In these uncertain times we wanted to reach out to all our clients to let you know we are here to offer support and guidance over the next few months.
We are still available for advice and we will continue to complete your accounts, VAT, payroll and tax returns in a timely manner.
We are fully operational working from both home and the office. So we are contactable in the office as we have skeleton staff. We are designated key workers as we provide payroll services and financial support…
The Budget 2020 (PDF)
In this analysis we have mainly concentrated on the tax measures that will directly affect individuals, employers and small businesses.
We are committed to ensuring all our clients don’t pay a penny more in tax than is necessary.
If you have any questions or would like one-to-one advice tailored to your needs, please call us on 01792 466 428 or email [email protected].
HMRC have published Brief 1 (2020): VAT liability of digital publications – Upper Tribunal in News Corp and Ireland Ltd, which confirms that HMRC’s VAT treatment of supplies of digital newspapers and other publications has not changed.
Supplies of newspapers are zero rated under UK legislation. HMRC’s policy is that the zero rate only applies to the sale of printed matter (that is, supplies of goods). Therefore, the sale of digital newspapers (which are services) has always been treated as standard rated.
Around 31 million taxpayers are expected to benefit from an increase in take home pay from April 2020 when the National Insurance Contributions (NIC) threshold rises from £8,632 to £9,500 per year.
A typical employee will save around £104 in 2020/21, while self-employed people, who pay a lower rate, will have around £78 cut from their bill.
All the other thresholds will rise with inflation, except for the upper NICs thresholds which will remain frozen at £50,000,…
One of the key messages regarding claims for structures and buildings capital allowances (SBAs) is that record keeping and cost segregation will be of paramount importance. In order to claim the allowance, evidence of qualifying expenditure must be produced in the form of an allowance statement, submitted to HMRC. Records can include things like formal contracts, emails or board meeting notes.
Broadly, SBAs may be claimed for qualifying capital expenditure on construction works incurred on or after 29 October 2018. SBA expenditure does…
HMRC have been reminding employers to get ready for changes to the Employment Allowance (EA) that take effect from the start of the new tax year on 1 April 2020.
Most employers with a liability to pay employer (secondary) NIC are eligible to claim the EA, including sole traders, partnerships and companies, charities and those with charitable status such as schools, academies and universities, community amateur sports clubs (CASCs), and employers of care or support workers.