MORE TIME TO PAY TAX DUE ON 31 JANUARY 2021

Taxpayers who may have difficulty paying the tax due under self-assessment on 31 January 2021 can agree more time to pay with HMRC provided the amount outstanding is no more than £30,000. The government has already agreed that amounts due under self-assessment on 31 July 2020 could be deferred until 31 January 2021, but this[…]

STILL CONSIDERING AN ELECTRIC COMPANY CAR?

There is currently a zero P11d benefit for the drivers of electric cars in 2020/21. The legislation for this change is included in Finance Act 2020 which also states that the benefit will be 1% of list price in 2021/22 and then 2% in 2022/23. The zero taxable benefit also applies to hybrid cars emitting[…]

ESG – WHAT’S IT ALL ABOUT?

Environmental, Social and Governance (ESG) criteria are a set of standards for a firm’s operations. There is growing interest in environmental, social and governance (ESG) considerations in the business community. Many people have strong views and expectations when it comes to corporate behaviour and an appreciation that businesses are part of the solution to many[…]

KEEPING YOUR DATA SECURE WHEN WORKING REMOTELY

With many of us now working from home, making video conference calls, uploading documents and conducting business online, how can firms ensure that their data and systems are secure? UPDATE YOUR NETWORK SECURITY While this should be done regularly, making sure your devices are completely up-to-date with the most recent security patches and upgrades can[…]

GET READY FOR LEAVING THE EU

The United Kingdom leaves the European Union at 11 pm on 31st December 2020 when the transitional period ends. It is still unclear whether a trade deal will have been agreed with the EU by that date, and such an agreement is looking increasingly unlikely. HMRC have started writing to businesses alerting them to important[…]

CHANCELLORS COVID-19 UPDATE SEPTEMBER 2020

NEW JOB SUPPORT SCHEME ANNOUNCED On the 24th of September, Chancellor Rishi Sunak announced a new job scheme starting on the 1st of November 2020, this will replace the current job retention (furlough) scheme which ends on the 31st of October 2020. All small and medium-sized businesses are eligible but larger businesses must prove that[…]

CAN SOFT SKILLS BE TAUGHT?

A positive attitude, a strong work ethic, innovative mindset and being a team player are just as important to employers as practical skills and academic background. It is important to have teams of people who have the hard skills to do a job, e.g. they’re qualified, have relevant experience, can write code, design a product,[…]

COMPANY VAN OR MOTOR CAR?

The court of appeal have now ruled on the tax status of certain vehicles provided to employees of Coca Cola. The court has upheld the HMRC view that vans with windows and a second row of seats behind the driver are not goods vehicles but motor cars for benefit in kind purposes. Consequently, the income[…]