Some important changes were announced by Chancellor Rishi Sunak in the Budget delivered on March 3, and whilst the theme was continued support for businesses dealing with the pandemic in the short term, we have seen the first insight as…
Ahead of today’s Budget, the Treasury Committee of MPs published an eagerly awaited report on ‘Tax after coronavirus’. It provides useful context for the Chancellor’s statement and will be of interest to all those contemplating the outlook for tax policy…
Businesses which trade online are in the government’s sights as it looks to address the ballooning budget deficit caused by emergency spending in response to Covid-19. Even before the pandemic, the UK’s corporate tax system was out-dated and in need…
Major changes to the way companies file their accounts and tax returns appear to be on the cards. A consultation recently launched by the Department for Business, Energy and Industrial Strategy (BEIS) is exploring how companies might in future be…
Given the current level of business angel and related equity investment, and predictions that this is going to increase in 2021, we thought anyone considering raising investment in an SME might benefit from a reminder of the basics of the…
*13 November 2020 - Government has announced a further extension to the £1m allowance until 1 January 2022 - it was due to revert to £200,000 on 1 January 2021. Businesses often need to make capital investments in order to…
As part of the summer economic statement on 8 July 2020, Rishi Sunak announced changes to temporarily extend the 0% stamp duty land tax (SDLT) band on purchasing residential property (see my earlier blog here). These changes apply to SDLT…
The impact of the coronavirus crisis on UK public finances is starting to become clear in official figures. In April, the government borrowed £62.1 billion – more than in any month on record – and the budget deficit could widen…
As a contractor within CIS are you sure that you are treating materials claimed by subcontractors correctly? A contractor has sole responsibility to verify that the amount a subcontractor is claiming as material costs are genuine and reasonable, before they…
On 1 April 2020, it will mark a year since the implementation of Making Tax Digital for VAT (MTDfV). At the start of this year, HMRC figures showed that over 1.2 million businesses are now enrolled and over 3.1 million…
