HMRC has confirmed it will not charge late filing penalties for capital gains tax (CGT) payment on disposals of UK residential property by UK residents made by 31 July 2020. The announcement came in a question and answer factsheet shared with ICAEW’s Tax Faculty. The gov.uk has not published the information yet but HMRC has...
On Wednesday 08 April, the Chancellor announced £750 million to support for the charity sector in response to coronavirus. The funding package announced by the Chancellor include cash grants, which will be supplied to charities that provide key services during the crisis. Support for small, local charities Scheme declared £370 million to support small,...
Lloyds Banking Group has agreed mortgage repayment holidays for more than 300,000 customers since the start of the Covid-19 outbreak. LBG has helped hundreds of thousands of business and retail customers affected due to Covid19. This includes agreeing mortgage repayment holidays for more than 300,000 customers. Lloyds says it has also implemented payment holidays...
HMRC has announced temporary changes to the VAT payments due between 20 March 2020 and 30 June 2020 to help businesses manage their cash flow. Businesses that have been affected by the COVID-19 pandemic and are seeking to make use of the VAT deferral have been urged to cancel their direct debits ‘as...
The government has made some changes to the support available through working tax credits and universal credit which will provide some help to the self-employed. Increases in the standard rates The standard rate for universal credit and tax credits will both increase by £20 a week for one year from 6 April 2020. This increase...
You can claim a grant through the coronavirus (COVID-19) Self-employment Income Support Scheme. Use this scheme if you’re self-employed or a member of a partnership and have lost income due to coronavirus. This scheme will allow you to claim a taxable grant worth 80% of your trading profits up to a maximum of £2,500 per...
Employment Allowance was introduced in 2014 in order to reduce the NIC’s liability for small to medium businesses by £3,000. The eligibility rules for an employer claiming the EA will change from April 2020. This measure increases the maximum EA by £1,000 to £4,000 from April 2020. This means eligible businesses and charities will...
Chancellor Rishi Sunak has announced an extraordinary Coronavirus wage bailout fund to support UK workers hit by Coronavirus crisis. The government will pay up to 80%, or £2,500, of the salaries of British workers affected by Covid-19 in a major wage bailout. Mr Sunak stated in a speech: “Employers will be able to contact...
Last night, the Chancellor announced a far-reaching package of measures to allow businesses in this country to stand by their employees at a time of Covid-19 national emergency. Such practical business advice to keep people in employment is a really good start. Governemt is still working on much of the detail and we expect more...
The government has announced a one-year delay to controversial changes to IR35 due to the coronavirus pandemic. This gives businesses a further year to make the necessary changes. HMRC’s Announcement about IR35 changes: Changes to the off-payroll working regime will not take effect until April 2021 due to the coronavirus pandemic, HMRC confirms. In light...
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Birmingham: 9 Sheaf Lane, Coventry Road,B26 3EJ
London: Suite 2462, Unit 3A,34-35 Hatton Garden, EC1N 8DX
Bradford: 22 Muirhead Drive, BD4 0HJ
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Leeds: 94 Street Lane, Leeds
Birmingham: 9 Sheaf Lane, Coventry Road, Birmingham
London: Suite 2462, Unit 3A,34-35 Hatton Garden,London, EC1N 8DX
Bradford: 22 Muirhead Drive, Bradford, BD4 0HJ
Birmingham: 9 Sheaf Lane, Coventry Road, Birmingham
London: Suite 2462, Unit 3A,34-35 Hatton Garden,London, EC1N 8DX
Bradford: 22 Muirhead Drive, Bradford, BD4 0HJ
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Birmingham: 0121 7268 542
London: 0208 0908 998
Bradford: 44 7515 029751
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