Category Archives: Uncategorized

Changes to Tax-Free Childcare Scheme

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  The government has announced temporary changes to its Tax-Free Childcare (TFC) scheme as a result of the coronavirus (COVID-19) pandemic. The changes to the rules affect parents applying for, or already getting, tax-free childcare or 30 hours free childcare. Individuals whose earnings are now below the normal minimum income requirement but would normally expect […]

Bounce Back Loan Scheme : Coronavirus

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The government has announced a 100% government-backed Bounce Back Loan Scheme for small business to help them make it through the coronavirus outbreak.   What does the new Small Business Bounce Back Loan actually mean for small businesses?  Chancellor Rishi Sunak announced a new government-backed loan to support small businesses on Monday 27th April. The […]

Chancellor expands loan scheme for large businesses

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The chancellor has expanded the government-backed Coronavirus Large Business Interruption Loan Scheme to cover all viable firms. Ahead of the scheme’s launch on Monday (April 20), Sunak unveils the final details of Coronavirus Large Business Interruption Loan Scheme. Who is eligible for the Coronavirus Large Business Loan Scheme? all viable businesses with turnover of more […]

Coronavirus Business Interruption Loan Scheme (CBILS)

Coronavirus-business-interruption-loan-scheme

  Rishi Sunak has taken further action to support firms affected by Coronavirus. He has revised the Coronavirus Business Interruption Loan Scheme (CBILS) and announced a new scheme for larger companies. The expanded CBILS will be offered by lenders from Friday 3 April 2020 and operational from Monday 6 April 2020. Friday, 3 April, Chancellor […]

The New Chancellor guarantees a ‘soft approach’ in pushing IR35 tax reforms

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The UK’s new Chancellor, Rishi Sunak, guarantees that HMRC will not be “heavy-handed” in pushing its IR35 tax reforms. According to HMRC  “Customers will not have to pay penalties for errors relating to off-payroll in the first year, except in cases of deliberate non-compliance”. Sunak has offered reassurance to contractors that HMRC will ensure a […]

Non-Resident Landlords will pay Corporation Tax

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Non-Resident Landlords (companies) will start paying corporation tax rather than income tax on their profits from 6 April 2020. HMRC has released new guidance concerning this change. Key points to note from the guidance are that: HMRC is automatically registering non-resident landlords for corporation tax and issuing a corporation tax unique taxpayer reference (UTR). Companies should […]

Do you know how to cash your £2000 Employment Allowance?

Do you know how to cash your £2000 Employment Allowance? Date: 19/04/2014 Have you recently received a letter from Prime Minister, David Cameron, giving you a good news about Employment Allowance of £2000.  Prime Minister wrote that from 6 April 2014, almost all UK employers can reduce the amount of National Insurance contributions (NICs) they […]