The Personal Tax Account (PTA) lets people check and manage their tax affairs. It was launched in November 2015 and HMRC reports that over 14m people accessed their account in the last tax year (2020/21). That saw a 21% increase in PTA sessions compared to 2019/20, with over 53m user sessions. If you have not…
Category Archives: Blog
Blog, Deferral of VAT Income Tax and TTP
Don’t forget to join the VAT Deferral New Payment Scheme – deadline 21 June 2021
10
Jun
Jun
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…
08
Jun
Jun
These are the suggested reimbursement rates for employees’ private mileage using their company car from 1 June 2021. Where there has been a change the previous rate is shown in brackets. Engine Size Petrol Diesel LPG 1400cc or less 11p (10p) 8p (7p) 1600cc or less 9p 1401cc to 2000cc 13p (12p) 9p (8p)…
04
Jun
Jun
Many life changing moments lead to entrepreneurship, and the Covid-19 pandemic is no exception. Businesses are being formed for a number of reasons: To solve a problem that has arisen as a result of this world crisis Covid is causing people to think about their lives and what they really want to do Many have…
Blog, Business Grants and Rates relief
New Corona-virus grants via local Councils, in particular Allerdale Borough Council
27
May
May
As you may have heard, local councils have recently been receiving funds for the Restart Grant (RG) and Spring Back Payments (SBP). Applications may also still be possible up to 31 May 2021 to claim on the Local Restrictions Support Grant (Closed) (LRSGC). If you are eligible for the LRSGC grant and haven’t yet received…
25
May
May
Uncertainty is one of the key issues facing businesses currently. As business owners, we have all faced probably one of the most challenging years of our working lives, and it looks like it will continue over the next few months. As a country, we are in a much better place than we were last year….
24
May
May
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…
21
May
May
One thing that VAT registered businesses sometimes over look is the payment of fuel scale charges. There isn’t a one size fits all option on these, and so each business and vehicle within a business will need considered. You can reclaim all the VAT on fuel if your vehicle is only used for business use…
20
May
May
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…
19
May
May
As accountants, we often get asked if a vehicle is a commercial vehicle (van) or a car for VAT purposes. So when is a van a van? Generally speaking, for a vehicle to be treated as a van for VAT purposes, it needs to be constructed with the primary purpose of the conveyance of goods/burden…