Dec 07

Virtual Christmas parties will qualify for tax exemption

HMRC has confirmed that they will accept a virtual Christmas party as an event that is capable of falling within the tax exemption rules for annual functions. The Association of Taxation Technicians (ATT) has received the following statement from HMRC: ‘Having considered the scope of section 264 ITEPA03 (annual parties exemption), we are pleased to […]

READ MORE

Get prepared for the end of the Brexit transitional period

It is time to prepare for the end of the Brexit transitional period. Whilst the United Kingdom officially left the European Union (EU) on 31 January 2020, this prompted the start of an 11-month transitional period during which time the UK remains part of the Single Market, the EU Customs Union and the VAT Territory. […]

READ MORE
SIESS Blog-8

Nov 27

Third instalment of the self employed income support scheme (SEISS)

We have received guidance from HMRC regarding the third instalment of the self employed income support scheme (SEISS).  As before if you want to claim this grant you will need to do this yourself as we are not allowed to make this claim for you.  The process to claim similar to the previous SEISS grant […]

READ MORE
Latest guidance for employers blog

Nov 18

Latest guidance for employers

Latest guidance for employers HMRC has published the latest issue of the Employer Bulletin. The October issue has information on various topics including: coronavirus support schemes and what employers need to do from November onwards National Insurance Number delays Guidance on off payroll working rules (IR35) grants for businesses that complete customs declarations new Employment […]

READ MORE
Brexit imports and exports blog

Brexit imports and exports

From 1 January 2021, the UK will operate a full external border with the EU, which will entail major changes for imports and exports to and from the trading bloc. From 1 January 2021, declarations will be needed to import or export specific (limited) goods categorised as ‘controlled’. However, for non-controlled goods brought from the […]

READ MORE
54,800 customers claim tax relief for working blog

54,800 customers claim tax relief for working from home

HMRC has received more than 54,800 claims from taxpayers using a new online portal which allows workers to claim tax relief for working at home. From 6 April 2020, employers have been able to pay employees up to £6 a week tax-free to cover additional costs if they have had to work from home. Launched […]

READ MORE
Self assessment customers to benefit from enhanced blog

Self assessment customers to benefit from enhanced payment plans

Self assessment taxpayers are now able to benefit from enhanced payment plans and can apply online for additional support to help spread their tax bill into monthly payments. The online payment plan service was already able to set up instalment arrangements for paying tax liabilities up to £10,000. From 1 October 2020, HMRC increased the […]

READ MORE
Chancellor approves grants for businesses closed by lockdown blog

Chancellor approves grants for businesses closed by lockdown

Chancellor Rishi Sunak has announced approved additional funding for cash grants to support businesses required to close in England due to the lockdown. Those businesses affected will be eligible for the following: For properties with a rateable value of £15,000 or under, grants to be £1,334 per month, or £667 per two weeks For properties […]

READ MORE
increased support made blog

Increased support made available for the self employed

The government has increased the support available to self-employed workers and extended its emergency business loan schemes as the UK heads for a second national lockdown. On 5 November Rishi Sunak announced an increase in the level of the third installment of the Self-employment Income Support Scheme (SEISS) from 55% to 80% of average trading […]

READ MORE
Furlough scheme extended blog

Furlough scheme extended

On 5 November, Chancellor Rishi Sunak announced that as part of the new national lockdown the Coronavirus Job Retention Scheme (CJRS) has been extended until the end of March 2021. This announcement updates the Prime Minister’s previous announcement on 31 October that the CJRS would be extended for a month until December. The scheme has […]

READ MORE
EFF Wales

Oct 26

Grants Available via Business Wales

We hope you are keeping safe in these difficult times. As we are now in lockdown in Wales, we are aware that many clients are still looking to secure financial support and development grants. We know that information about the grants and support is limited but is starting to trickle through. We are aware of […]

READ MORE
Sage Blog-Post-Tax-Changes

Oct 15

Selling a residential property – Updated October 2020

Selling a residential property – The way you pay the Capital Gains Tax has changed and earlier payments are needed Download our guide here Back in February, we informed you of the changes that were coming into force in April 2020 and we would like to remind you of these once again Do you have […]

READ MORE
Kickstart Scheme

Sep 11

Kickstart Scheme opens for applications

On 2 September 2020, the government’s £2 billion Kickstart Scheme opened for employer applications. The scheme is part of the Plan for Jobs announced during Chancellor Rishi Sunak’s July Summer Economic Update. The Kickstart Scheme aims to create work placements for young people who are at risk of becoming unemployed for the long-term. Businesses can […]

READ MORE

HMRC latest guidance for employers

HMRC has published the latest edition of the Employer Bulletin. This guidance for employers, and their agents, includes articles on: Coronavirus Job Retention Scheme and what employers need to do from August onwards making sure you are paying the correct workplace pension contributions new laws to ensure furloughed employees receive full statutory redundancy payments the […]

READ MORE
Advisory fuel rates for company cars

Advisory fuel rates for company cars | September 2020

New company car advisory fuel rates have been published which take effect from 1 September 2020. The rates only apply to employees using a company car. The guidance states: ‘You can use the previous rates for up to one month from the date the new rates apply.’ The advisory fuel rates for journeys undertaken on […]

READ MORE
pension scams

More than £30 million lost to pension scams

Over £30 million has been lost to pension scams since 2017, according to the Financial Conduct Authority (FCA) and The Pensions Regulator (TPR). A total of £30,857,329 in pension savings has been lost to scammers since 2017, data published by the FCA and the TPR revealed. Reported losses ranged from under £1,000 to as much […]

READ MORE
Income Support Scheme

Self Employment Income Support Scheme Grants

HMRC are inviting those individuals that are self employed or a member of a partnership and have been adversely affected by coronavirus to claim a second grant under the Self Employed Income Support Grant. Applications for the first grant under the scheme closed on 13 July 2020. The second and final taxable grant is worth […]

READ MORE

Aug 19

Government announces review of business rates scheme

The government has published a call for evidence on the overhaul of the business rates system that applies in England. The government announced at the 2020 Budget in March that it would conduct a review of the business rates system in England. It is seeking views from businesses, business representative organisations, local authorities, rating agents, […]

READ MORE

Treasury sets out next steps for Making Tax Digital

On 21 July, the Treasury set out the next steps in its plan to extend Making Tax Digital (MTD) to all businesses and those taxpayers that file self assessment returns. Currently, businesses above the VAT threshold of £85,000 are required to comply with Making Tax Digital for VAT (MTD for VAT). From April 2022, the […]

READ MORE

Jul 14

Private sector off-payroll reforms given go ahead for April 2021

The introduction of off-payroll rules to the private sector will go ahead as planned next April after an attempt to delay them failed in the House of Commons. The reforms of the off-payroll rules to the private sector, which are known as IR35 and have applied to the public sector since 2017, was reviewed earlier […]

READ MORE

Open Quote

From first going self-employed to starting a limited company, the fantastic accountants at Sage have talked me through the processes and looked after all things accounts-related, leaving me with peace of mind; free to focus on the day-to-day operating of the business. Sage handles everything for me from payroll to tax returns and their service is flawless; when I need something its done; when I need info I get it. All of their staff are friendly, professional, efficient and patient and I couldn’t manage without them.

 

Close Quote