Posts Tagged: HMRC

Working From Home Tax Refund

Find out how you could get a tax refund whilst working from home. How much can I get? Where these conditions are met, the employee can receive up to £6 per week from their employer without having to provide supporting evidence for the cost. The costs covered by these payments include the extra cost of:… Read more »

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 »

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… Read more »

Tax Efficient Holiday Lets

Although the idea of jetting off on holiday might seem a long way off, the return to going on holiday will probably start with a lot more people staying in the UK.     What is it? Over the past few years, Airbnb has become an essential part of the holiday industry. The way Airbnb… 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… 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 »

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… 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 Job Retention Scheme

What is it? The Coronavirus Job Retention Scheme (CJRS) applies to all employers with a PAYE scheme. These employers will be able to access support to continue paying part of their employees’ salaries for those that would have otherwise have been laid off during the crisis. This scheme applies to employees who have been asked… Read more »