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Tax Tips – News from HMRC – for Entrepreneurs & Individuals
(4 Minute Read) What is super deduction tax? The Chancellor announced a new capital allowance, known as the Super-Deduction. This offers tax relief at 130% of the cost of new plant and machinery. This is available from the 1st April
(4 Minute Read) What is a SEISS Grant? The government’s Self-employment Income Support Scheme (SEISS) can be described as the self-employed version of the Coronavirus Job Retention Scheme (CJRS) for employed people. While you’ll still owe Income Tax and National Insurance on any money
(7 Minute Read) What is a tax on cryptocurrency? In the UK, HMRC treats tax on cryptocurrency like stocks, and so any realised gains are subject to Capital Gains Tax. You can cash in, or give away, £12,300 worth of
(2 Minute Read) How has Brexit affected the supply of services? Since Brexit the transition period, the VAT rules for the supply of services have changed. Whilst not as complicated as the rules on the supply of good, they still
This page is not intended to constitute tax advice. The information provided in these documents are based on our understanding of current tax law; however, we do not represent or warrant the accuracy of the information contained herein, and any information provided may be incomplete or condensed. Furthermore, the suggestions contained within this document are for discussion purposes only and should not be relied on. You should seek formal tax advice before proceeding with any of the suggestions contained in these documents.