HOW TO TREAT CERTAIN EXPENSES AND BENEFITS PROVIDED TO EMPLOYEES DURING CORONAVIRUS

Information about ‘coronavirus (COVID-19) tests’ has been added. Coronavirus tests provided by the government, as part of its national testing scheme, are not treated as a benefit in kind for tax purposes. This means for employed healthcare workers and other eligible front-line staff who get a test through this programme, there is no tax due […]

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BE AWARE OF ‘HMRC’ SCAMS

As the 31 January deadline approaches please be aware of copycat HMRC websites and phishing scams which increase during this time. HMRC customers should always type in the full online address www.gov.uk/hmrc to get the correct link for their Self Assessment tax return online securely and free of charge. Be alert if someone calls, emails or texts […]

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NEGOTIATING A NEW OFFICE LEASE

In the current uncertain economic climate, signing up to a new office lease can be a challenging task.   How much office space will you need in 3 to 5 years time?  It will depend on whether your workforce will want to continue working remotely or not, and how many of the team will be working part time – will a desk […]

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TAX DIARY JANUARY/FEBRUARY 2021

  Date What’s Due 1/01 Corporation tax payment for year to 31/3/20 (unless quarterly instalments apply) 19/01 PAYE & NIC deductions, and CIS return and tax, for month to 5/01/21 (due 22/01 if you pay electronically) 31/01 Deadline for Self-Assessment tax return for 2019/20 if filed online. Also the due date for 2019/20 balancing payment […]

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TIME TO REVIEW YOUR WILL?

Top of the to do list for many individuals is to make or update their will. Many think this is something to leave until later in life but it is important to get things in place once property is acquired or when children come along. In the absence of a will there are statutory rules […]

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£1 MILLION ANNUAL INVESTMENT ALLOWANCES EXTENDED

The Chancellor recently announced that the temporary increase in the Annual Investment Allowance (AIA) for expenditure on plant and machinery has been extended to 31 December 2021. The tax relief was originally scheduled to revert to just £200,000 from 1 January 2021, but that will now be delayed by twelve months. Remember that there is […]

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