Author Archives: Pauline Jackson

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…

Avoid these common inheritance tax mistakes to reduce the impact on you and your family

IHT

We recently wrote a blog debunking the most common misconceptions about Inheritance Tax (IHT). Today we want to address the most common mistakes made, so you can be sure you’re avoiding them and minimising your exposure to IHT. Inheritance tax is affecting more ordinary people every year, so getting a grasp on the details is…

Furnished holiday lets and the tax implications of Covid

FHLs enjoy several tax benefits, but you must adhere to strict day count limits for availability and letting. Due to the current crisis, many FHLs will not be able to meet the qualifying day counts in this tax year.  As a reminder the conditions to be met are: The availability condition Your property must be…

The most common misconceptions about Inheritance Tax, and why you may need to start planning

The huge increases in house prices over recent decades has been one of the main reasons why inheritance tax has started to hit more and more ordinary people. Understanding Inheritance tax and how you may be affected by it, is vital. If you begin planning for it now, you avoid passing a tax bill onto…

Coronavirus Statutory Sick Pay Rebate Scheme Set to Launch

Employers will be able to make claims through the Coronavirus Statutory Sick Pay Rebate Scheme from 26 May. The government has announced a new online service will be launched on 26 May for small and medium-sized employers to recover Statutory Sick Pay (SSP) payments they have made to their employees. Employers are eligible if they…

Increase in working Tax Credits

The government has announced that Working Tax Credits payments will be increased from 6 April 2020. As part of a number of measures to support the country during the COVID-19 pandemic, the basic element of Working Tax Credit has been increased by £1,045 to £3,040 from 6 April 2020 until 5 April 2021. The amount…

COVID-19: Furlough for IR35 workers in the public sector

The Cabinet Office has confirmed that the coronavirus job retention scheme will also apply to off-payroll contractors working for public sector organisations. Guidance notes published by the Cabinet Office clarify that the furlough scheme announced on 26 March will include, for example, those working for local libraries and museums which have had to close during the…