What help is available from HMRC? What is it? The Self-Assessment payment on account, that is ordinarily due to be paid by July 2020 may now be deferred until January 2021. This deferral is optional, and you can pay the second payment normally if you wish, to avoid a large payment in January 2021. Am… Read more »
Posts Tagged: Ilyas
Some workers may be better off thanks to furlough
Find out how employees could be better off thanks to the Government’s furlough scheme. What is furlough? The Government’s furlough scheme allows companies to retain staff through the Coronavirus, whist the government pays up to 80% of the employee’s wages. How can employees be better off? During the period of furlough the employee cannot work… Read more »
What Cash Help are you Entitled to?
Use this tool to see what cash help you are entitled to. What help is there? The Government introduced the Small Business Grants Fund and the Retail, Leisure & Hospitality Grants Fund Since launch over £7 Billion in grants has been paid out to small businesses. The grants are between £10,000 and £25,000 The grants… Read more »
£50,000 Quick, Easy, No Security
How the government’s new “bounce-back loans” can help you. What are they? These new “bounce-back loans” are 100% government-backed loans for small businesses. They are aimed at unblocking the backlog of credit checks by banks amid fears that small firms could fold before getting the loans they need. Key Features Starting Monday 4th May 2020… 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 1st March… Read more »
Corona Virus Cash Help
Find out how the government is helping your business through the Corona virus. The Chancellor announced an expansion of Business Rates Relief. The current retail discount of 50% will be increased to 100% for 2020-2021, meaning nearly half of all properties in England will pay no business rates for the year. As well as increasing… Read more »
Avoiding the Pension Cap
Thousands of people may have unexpected tax bills, because they have contributed too much to there pension schemes. Most people are entitled to contribute up to £40,000 a year into a private pension tax-free. This cap applies across all of your pension schemes, and includes contributions made by employers, or on your behalf by someone… Read more »
Big Changes with Employment Allowance
The current rules on employment allowances are undergoing big changes in April 2020. From April 2014 employers have been entitled to £3,000 off their National Insurance bill. But from April 2020, employers will only be eligible if their total secondary Class 1 NIC liability was under £100,000 in the previous tax year. This… Read more »
Big Change with Capital Gains
From 6th April 2020 there are three changes that will affect Capital Gains Tax. Currently you file your Capital Gains Tax in your Tax Return. This means you have until the 31st January to declare it. However, from the 6th April 2020 you will have 30 days following the sale to submit your provisional… Read more »
Tax Allowances When working From Home
The amount you can claim when you work from home depends on several conditions. The general tax rule is that deductions are only allowable where the expense has been incurred wholly and exclusively for work. This means that the tax relief can only be allowed for; The additional cost of gas and electricity… Read more »