Author Archives: Pauline Jackson

Furnished Holiday Letting (FHL)

Where a property is let out as a furnished holiday let as opposed to a longer term residential let, there are a number of advantageous tax reliefs available including the following: Business Asset Disposal relief – Taxable gains on disposal of FHL properties are charged at a lower Capital Gains Tax rate of 10%. Gains…

Working from home tax relief continues, but new claims required

Employees working from home due to the coronavirus pandemic can continue to claim tax-relief on costs not reimbursed by their employer, but a new claim will need to be made for the 2021/22 tax year, HMRC has confirmed. Normally, employers can pay a tax-free allowance of up to £6 per week/£26 per month to employees…

New tax super deduction

HM Treasury (HMT) has published a factsheet  covering the new super-deduction announced in the 2021 Budget, which will allow companies to cut their tax bill by up to 25p for every £1 they invest in qualifying assets. Broadly, between April 2021 and 31 March 2023, companies investing in qualifying new plant and machinery assets will…

Are you entitled to claim a power of attorney refund?

If you applied to register a lasting power of attorney (LPA) or an enduring power of attorney (EPA) in England and Wales   you can claim to get part of your application fee back if you applied to register between 1 April 2013 to 31 March 2017.   Claims must be made by 1 February 2021. Who…

CJRS – HMRC changes to calculations

HMRC has updated its guidance on how to perform usual hours calculations where employees come off furlough or flexible furlough partway through a claim period. The change affects claims made from 14 September. As you will remember from 1 July Flexible Furlough started and there was confusion about how to calculate an employee’s usual hours….

Self-Employment Income Support Scheme (SEISS)

The next round of applications for the Self -Employment Income Support Scheme (SEISS) will be open from Monday 17 August.  If you are self employed or in a partnership and have been adversely affected by coronavirus you may be eligible to claim. HMRC will contact customers either by letter, SMS and/or email to invite you…