Peter Wade assists in the bookkeeping and payroll department of MJB Avanti. The case study he provides demonstrates the constraints and hassle of HMRC that we have to contend with on a daily basis. This is Peter’s case study with a happy … Continue reading Case Study – Appealing Payroll Penalties
This month we are focusing on: Inheritance and Property Tax And this week are looking at: What Is Inheritance Tax? Inheritance tax is the tax paid on assets (after inheritance tax allowances are deducted) left when someone dies. As Benjamin … Continue reading Terrific Tuesday Tax Tip – What Is Inheritance Tax?
A new pension schemes newsletter has been published by HMRC. The latest edition of the newsletter includes details of the following topics: Relief at source - Excess relief HMRC has allowed pension schemes to report excess relief via interim … Continue reading HMRC Publishes Pension Scheme Newsletter
HMRC have confirmed that the introduction of the domestic reverse charge for construction services will be delayed for a period of 5 months from 1 October 2020 until 1 March 2021 due to the impact of the coronavirus pandemic on the construction … Continue reading CIS Reverse Charge Delayed
During the lockdown period many employees and directors have not been using their company cars and it has been sitting on their driveway. You might think that means that the benefit of having a company car does not apply but unfortunately HMRC do not … Continue reading CAN WE “FURLOUGH” THE COMPANY CAR?
The Chancellor, Rishi Sunak, has announced more details about the extension of the Coronavirus Job Retention Scheme (CJRS) and the Self-Employment Income Support Scheme, and we’ve outlined these below for you. Coronavirus Job Retention … Continue reading Updates From The Chancellor – CJRS and SEISS
Clients are applying for grants being made available by the government via local authorities and are wondering whether they need to treat this income as subject to VAT. HMRC have not spelt out the VAT implications in any of their announcements. … Continue reading Are Government Grants Subject To VAT?
This is a common occurrence with all types of businesses whether you have not long started or have been trading for several years. As the owner your focus is often on marketing your business, making sure revenue is coming in so bills can be … Continue reading Case Study: What Happens If You Exceed The VAT Threshold?
Launching Today the Self-Employment Income Support Scheme for Sole-traders and those in a Partnership whose business has been affected by coronavirus. This Scheme is designed to match the support being given to furloughed employees. Those able … Continue reading The Self Employed Income Support Scheme Launches Today!
During the Pandemic, access to and information on help for the self employed, and partnerships has been delayed and often unclear, with those affected waiting to hear when the scheme would be available and unable to contact HMRC for any information. … Continue reading Further Updates On The Self Employed Grant Scheme
After much anticipation following the announcement of Government support measures for Businesses, the new Furlough system from HMRC will be up and running from 20th April, and we need to start declaring those employees you would like to … Continue reading Furlough Scheme Is Ready From 20th April
Following an HMRC webinar attended by Avanti staff, here are some useful links for FAQs. The Chancellor’s statement https://www.gov.uk/government/speeches/the-chancellor-rishi-sunak-provides-an-updated-statement-on-coronavirus COVID-19: … Continue reading Covid-19 – Helpful Resource Links