NEW PERSONAL SERVICE COMPANY RULES START THIS MONTH

The off-payroll working rules that apply to certain workers supplying their services to clients via their personal service companies start from the 6th of April 2021. Under this new regime, end-user businesses will be required to determine whether that individual would have been treated as an employee or not if directly engaged. This will be[…]

ACCOUNTING FOR AGRICULTURE

MMG is proud to support a diverse range of businesses, from football clubs, local cafes, gyms and just about everything in between. We have wide-ranging knowledge of distinct sectors and their intricacies, and one industry that is undoubtedly one-of-a-kind is agriculture. Between acquiring land, succession planning, habitually checking the upcoming weather forecast, and of course[…]

GET READY FOR THE ‘OFF-PAYROLL’ WORKING RULES

Where large or medium-sized organisations are paying workers via personal service companies (PSC) or agencies, they will need to operate new procedures from the 6th of April 2021. The new rules will apply to partnerships, LLPs and larger charities as well as limited companies. Only those organisations that would be classed as ‘small’ under the Companies[…]

GET READY FOR NEW OFF-PAYROLL WORKING RULES (IR35)

This time last year businesses were preparing for important changes to the rules where workers supply their services via their personal service companies. The start date was then deferred from 6 April 2020 to 6 April 2021. The new rules are scheduled to apply to large and medium-sized businesses as defined by the Companies Act.[…]

£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[…]

MAKE A CLAIM IF YOU ARE WORKING FROM HOME

With more of us working from home, employees can now make a claim for tax relief to cover some of their costs while they are working remotely. The previous rule for employees was that there had to be a home working arrangement with their employer under which they were required to work from home regularly[…]

UK TARIFFS FROM 1 JANUARY 2021

From the 1st of January 2021, the UK will apply a UK-specific tariff to imported goods. The UK Global Tariff (UKGT) will replace the EU’s Common External Tariff, which applies until the 31st of December 2020. The UKGT will apply to all goods imported into the UK unless: An exception applies, such as a relief or[…]

FOOTBALL REFEREES ARE SELF-EMPLOYED

Many of you will be looking forward to the football season resuming, albeit behind closed doors. There has been an interesting tax case recently concerning the employment status of referees. The Upper Tier Tribunal has rejected an appeal by HMRC concerning whether referees officiating at matches in the Championship and lower leagues were employees of[…]

IR35 “OFF-PAYROLL” TO GO AHEAD AND THEN DELAYED

It was confirmed in the budget that the new rules for workers providing their services through personal service companies would start from 6th April 2020. However, it has subsequently been announced that this would be delayed by a year.  This would have represented a significant additional administrative burden on large and medium-sized businesses which would[…]