Posts Tagged: accountancy

Dividend Tax

1 day to delay tax by 12 months   What is the issue? Dividends are generally taxable on the date they were received. This sounds simple, but if the tax rate changes this can be vital to avoid overpaying tax. For example, a dividend was received on the 5th April 2020, then the tax on… Read more »

5% VAT applies to more than you think

Find out about the Government’s temporary VAT cut and how you could potentially benefit. What is it? On the 8th July, the government announced that they would temporarily reduce VAT to 5% for certain supplies for hospitality, hotels, and holidays. This reduced rate started on the 15th July, and continues to the 12th January 2021…. 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… 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… Read more »

Self-Employment Grant Two

Find out about the next Self-employment Support Grant.     What Is It? The Chancellor has announced a second grant for eligible self-employed people affected by Coronavirus. This will cover the period from June to August. The Chancellor also announced that this will be the LAST grant the government will give to people. Of the… Read more »

Coronavirus Business Aid

Find out what we know about how the Government plans to help your business through the Coronavirus Outbreak.     Coronavirus Job Retention Scheme (CJRS) CJRS means all employers will be able to access support to pay part of employee’s salaries to avoid making them redundant during this crisis. This pay will be backdated to… Read more »

Tax Expert Earns First Review on Clutch!

Accounting and financial paperwork for a company can be an additional hassle. However, with proper tax keeping and finance practices, companies can focus on maximizing their quantified sales and revenue in a highly efficient manner.    We want our clients to reach their full potential, and for them to do that, we are here to… Read more »

Claiming VAT on entertaining on Valentine’s Day

Claiming VAT on entertaining non-staff is usually not allowed, but there are certain times when you can do it.     The input VAT is usually not claimable on the costs of entertaining non-staff. This rule also applies to staff whose role is to look after the guests and make sure they enjoy themselves.   It… Read more »