We are all ‘up to here’ in accommodating COVID-19, and depending on our tolerance levels, this is likely to continue into 2022. There are remote signs that a combination of vaccines and/or anti-viral drugs will eventually arrest the spread of...
We are all ‘up to here’ in accommodating COVID-19, and depending on our tolerance levels, this is likely to continue into 2022. There are remote signs that a combination of vaccines and/or anti-viral drugs will eventually arrest the spread of...
From 15 December 2021, the government is making the following reductions to the grants made available for certain electric vehicle purchases. It will provide grants of up to £1,500 (previously £2,500) for electric cars priced under £32,000. There are currently...
Many individuals and businesses will have been affected by the disruption in electricity supplies due to recent storm damage. Most of the serious damage that disrupted supplies was reconnected fairly quickly, but for many home and business owners, reconnection has...
January 2022 is a ‘taxing’ month. It is the last month to file a self-assessment tax return (electronically) for 2020-21 and avoid late filing penalties. It is also a month when significant tax bills may become payable. Companies Companies that...
A reimbursement of expenditure incurred by an employee in travelling between two or more places of work is not “earnings” and therefore not taxable. This is because the expenditure would be an allowable claim if the employee had paid it...
We are fifteen months away from a radical upward lift in corporation tax (CT) rates. From 1 April 2023, there will be two rates of CT: A small profits rate which will stay at the present 19% and will apply...
Footfall measures the number of times a customer returns to your business to purchase goods and services. Many business owners believe that the most effective way to increase turnover is to win more customers or to charge them more for...
Readers are reminded that there is a tax-free allowance for the provision of an annual party or other event for the benefit of staff and their partners. The present limit to tax relief is £150 per head. If this amount...
Business gifts are not allowed as a tax deduction against profits. The legislation treats gifts in the same way as business entertaining expenditure, which is also disallowed. HMRC define a gift as: “… something that is given to a person...
There was little good cheer in the Chancellor’s announcements to parliament on 27 October. A short summary of the good news is listed below: Annual Investment Allowance (AIA): The £1m limit to claims for tax relief when purchasing qualifying assets...