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Furlough Scheme changes September 2020

16/09/2020

As our readers will no doubt be aware, the Coronavirus Job Retention Scheme (CJRS) is closing on 31 October 2020. The scheme moved to a more flexible working arrangement from 1 July 2020 to allow employees to resume part-time working and to begin to

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Companies with a 31 December year end

16/09/2020

For companies with taxable profits of up to £1.5 million the payment of any Corporation Tax is due 9 months and 1 day after the end of your accounting period. The accounting period is usually the financial year of your business but can be different

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Working from home tax claim

16/09/2020

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 job

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Video-witnessed wills

16/09/2020

The Ministry of Justice (MoJ) has confirmed that video witnessed wills in England and Wales will be made legal during the coronavirus pandemic. The change in law to introduce this measure is due to come into force later this month - the reforms will

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VAT on compensation payments

16/09/2020

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

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Relief for self-employed trading losses

16/09/2020

There are a number of tax reliefs available for self-employed taxpayers that make a loss carrying on their trade, profession or vocation (collectively referred to as a ‘trade’) and for their share of trading loss for any partnerships they are

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Carry Corporation Tax losses back

16/09/2020

Corporation Tax relief may be available where your company or organisation makes a trading loss. The loss may be used to claim relief from Corporation Tax by offsetting the loss against other gains or profits of the business in the same accounting

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The private pensions’ annual allowance

16/09/2020

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 £240,000. This means

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Free domestic abuse advice line for employers

16/09/2020

A new advice line for employers who are supporting employees experiencing or at risk of domestic abuse has been launched by domestic abuse charity Hestia. The Everyone’s Business Advice Line, which is being funded by the Home Office, will be a point

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Coronavirus testing guidance for employers

16/09/2020

The government has published detailed new guidance for employers on the regulations and legal obligations relating to running internal workplace coronavirus (COVID-19) testing programmes, i.e. those which are outside of the NHS Test and Trace

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Green Homes Grants

14/09/2020

A reminder that home owners and landlords can now access funding to help pay for the cost of energy saving improvements. In a recent press release the Department for Business, Energy & Industrial Strategy said: Homeowners and landlords can,

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Cars – it’s all online

13/09/2020

If you have access to the internet there are a bewildering number of online resources that you can access to help you manage recurring tasks. This week we have listed a number of these with links to the relevant website pages. Book a theory test -

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New grants for businesses affected by local lockdowns

09/09/2020

New grant support was announced 9 September that offers businesses in areas subject to a local lockdown a measure of financial support. In a news story posted to the GOV.UK website HM Treasury said: Businesses in England required to close due to

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English plastic bag charge to double

08/09/2020

The single-use carrier bag charge came into effect in England on 5 October 2015. This introduced a minimum charge of 5p on single-use carrier bags supplied by large shops (with over 250 employees) in England. Since then single-use carrier bags are

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Kickstart program opens in Wales

08/09/2020

Under the new £2 billion Kickstart scheme, employers will be able to offer young people on Universal Credit and at risk of long-term unemployment, state-subsidised work placements for six months. The Kickstart scheme is available to qualifying 16 -

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Companies House has new bank account

08/09/2020

Companies House has announced that they have new bank details effective from 1 September 2020. This is due to a Companies House change in status from a trading fund to a central government organisation. This has necessitated the introduction of a

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Fast-tracking passport applications

08/09/2020

Due to coronavirus disruption, it is currently taking up to six weeks to renew or replace a passport online. It can take even longer if you apply by post or if applying for a first adult passport. Passport offices and the premium and fast track

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Time to Pay

08/09/2020

Back in March 2020, as the coronavirus pandemic was just starting the government announced new emergency measures to help those businesses and self-employed people affected by COVID-19 through the Time To Pay service. A dedicated COVID-19 helpline

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Taxation of grants

08/09/2020

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

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Nominating a principal private residence

08/09/2020

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 will not qualify for relief. This relief from

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VAT – partial exemption defined

08/09/2020

A business that incurs expenditure on taxable and exempt business activities is partially exempt for VAT purposes. This means that the business is required to make an apportionment between the activities using a 'partial exemption method' in order to

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Refunds – guidance or law?

07/09/2020

The Competition and Markets Authority (CMA) recently published further detail on its views on the law in relation to cancellations and refunds during the pandemic. It remains their view that a consumer will generally be entitled to a refund when they

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Witnessing wills remotely

07/09/2020

A statutory instrument will be issued September 2020 that will legitimise the witnessing of wills by video conferencing methods. This extension to the witness process will apply from 31 January 2020 for two years. The new law will amend the Wills

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Government legal department numbers open to fraud

01/09/2020

The Government Legal Departments (GLD) is warning that its general enquiry number (020 7210 8500) and switchboard number (020 7210 3000) are being used by fraudsters to try and extract money from members of the public. In most of the reported cases,

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Lost your tax reference number?

01/09/2020

Your unique taxpayer reference (UTR) is the primary identifier for tax purposes. The number is also sometimes known as your taxpayer number or tax reference number and should be used whenever you contact HMRC or when you file your tax returns. The

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Tax and divorce

01/09/2020

When a couple is in the process of becoming separated or divorced it is unlikely that they are thinking about the tax implications of doing so. However, it is important that the tax consequences of the break-up are properly considered. Whilst Income

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Kickstart scheme officially launched

01/09/2020

The new £2 billion Kickstart scheme that was announced as part of the Summer Economic update by the Chancellor, Rishi Sunak was officially launched by the government on 2 September 2020. The scheme is intended to create hundreds of thousands of

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Changes to VAT partial exemption

01/09/2020

HMRC has updated its guidance on the VAT partial exemption treatment relevant to businesses who supply goods by way of hire purchase agreements. A policy paper entitled Revenue and Customs Brief 8 (2020): change to partial exemption VAT treatment was

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New payments for people self-isolating

01/09/2020

The government has announced the launch of a new trial scheme that will pay people on low incomes who need to self-isolate and are unable to work from home. The trial will start in Blackburn, Darwen, Pendle, and Oldham to ensure the process works.

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Changes to EMI working time arrangements

01/09/2020

Temporary changes to EMI working time arrangements will ensure that individuals who are furloughed or who have their working hours reduced below the current statutory working time requirement for EMI as a result of coronavirus (COVID-19) will retain

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