Author Archives: Jane Maclachlan

Don’t forget to join the VAT Deferral New Payment Scheme – deadline 21 June 2021

If you deferred VAT payments last year you have until 21 June 2021 to join the new payment scheme to spread the cost of your deferred VAT in monthly instalments under the VAT Deferral New Payment Scheme. The VAT Deferral New Payment Scheme means businesses can now manage their cashflow by paying their deferred VAT…

CJRS “Furlough” Grant Scheme from 1 May 2021 – 30 September 2021

Lately a few of our clients have asked to clarify how much government support is available to their employees from the CJRS “furlough” grant scheme. The fourth version of the scheme started 1 May 2021 and will run until 30 September 2021. Eligibility from 1 May 2021 In order to be included in a CJRS…

Associated companies count for new corporation tax rates

A 25% rate of corporation tax will apply to all of a company’s profits if they exceed £250,000 from 1 April 2023. The 19% rate will continue to apply where profits are below £50,000. The marginal rate that applies between those limits will be 26.5%. Those upper and lower limits are divided by the number…

No employers NICs for a year if you hire ex-military staff

The Government have announced a one-year exemption from paying employers national insurance contributions (NICs) where military veterans are recruited by civilian employers. Employers can claim relief if they employ a veteran during the qualifying period. The qualifying period starts on the first day of the veteran’s first civilian job since leaving the regular armed forces…

Company cars are generally not tax efficient, but is this  still the case when considering electric cars?

In this article we look at the potential benefit in kind, which is remarkably low for certain electric cars.  Plus there is no fuel benefit.  100% Capital Allowances and grant available for both the car and charge points make electric cars worth considering. Electric cars benefit in kind 2021/22 The taxable benefit of a vehicle…

Making tax digital (MTD) extended to more businesses

Currently only VAT registered businesses making taxable supplies in excess of the £85,000 VAT registration threshold are mandated to comply with Making Tax Digital (MTD) rules. Those rules require the business to keep digital business records and send VAT returns using MTD-compatible software. MTD for VAT is now being rolled out to all VAT registered…

Details of fourth self-employed income support grant (SEISS)

Like the CJRS scheme for employers the Self-Employed Income Support Scheme (SEISS) has been extended to September 2021and details of claims for the fourth grant have now been released. This fourth grant covers February, March and April 2021. There will then be a fifth grant covering May to September 2021. The latest grant allows the…

Details of latest CJRS “Furlough” Grants

The fourth version of the CJRS “furlough” grant scheme starts on 1 May 2021 and will run until 30 September with employees affected continuing to be supported such that they are entitled to be paid at least 80% of their “usual pay” subject to a limit of £2,500 a month for hours not worked. The…

Uber drives are workers not self employed

The Supreme Court has ruled that drivers for the ride hailing App Uber are workers not self-employed individuals and hence are entitled to holiday pay, pension rights and the right to be paid the national minimum wage. This case will have implications for other workers in the “gig” economy and may also have a bearing…