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IR35 - new rules

emilykilshaw@googlemail.com (Emily Kilshaw) — Tue, 06 Apr 2021 14:46:22 GMT

New IR35 rules - Deemed Employment

The new deemed employment rules for IR35 have now come into play. If you have a personal service company and have been caught by these new rules and you need help filing your companies accounts & tax return, please get in touch.

Reverse charge VAT for construction industry

emilykilshaw@googlemail.com (Emily Kilshaw) — Tue, 06 Apr 2021 14:40:28 GMT

1st March see's big changes for VAT in the construction industry

The reverse charge for VAT came in on the 1st March 2021 for the construction industry. Are you ready or do you need help with this change. Contact us to find out more & how we can help get you underway.

One months grace from HMRC

emilykilshaw@googlemail.com (Emily Kilshaw) — Mon, 01 Feb 2021 11:29:22 GMT

HMRC have postponed penalties on late personal tax submissions by one month

HMRC has postponed the £100 penalty for late submission of 2019/20 personal tax returns, as long as the return is submitted by 28th February 2021. However they will still charge interest on any tax which is due. Therefore, if you haven't already done your personal tax return, the sooner you get it done and submitted the better. Contact us for advice and assistance on your personal tax return.

Are you paying too much?

emilykilshaw@googlemail.com (Emily Kilshaw) — Thu, 19 Nov 2020 12:09:44 GMT

Are you currently getting value for money?

Are you paying your current accountant too much for services you don't need?

We have services such as limited company accounts from as little as £500

And sole trader tax returns from £100

If you need help with submissions or just some advice without paying the earth - get in touch.

Personal Tax Deadline

Mon, 26 Oct 2020 17:28:05 GMT

January personal tax deadline

Personal tax returns are due to be submitted and the tax due must be paid before 31st January 2021. Automatic penalties are issued by HMRC if this deadline is missed, so please get in touch if you need any help with calculating or submitting your tax return.

Final part of Job Retention Scheme - Then what?

emilykilshaw@googlemail.com (Emily Kilshaw) — Fri, 02 Oct 2020 14:43:25 GMT

What are the options after JRS finishes?

The final month of the job retention scheme is now upon us. The government will pay up to 60% of the employees wages for the period of time they do not work and are on furlough. After that the Job Support Scheme will start from 1st November. The employee must be working for a minimum of 1/3 of their 'normal' hours, which the employer will pay for. The government and the employer will then split the remaining 2/3 into 3 and will pay 1/3 each, with a reduction in the employees wage by the final 1/3. For further information please contact me or review HMRC website:

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/921389/Job_Support_Scheme_Factsheet.pdf

1st September changes to Job Retention Scheme

emilykilshaw@googlemail.com (Emily Kilshaw) — Mon, 24 Aug 2020 16:26:55 GMT

Further changes to JRS from 1st September 2020

From the 1st of September you will only be allowed to claim 70% of the furloughed employees salary - if you need help with this claim please contact me.

2nd Self-Employment Grant

emilykilshaw@googlemail.com (Emily Kilshaw) — Wed, 19 Aug 2020 11:57:56 GMT

Second stage grant for Self-Employed now open

HMRC has now opened the second stage grant for the self-employed. HMRC will write to you to invite you to apply for the grant. If you need any assistance with this please contact us.

Changes to Job Retention Scheme

emilykilshaw@googlemail.com (Emily Kilshaw) — Wed, 05 Aug 2020 09:11:51 GMT

1st August sees changes to CJRS

The 1st of August sees the next change to the governments job retention scheme. 80% of the employees pay upto £2,500 can still be claimed by the employer, however the employers national insurance and pension costs can no longer also be claimed.

https://www.gov.uk/government/publications/changes-to-the-coronavirus-job-retention-scheme/changes-to-the-coronavirus-job-retention-scheme

Eat Out to Help Scheme

emilykilshaw@googlemail.com (Emily Kilshaw) — Tue, 28 Jul 2020 19:43:08 GMT

This is a subtitle for your new post

Use the Eat Out to Help Out Scheme at a participating establishment:

to get a 50% discount on food or non-alcoholic drinks to eat or drink in (up to a maximum of £10 discount per diner)
every Monday, Tuesday and Wednesday between 3 and 31 August
as many times as you like

Find a restaurant now from HMRC's link:

https://www.tax.service.gov.uk/eat-out-to-help-out/find-a-restaurant/

Reduced VAT rate for hospitality, holiday accommodation & attractions

emilykilshaw@googlemail.com (Emily Kilshaw) — Sat, 18 Jul 2020 11:20:02 GMT

New VAT Reduced Rates for hospitality

The government announced on 8 July 2020 that it intended to legislate to apply a temporary 5% reduced rate of VAT to certain supplies relating to hospitality, hotel and holiday accommodation and admission to certain attractions. The reduced rate will last for a temporary period between 15 July 2020 and 12 January 2021.

https://www.gov.uk/government/publications/reduced-rate-of-vat-for-hospitality-holiday-accommodation-and-attractions/information-on-the-reduced-rate-of-vat-for-hospitality-holiday-accommodation-and-attractions

Changes to furlough scheme

emilykilshaw@googlemail.com (Emily Kilshaw) — Tue, 14 Jul 2020 13:47:44 GMT

You can now submit your claim for July

The Coronavirus Job Retention Scheme will close on 31 October 2020.

From 1 July, employers can bring furloughed employees back to work for any amount of time and any shift pattern, while still being able to claim CJRS grant for the hours not worked.

From 1 August 2020, the level of grant will be reduced each month.To be eligible for the grant employers must pay furloughed employees 80% of their wages, up to a cap of £2,500 per month for the time they are being furloughed.

https://www.gov.uk/government/publications/changes-to-the-coronavirus-job-retention-scheme/changes-to-the-coronavirus-job-retention-scheme

Self Employed Grant

emilykilshaw@googlemail.com (Emily Kilshaw) — Tue, 14 Jul 2020 13:39:09 GMT

Claim second SEISG from 17th August 2020

The scheme has been extended. If you were eligible for the first grant and can confirm to HMRC that your business has been adversely affected on or after 14 July 2020, you’ll be able to make a claim for a second and final grant from 17 August 2020.

The scheme allows you to claim a second and final taxable grant worth 70% of your average monthly trading profits, paid out in a single installment covering 3 months’ worth of profits, and capped at £6,570 in total.

As with the first grant HMRC will contact you if you’re eligible.

We will work out your eligibility for the second grant in the same way as the first grant.

You can make a claim for the second grant if you’re eligible, even if you did not make a claim for the first grant.

https://www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme