Author Archives: Alex Dent

Increase in National Insurance, increase in dividend tax, cap on care fees

The prime minister has confirmed that there will be a 1.25% increase to NIC and dividend tax rates. National Insurance Increases There will be a temporary increase in April 2022 of 1.25% to Class 1 and Class 4 NIC as well as a 1.25% increase in Class 1 Secondary NIC paid by employers. It will…

Self-Assessment Late penalties waived until 1 April 2021

Normally 30 days after the filing deadline of 31 January, on 3 March a late payment penalty of 5% is levied if you have not settled your tax liability in full by this date. Due to the coronavirus pandemic the date of the late payment penalty is to be extended to 1 April 2021. Meaning…

Budget Highlights

Chancellor Rishi Sunak delivered his Budget 2021 statement in Parliament at 12.30pm this afternoon, his opening sentiments were: “This Budget meets the moment with a three-part plan to protect the jobs and livelihoods of the British people. First, we will continue doing whatever it takes to support the British people and businesses through this moment…

Additional Restrictions Grant (ARG) – Carlisle City Council applications closing

Carlisle City Council deadline for applying for this grant is tomorrow at 3 pm. Ensure you complete the application form on https://www.carlisle.gov.uk/news-and-events/business-support to apply for this grant before the deadline. The Additional Restrictions Grant (ARG) provides local councils with grant funding to support closed businesses that do not directly pay business rates as well as…

What grants can I claim during Lockdown 3.0?

The grants that are available since we were placed into lockdown on 5 January 2021 are: Local Restrictions Support Grant (closed ) -LRSG(C) Closed Business Support Payments -CBSP Additional restrictions grants -ARG The LRSG(c) will continue to be available until the restrictions are lifted, this is not expected until at least the February half term….

Covid Assistance and New One-Off Grant for Retail, Leisure and Hospitality

As we enter another lockdown, the government have introduced additional support for retail, leisure and hospitality businesses in the form of a one-off grant of up to £9,000. This will provide an extra £4.6 billion of support to some of the hardest hit industries in the pandemic. There will also be a discretionary fund of…

Maximising your Estate when the Country is in Economic Downturn

When considering your inheritance tax position, you want to be sure you’re passing the maximum amount possible to the beneficiaries of your Estate. As the country is in economic downturn due to Covid-19, it is more important than ever to maximise reliefs now. This blog will cover some simple tax planning steps to help you…

Detailed guidance is now available for the extension of the Coronavirus Job Support Scheme (CJRS)

Changes were made late Friday afternoon to scheme, meaning that you will no longer be able to claim furlough from 1 December 2020 for any days when an employee is serving statutory or contractual notice, including resignation and retirement. It is however still possible to claim furlough for statutory notice periods up to 1 December…

Grants scheme details published

The government have now published guidance on eligibility for the Local Restriction Support Grant (Closed) LRSG-C. This grant is for businesses who were required to close due to national restrictions between 5 November and 2 December 2020. You may be eligible for the grant if: You are based in England You occupy property and you…

Today’s announcement by the Chancellor – further support for businesses during the winter and during lockdown

Further announcements were made today in the House of Commons by the Chancellor of the Exchequer, Rishi Sunak, to provide further support to businesses throughout the winter and during lockdown: Furlough scheme extended until the end of March 2021 – The scheme will pay 80% of an employee’s wages up to a maximum of £2,500…