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Unincorporated businesses

Unincorporated businesses The affected rules are those in ITA 2007, s.64, i.e. "sideways" loss relief. This permits a trader to set off losses suffered in a tax year against general i... more


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SME Brexit Support Fund

SME Brexit Support Fund A new SME Brexit Support Fund is now open for applications. The scheme provides a grant of up to £2,000 to help with the costs of the additional administration req... more

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IR35 Upper Tribunal Win

IR35 - Upper Tribunal Win HMRC lost their appeal in the high-profile Upper Tribunal IR35 case of TV presenter Kaye Adams. This was perhaps slightly unexpected as a number of established hallmar... more

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The Recovery Loan Scheme (RLS)

The Recovery Loan Scheme (RLS) What is the aim of the RLS? To enable UK businesses who have been affected by the Covid-19 pandemic to access Government backed loans from accredited lenders.... more


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Do I need to charge my residential tenant VAT?

Q. My company bought a retail premises 18 months ago and I am VAT registered. I now want to let the flat upstairs to a residential tenant. Do I need to charge her VAT? A: No, as letting residen... more

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Have I affected my retirement plans?

Q. I am 60 but still working. I have therefore avoided touching my various pension pots (which I still contribute regularly to) until recently. Last year, my son's business was struggling with ... more


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How do we charge a tenant when subletting part of our warehouse?

Q. Our company uses the cash accounting scheme. We've lost a lot of trade as a result of Brexit and Covid-19 and we're looking to sublet part of our warehouse. We have opted to tax this. We... more

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46
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Spring Budget 2021 - Community Ownership Fund (COF)

Community Ownership Fund (COF) The Government is setting up a £150 million Community Ownership Fund to enable community groups to bid for up to £250,000 to help them take over strug... more


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Spring Budget 2021 - Help to Grow Scheme

Help to Grow Scheme This scheme aims at helping SMEs (small and medium enterprises) to become more productive by providing access to some of the UK’s top business schools.   ... more


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Spring Budget 2021 - Green Policies

Green Policies Rishi announced the first ever UK Infrastructure Bank. Located in Leeds, the Bank will invest across the United Kingdom in public and private projects to finance the green indust... more


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Spring Budget 2021 - Car Benefits & Van Benefits

Car Benefits & Van Benefits Cars The car benefit charge is calculated by applying a certain percentage to the list price of the car. That 'percentage' can be based upon a number... more


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Spring Budget 2021 - VAT

VAT The taxable turnover threshold for determining whether a person must register for VAT will remain at £85,000 and the point at which a person can apply to deregister will also remain a... more

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Spring Budget 2021 - Research & Development & Patent Box

Research & Development & Patent Box The 230% Research & Development (R&D) tax relief on expenditure incurred in respect of R&D work remains in place as does the 100% R&D... more


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Spring Budget 2021 - Self-employed Trading Losses

Self-employed Trading Losses This relates to trading losses made by unincorporated businesses in tax years 2020/21 and 2021/22. Trade loss carry back will be extended from the current one year ... more


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Spring Budget 2021 - Corporate Trading Losses

Corporate Trading Losses  This relates to company accounting periods ending in the period 1 April 2020 to 31 March 2022.   The amount of trading losses which can be carried ba... more