HMRC remind taxpayers to claim marriage allowance. HMRC are reminding married couples and people in civil partnerships that they may be able to take advantage of the marriage allowance and claim a tax refund before the end of the current tax year. Marriage allowance offers individuals the chance to transfer part of their personal allowance [...]
Buying a business Overview To acquire a business which is being carried on by a company, the purchaser must decide whether to acquire some or all of the shares in the company that carries on the business (the target business); or the individual business assets and liabilities of the company that carries on the target [...]
A Covid Christmas Christmas is fast approaching, and you may be thinking what rewards you can give your employees for their hard work over the last year with a tax-free gift or a staff Christmas party? Each year we are often asked this question, therefore, here are a few options for you to consider: What [...]
Limited company Overview A number of important decisions must be made when a company is set-up; for example, who will own shares in the company and to what date will it make up its accounts? These decisions may have tax consequences and it is important that all of the available options are considered. The company [...]
Sole Traders and Partnerships Overview A person starting to trade is faced with a number of requirements; for example, they must register their business with HMRC. Penalties may be charged where the person fails to meet or is late in meeting those obligations. In addition, the person must make a number of important decisions; for [...]
Job Support Scheme The Job Support Scheme is designed to protect viable jobs in businesses facing lower demand due to Covid-19, to help keep employees attached to the workforce. Key points: What is it? The company will pay the employee for time worked, but the burden of hours not worked will be split between the [...]
Self-employment income support scheme second payment HMRC have release information regarding the second Self-Employment Income Support Scheme for eligible people. HMRC will be writing to self-employed people this week who may be eligible to make an additional claim for the SEISS grant. The scheme will open for new claims on 17 August and those that [...]
The latest news on the job retention bonus. The Job Retention Bonus is a one-off payment to employers of £1,000 for every employee who they previously claimed for under the scheme, and who remains continuously employed through to 31 January 2021. Eligible employees must earn at least £520 a month on average between the 1 [...]
How to register your business for the scheme. The governments new eat out to help out scheme begins on the 3rd August 2020. Those businesses that wish to participate in the scheme will need to register with HMRC before the 3rd of August. HMRC have issued a guide with more information on who is eligible [...]
Kickstarter Scheme. The government has introduced a new Kickstarter scheme to help get young people back to work. So what was announced? If you are an employer and create new jobs and employ Kickstarter (Age 16-24) government will pay six months salary (25 hours @ minimum wage). The government-funded element only covers the National minimum [...]
