Find out how the Government’s Covid-19 tax extension could affect you. What is it? If you are self-employed, and have to pay tax above a threshold amount, you will have to make payments of account towards your tax next year. The second of these payments is normally due on the 31st July, however, due to… Read more »
Posts Categorized: Friday Tax Tip’s
£20 million boost to business
Find out about the Government’s new £20 million grant. What is it? The Government has announced a £20 million scheme to help smaller businesses access new technologies and professional advice to help them get back on track after the Coronavirus. The grants will range between £1,000 and £5,000 each and will be fully funded by the… Read more »
Green Homes Grant – Too Good to be True?
Find out about the Government’s new Green Homes Grant, and what it could mean for you! What is it? In July, the Chancellor, Rishi Sunak, accounced the Green Homes Grant. The Grant will provide £2 billion for people across England and Wales to improve their homes to reduce carbon emissions. The scheme will start in… Read more »
Get back on your bike!
Find out about the Government’s new “Fix Your Bike” initiative, which aims to get the country cycling! What is it? The Government is handing out thousands of £50 vouchers for people to get their bikes fixed. The hope is that this will boost the retail sector and get cash flowing again, as well as improving… Read more »
FHL Capital Allowances
Find out about how FHLs work for tax purposes in our tax tip. What is it? Over the past few years, Airbnb has become an essential part of the holiday industry. The way Airbnb works it that the property owner can rent out their property, or even just a room, on a short-term basis. Many… Read more »
Golden Arches Deal
Find out how the Governments Eat Out to Help Out scheme can save you money on your next meal out. What is it? This is the new Government scheme where you can get a 50% discount between Monday and Wednesday each week. These discounts are capped at £10 per person each time. However, there is… Read more »
Amnesty for Furlough Breaches
Find out about the Government’s amnesty for Furlough rule breakers. What are the furlough rules? If an employee is furloughed then they cannot undertake remunerative work for the employer. This means that they cannot do any work for that employer, or a company linked to that employer. However, they can take part in training, they… Read more »
Electric Company Cars
Find out why electric company cars could be the most tax efficient option. Tax on company cars If you drive a company car then you will face a tax on the value of this as it is treated as a benefit in kind. The higher the pollution of the car, the greater the charge. From the… Read more »
Can Evolution and Innovation Reduce Tax?
Could you be missing out on tax relief by misinterpreting Evolution and Innovation? Are we Innovators? If you ask most business owners if their business is at the forefront of innovation they will probably say no. However, if you ask them whether the business has kept up with the market trends to keep commercially viable,… Read more »
Tax relief on pension contributions
Following HMRC’s victory in court they could reclaim millions of pounds in tax. What contributions are there? If you are a UK taxpayer you can get tax relief on pension contributions of up to 100% of you earnings, or £40,000 whichever is lower. This means that some money that would otherwise go the tax man… Read more »