Due to announcements made by the PM this week (W/C 21st September), MJB Avanti have taken the decision to close our Ipswich office to visitors for the foreseeable and allow our team flexi home working. The team continue to work regular … Continue reading Update – Ipswich Office
Cautious optimism from the Chancellor, who confirmed that while output is below that of February we have seen growth for three consecutive months. Millions of furloughed workers are back in employment. Rishi Sunak warned that our economy remains … Continue reading Breaking News: Chancellor Announces Winter Economy Plan
The Bridge works with clients across the UK to help them focus their resources and improve the success of their marketing. Through effective communication, the team works with businesses to develop a strategy that identifies who they will target, … Continue reading Client Spotlight: The Bridge
HMRC has published a new Revenue and Customs Brief on the VAT treatment of early termination fees and similar compensation payments following recent judgments of the Court of Justice of the European Union (CJEU). HMRC has said that this will impact … Continue reading Compensation Fees And VAT
If you do not receive compensation from your employer you can still claim tax relief for some expenses that result from home working. HMRC will usually allow you to claim tax relief if you use your own money for things that you must buy for your … Continue reading Working From Home, Are You Claiming Tax Relief?
The annual allowance for tax relief on pensions has been fixed at £40,000 since 6 April 2014. The annual allowance is further reduced for high earners. Since 6 April 2020, the tapered annual allowance increased from £150,000 to … Continue reading Private Pensions Annual Allowance
A limited company owns multiple holiday cottages and they are applying the temporary reduced rate to this income from 15th July 2020 to 12th January 2021. They also own several narrow boats, camper vans and motorhomes for which there has been … Continue reading Does The VAT Rate Reduction Apply To Forms Of Transport Adapted For Holiday Accommodation?
Residential Front Door Of A Georgian House There is usually no Capital Gains Tax (CGT) due on a property which has been used solely as the main family residence. Conversely, an investment property which has never been used as a private residence … Continue reading If you own multiple properties, have you nominated a private residence?
Since 2019, the vast majority of VAT-registered businesses with a taxable turnover above the VAT threshold (£85,000) have been mandated to keep digital VAT records and send returns using Making Tax Digital (MTD)-compatible software. From April 2022 … Continue reading MTD For VAT To Be Extended To ALL VAT Registered Businesses In 2022
The calculation of Coronavirus Job Retention Scheme grants has proven to be complex, particularly as HMRC frequently changed the rules and the method of computation. Consequently, many errors have arisen and need to be corrected. The latest Finance … Continue reading HMRC Must Be Notified Of Furlough Overclaims Within 90 Days
A wide variety of grants or subsidies are available to businesses and can be received in addition to the ordinary business income. It is important to identify these and to establish whether they are capital or revenue in nature so that they are dealt … Continue reading Business Grants – Do You Know The Tax Position?
...You could be entitled to new funding. New grant support was announced 9 September that offers businesses in areas subject to a local lockdown a measure of financial support. Businesses in England required to close due to local … Continue reading Has Your Business Been Hampered By Local Lockdown?