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145
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How Does The Temporary Tax Rate Affect My Business?

Q. I have recently been able to reopen my small hotel and I am selling face value gift vouchers which can be redeemed against room reservations and/or in the dining room and bar. I have previously ... more


145
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Will I have to pay tax on my state pension

Q. I am approaching retirement age and I am looking forward to receiving my state pension. Will I have to pay tax on it? A. The state retirement pension currently counts as taxable income.... more


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Applying for a Customs Grant

Applying for a Customs Grant The next phase of the customs grant scheme is now open for applications. It sees a record £50 million investment as part of the measures to accelerate growth ... more


158
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Helping Employees with Cheap Loans

Helping Employees with Cheap Loans In the current difficult economic climate, employees may need to approach their employer for financial assistance in the form of a loan. Strictly, under the l... more

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143
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HMRC Launch Consultation on NIC Holiday for Veterans

HMRC Launch Consultation on NIC Holiday for Veterans The Government currently provides a career transition package to service personnel leaving the Armed Forces which supports around 86% into e... more

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157
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Covid-19 Support: SEISS Second Claim Service Open

Covid-19 Support: SEISS Second Claim Service Open The Self-Employment Income Support Scheme (SEISS) claims service for the second and final grant opened on 17 August 2020. Individuals eligible ... more


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Self Employed Income Support Scheme (SEISS) Extension

Self Employed Income Support Scheme (SEISS) Extension General Notes The individual can make the second claim even if they did not make the first one. This may have been due to missing t... more


132
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How long do I need to keep VAT records for...

Q. How long do I need to keep VAT records for? A. VAT-registered businesses must: keep records of sales and purchases; keep a separate summary of VAT; and issue correc... more


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My father died in 2019 and my brother and I inherited a small commercial business unit...

Q. My father died in 2019 and my brother and I inherited a small commercial business unit. Probate is nearly complete now. If we sell the property in the future, will capital gains tax be payable o... more


123
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I am a sole trader trading as a graphic designer...

Q. I am a sole trader trading as a graphic designer. I am voluntarily registered for VAT and I have several commercial clients who are also registered for VAT. Due to the coronavirus outbreak my gr... more


111
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CGT Reporting Deadline

CGT Reporting Deadline Under new rules capital gains tax (CGT) on disposals of UK residential property must be reported by 31 July to avoid a penalty. Changes regarding payment of CGT, too... more

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129
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Eat Out to Help Out (EOHOS)

Eat Out to Help Out (EOHOS) The aim of EOHOS Is a Government incentive to encourage people to eat or drink in eligible establishments during the month of August 2020. To assist th... more


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VAT FRS Temporary Rate Reductions Confirmed

VAT FRS Temporary Rate Reductions Confirmed In the Government's Summer Update on 8 July 2020, the Chancellor announced a six-month reduction in the VAT rate on supplies of food and non-alco... more


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Stamp Duty Land Tax (SDLT)

Stamp Duty Land Tax (SDLT) Recent research revealed that property transactions fell by more than 50% in May and house prices have fallen for the first time in eight years. In an attem... more


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Update - Job Retention Scheme Bonus (JRSB)

Update - Job Retention Scheme Bonus (JRSB) What does the employer receive? £1,000 from the Government for each eligible employee. The claim can be made through the Gov.UK po... more