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Month: March 2020

  • Coronavirus Job Retention Scheme

    Coronavirus Job Retention Scheme How much you’ll get Your employer will get a grant to cover 80% of your monthly earnings, up to a maximum of £2,500. Firms will be eligible for the grant once you have been furloughed, from 1 March. Your employer will pay you at least 80% of your usual monthly earnings,

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  • Capital Gains Tax- Changes In Rules For Property Sellers

    Capital Gains Tax- Changes In Rules For Property Sellers There is a major change coming up in April 2020 for those who property sellers in the UK. Finance Act 2019 Sch 2 paras 1 and 2 require a return to be made to HMRC within 30 days where there is any direct/indirect disposal of UK

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  • Change In Eligibility For Employment Allowance For 2020 – 2021

    There is a change coming up in rules for eligibility for Employment Allowance from 6th April 2020. It is the duty of each employer to check if they meet the new eligibility criteria to claim this allowance. The salient eligibility rules are as follows: An employer can only claim the Employment Allowances for the tax

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  • HMRC Phone Line For Help

    For those who are unable to pay due to corona-virus, HMRC will discuss your specific circumstances to explore, including the following: agreeing on an installment arrangement suspending debt collection proceedings cancelling penalties and interest where you have administrative difficulties contacting or paying HMRC immediately The helpline number is 0800 024 1222 – and is an addition

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  • Off-Payroll Working – IR35

    The off-payroll rules will apply to work done under private sector contracts. The government has put on hold on IR35 tax reforms for a year in the wake of coronavirus crisis. Officials suggest that ‘This is a deferral, not a cancellation’. HMRC issued guidance on ‘Tax avoidance schemes aimed at contractors and agency workers’ ahead

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  • BUDGET UPDATE

    Personal allowance and national Insurance rates Personal Allowance: The personal allowance will remain the same at £12,500. Basic rate band will remain at £37,500 which means that 40% tax rate will not start hitting until

  • COVID-19 Summaries

    We are following all the guidance and advice issued and are maintaining our services with business as usual (which is continually under review as we monitor the situation).

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