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Debt factoring and VAT

Debt factoring and VAT Due to the coronavirus, many businesses are experiencing cash flow issues as their customers struggle to make payments in time. A range of banks offer debt factoring as a... more


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Student Loans

Additional Type of Student loans for 2021-22 From 6 April 2021, there is a new type of undergraduate student loan that employers need to be aware of when operating payroll - the Plan 4 loan (SL... more


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Call for evidence on EMI

Call for evidence on EMI The enterprise management incentive (EMI) is a tax-advantaged share option scheme that allows companies to grant options over shares to key employees. The main advantag... more


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Making Tax Digital

Making Tax Digital As of 1 April 2021, all VAT-registered businesses that submit electronic VAT returns were required to digitally link the business records to their VAT returns. This must be d... more


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4th SEISS Grant

4th SEISS Grant The portal for making a claim for the fourth coronavirus SEISS grant opened at the end of April. Eligible businesses should have been contacted by HMRC to inform them of their p... more


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Off-payroll working

Off-payroll working The extension of the off-payroll working rules to medium-sized and large organisations finally took effect on 6 April:   The responsibility for making an employ... more


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CGT Property Return Issues

CGT Property Return issues There are two problems which have come to light, as regards the HMRC 30 Day online CGT Property Return service: Firstly, there is a problem with submitting a CGT ... more


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Working from home (WFH)

Working from home (WFH) Normally employers can pay a tax-free allowance of up to £6 per week (£26 per month) to employees required to WFH.   Employees WFH due to the pa... more


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Will my granted lease be judged as a capital receipt?

Q. I have recently granted a lease to a tenant in respect of a building out of my freehold interest. They have paid a large premium for this and will not be required to pay rent. However, an associ... more


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Is there a special exemption on CGT gains for selling personal possessions?

Q. I am looking to raise some funds by selling some personal possessions, some of which have appreciated in value quite considerably. I've heard there is a special exemption that might mean I d... more


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Can I complete monthly VAT returns?

Q. I am newly VAT-registered (voluntarily). I believe that I will usually need to pay VAT to HMRC each quarter, rather than receiving a refund. However, I have some concerns about running up arrear... more

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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