by David Winfield | Jan 11, 2021 | Accounting News, Uncategorized
Many businesses have closed because of the pandemic despite government coronavirus grants. Special tax rules apply to these payments if they are received after a business stops trading. What do business owners need to know? Support payments A sole trader, partner or...
by David Winfield | Jan 4, 2021 | Accounting News
New rules will apply from April 2021 to make the Construction Industry Scheme (CIS) tougher. As a contractor or subcontractor in the industry what do you need to know? Tax changes. 2021 is shaping up to be a tough year for the construction industry. In addition to the...
by David Winfield | Dec 8, 2020 | Accounting News
A colleague told you that a recent ruling by a Tribunal means that you might be entitled to claim a tax deduction for your gym membership. This contradicts HMRC’s long-standing guidance. Who is right? Wholly and exclusively tax deductions You probably know that tax...
by David Winfield | Sep 28, 2020 | Accounting News, Uncategorized
Problems with HMRC’s NI system are impacting employers who are receiving incorrect demands. What’s the issue and how should you respond if you receive a bill from HMRC? EA problem factors. Changes to the employment allowance (EA) rules and other factors seem to have...
by David Winfield | Sep 10, 2020 | Accounting News, Uncategorized
Last year HMRC removed you from the self-assessment (SA) system even though you have tax to pay in January. Can you now safely assume HMRC will tell you if you owe more tax? Shrinking self-assessment Ever since self-assessment (SA) was introduced 25 years ago HMRC has...
by David Winfield | Jun 9, 2020 | Accounting News, Uncategorized
Tax treatment of local authority grants Under the coronavirus special measures, local authorities can help businesses with Small Business Grant Fund (SBGF) and Retail, Hospitality and Leisure Grant Fund (RHLGF) payments. If your business receives such a grant must it...
