(4 Minute Read) Key information on pension contributions! What is it? 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 will instead go to your pension… Read more »
(4 Minute Read) Save money on your Bounce Back Loan! What is it? The Chancellor has announced new ways for your Bounce Back Loan (BBL) repayments to become more flexible. These are the “Pay as You Grow” options, and will help to protect businesses though the COVID-19 pandemic, and the vaccine roll out. The BBL… Read more »
(3 Minute Read) The holiday that could save you money! What is it? In July 2020 the Chancellor, our mate Rishi Sunak, announced an SDLT holiday. This is good news for people buying property, but also for spouses transferring property between themselves. Normally, if spouses want to transfer property between themselves then this is not… Read more »
(4 Minute Read) What help you can claim?… What help is out there? Since the most recent lockdown started on the 5th January 2021, the Government has brought out several schemes to help businesses. The three main grants are: Local Restrictions Support Grant (LRSG) Additional Restrictions Grant (ARG) Closed Business Lockdown Payment top-up grants Find… Read more »
(2 Minute Read) Tax relief on unwanted Christmas gifts! What is it? If you’ve got some unwanted presents you could claim tax relief for them. To do this you can’t just give the unwanted socks to charity. This is because the legislation for the Gift Aid scheme says it is “Relief for some gifts of… Read more »
(2 Minute Read) Receive more money from our friend Sunak… What is it? The Chancellor has annouced a new £4.6 billion support deal for the retail, hospitality and leisure sectors during the current lockdown. Due to the lockdown non-essential businesses have been forced to close until the 15th February at the earliest. Businesses forced to… Read more »
(3 Minute Read) Get funding for recruitment, IT, and training… What is it? A new Government grant to help businesses complete customs declarations. The grant will give you £3,000 towards recruitment costs for each new employee, though upfront costs won’t be covered for employees being redeployed in the business. You can also get up to… Read more »
(1 Minute Read) Plans for a new loan scheme for small businesses up to £10m… What is it? A new taxpayer-funded loan scheme is being drawn up by the Treasury. The new scheme will be aimed at increasing small business lending to help recovery from the pandemic. The new scheme is set to replace the… Read more »
(2 Minute Read) Furlough claims over the Christmas holidays… Can I use furlough for holiday leave? Furlough, or the Coronavirus Job Retention Scheme (CJRS), can only be used if an employer can’t keep their normal workforce because of Covid-19. You can’t furlough an employee just for their holidays. However, if an employee is flexibly furloughed… Read more »
(4 Minute Read) Here are the concessions HMRC has made during COVID-19. Self-Assessment Tax Returns for the 2018/2019 year which are filed more than three months late will not be subject to daily penalties, however, all other filing penalties will be charged, unless you can show a reasonable excuse. If the 2018/2019 Tax Return was… Read more »
