely as the main family residence. Conversely, an investment property which has never been used as a

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VAT – partial exemption defined

VAT – partial exemption defined

A business that incurs expenditure on taxable and exempt business activities is partially exempt for VAT purposes. This means that the business is required to make an apportionment between

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Refunds – guidance or law?

Refunds – guidance or law?

The Competition and Markets Authority (CMA) recently published further detail on its views on the law in relation to cancellations and refunds during the pandemic. It remains their view that

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Witnessing wills remotely

Witnessing wills remotely

A statutory instrument will be issued September 2020 that will legitimise the witnessing of wills by video conferencing methods. This extension to the witness process will apply from 31

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Government legal department numbers open to fraud

Government legal department numbers open to fraud

The Government Legal Departments (GLD) is warning that its general enquiry number (020 7210 8500) and switchboard number (020 7210 3000) are being used by fraudsters to try and extract money

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