Many taxpayers who are required to file a self-assessment tax return to HM Revenue & Customs should now be preparing for their next half-yearly tax payment which is due by 31st July. The amount payable is the second payment-on-account for the 2019/20 tax year and is automatically calculated as half of the total tax liability…
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Every day more people are starting to think about environmental issues, such as climate change, social issues and our impact on the world around us, plus the sustainability of it all. But what can we do about it when it comes to investing your capital? What do all the many different definitions and terms…
In March 2020 HMRC announced that businesses had the option to defer VAT payments falling due between 20 March 2020 and 30 June 2020 until 31 March 2021. An important step in taking advantage of this easement is to cancel your Direct Debit. Where you have failed to do this and your VAT payment has…
Like many Government departments, Companies House have relaxed various compliance requirements to support businesses to get through this Covid-19 period. In their latest announcement, they are making the following temporary changes to their strike off policies: Voluntary (Form DS01 submitted) Strike Off Applications – Process halted after notice published in London Gazette. Automatic Dissolutions…
So we are nearly at the end of the first week of the job retention scheme portal opening and as a firm have processed over 100 claims helping more than 500 employees continue to get paid. We are still continuing to process the claims, hoping to help more businesses gain funding to keep going. …
HMRC opened the Coronavirus Job Retention Scheme On-line Portal on Monday 20th April 2020, which allows employers to claim the Government Grant in respect of Furloughed employees. As cash flow is a priority, our payroll team is busy helping clients compile and submit claims at the earliest possible opportunity. At Whiting & Partners we…
As part of it`s support package for UK businesses during COVID-19, the Government have now launched, through the British Business Bank, a new initiative: Future Fund. This is aimed at helping businesses that regularly finance their operations through successive equity funding rounds (ie start-up TechCo`s). Eligibility criteria: UK based businesses which have been operating…
When UK resident individuals, trustees and personal representatives dispose of residential property it is important to be aware of the Capital Gains Tax (CGT) reporting changes now with us where the unconditional contract is signed after 6 April 2020, usually this is the date of exchange. Generally a return in respect of such a…
In light of the COVID-19 Pandemic, HMRC has updated it’s guidance for employers who offer salary sacrifice arrangements. Under the terms of a salary sacrifice arrangement, a ‘life event’ is a permitted reason to break the arrangement mid-term. Previously the list of life events was limited to marriage, divorce, and a partner becoming redundant…
With an increasing pressure on the government to provide financial support to UK taxpayers during the COVID-19 pandemic, amongst other proposals, the government announced the option for taxpayers to defer the payment of their second payment on account for 2019/20. Provided the required payment is made before 31 January 2021, no interest charges will be…
