Virtual Christmas Party

By Gary Robinson / December 14, 2020

Due to the coronavirus restrictions, you may be unable to host your usual Christmas Party for your employees. We are pleased to confirm that the annual parties’ exemption (s264 ITEPA03) will apply to the costs associated with virtual parties in the same way that it would for traditionally held parties. Therefore, subject to the normal…

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HMRC Recovery £1 Bn of Furlough Fraud

By Gary Robinson / June 13, 2021

HMRC is set to recover over £1bn of fraudulent or mistakenly claimed furlough money over the next two years Chief executive at HMRC, Jim Harra predicted that the tax authority looks set to recover over £1bn from fraud related to the covid-19 support schemes over the next two years. At a Public Accounts Committee in…

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Working From Home Tax Relief

By Gary Robinson / May 14, 2021

HMRC is reminding taxpayers to submit tax relief claims for working from home due to coronavirus during 2021/22 via the easy to use online portal So far this tax year more than 550,000 employed workers have already claimed and are benefitting from the tax relief, which pays £6 a week for home workers. If employed…

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Preparing for a return to the office

By Gary Robinson / April 22, 2021

As businesses start to reopen and return to their physical spaces, what does this mean for employees and employers? What will the new workplace look like and will flexible working continue? For employers, the return to work will permit them to have more staff back in the workplace, which may be good news for companies…

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SEISS What is Reduced Activity

By Gary Robinson / April 15, 2021

What is mean by impacted by reduced activity, capacity and demand This applies to your business if it has been impacted by reduced activity, capacity or demand due to coronavirus. For example, you: have fewer customers or clients than you’d normally expect, resulting in reduced activity due to social distancing or government restrictions have one…

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Paying dividends:

By Gary Robinson / April 8, 2021

The adverse impact of coronavirus on some companies’ trading fortunes now means business owners need to watch out before they calculate dividends, as they may be liable for losses should the business subsequently fail. The law on distributions applies not only to dividends, but to any form of distribution to shareholders. Put simply, a distribution…

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National Living Wage and National Minimum Wage rise from 1 April

By Gary Robinson / April 4, 2021

Millions of workers in all parts of the UK will receive a pay increase from today as minimum pay rates rise, with the age threshold reduced to 23 year olds Around two million of the UK’s lowest-paid workers will benefit from an increase in National Living Wage and National Minimum Wage. The National Living Wage…

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Directors what about the risk of paying illegal dividends

By Gary Robinson / March 28, 2021

It’s common for directors of owner managed businesses to pay a portion of their income as dividends and with the end of the tax year fast approaching, directors will once again be turning their minds to declaring an annual payment.  ‘The rules around dividends and distributions, governed by company law capital maintenance requirements and directors’…

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National Living Wage

By Gary Robinson / March 25, 2021

Present and future wage rates First, it is appropriate to discuss the upcoming changes to the minimum wage, of which the National Living Wage is the highest rate of pay. Below is a table which highlights the current rate of NLW and the ages entitled to it, as well as the new structure from 1…

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Electric Vehicle Grants Cut

By Gary Robinson / March 21, 2021

he grant scheme for electric cars, vans and trucks has been updated to target less expensive models and reflect a greater range of affordable vehicles available, allowing the scheme’s funding to go further and help more people make the switch to an electric vehicle. The move means that less luxury cars will now qualify for…

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Recovery Loan Scheme

By Gary Robinson / March 14, 2021

The Recovery Loan Scheme ensures businesses of any size can continue to access loans and other kinds of finance up to £10 million per business once the existing Covid-19 loan schemes close, providing support as businesses recover and grow following the disruption of the pandemic and the end of the transition period. The scheme will…

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