£1 million Annual Investment Allowance cap extended

The Treasury has confirmed that the £1 million cap on the Annual Investment Allowance (AIA) is to be extended for an additional year as the government continues to look at ways to stimulate the economy. The AIA provides a tax write off against profits for expenditure incurred on plant and machinery by businesses and owners… Continue reading £1 million Annual Investment Allowance cap extended

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… Continue reading Self assessment customers to benefit from enhanced payment plans

Hot Topic: Updated Job Support Scheme

As part of the Winter Economy Plan Chancellor Rishi Sunak announced the introduction of the government’s new Job Support Scheme Open (JSS Open). The JSS aims to protect jobs and support businesses over the coming months. Following the initial announcement, the Chancellor announced an extension of the JSS.  The Job Support Scheme Closed (JSS Closed)… Continue reading Hot Topic: Updated Job Support Scheme

Hot Topic: Job Support Scheme

As part of the Winter Economy Plan Chancellor Rishi Sunak announced the introduction of the government’s new Job Support Scheme Open (JSS Open). The JSS aims to protect jobs and support businesses over the coming months. Following the initial announcement, the Chancellor announced an extension of the JSS.  The Job Support Scheme Closed (JSS Closed)… Continue reading Hot Topic: Job Support Scheme

Health & Safety: COVID-19

Face masksDoes your facemask fit properly? Will it work effectively? Is there any point in even wearing a face mask? Experts from HSE and PHE have carried out a rapid review of the evidence supporting the use of personal protective equipment (PPE) in healthcare and in the context of COVID-19. The conclusions drawn from the… Continue reading Health & Safety: COVID-19

XeroCon 2019

Recently myself & Mike Waterfield attended Xerocon 2019 at the ExCeL arena in London. Xerocon was an amazing experience, full of product announcements, App demonstrations and glimpses into how artificial intelligence (AI) and computer learning will change our approach to bookkeeping and accounting. Xero can be connected to over 800 Apps. The leading Apps were… Continue reading XeroCon 2019

HMRC countdown: file your tax return

With less than 100 days until the self assessment tax return deadline of 31 January 2020, HMRC is urging taxpayers to complete their tax returns early, in order to avoid the last minute rush. HMRC report that last year more than 2,000 people submitted their tax returns on Christmas Day. Taxpayers should consider submitting their… Continue reading HMRC countdown: file your tax return

Time to switch to an Electric Company Car ?

Big benefits are coming from 6th April 2020 for company car drivers choosing a pure electric vehicle – there will be NO benefit in kind and so NO income tax on the car or fuel to pay in 2020/21 ! This is as a result of the changes to company car tax rates announced for… Continue reading Time to switch to an Electric Company Car ?

VAT Changes in Construction – POSTPONED!

Just 11 days ago I blogged about the new rules for VAT and construction services….. Well, HMRC have actually listened to businesses and construction industry representatives who have been saying that the changes have come in too soon and businesses just aren’t ready - on top of Making Tax Digital and impending (or not?!) Brexit,… Continue reading VAT Changes in Construction – POSTPONED!

Why is an Accountant Good for my Small Business?

Accountants can sometimes be seen as too expensive, or a luxury only needed for bigger companies, but there are a number of ways in which accountants are helpful for even the smallest of businesses. Saving Tax I was speaking to a business owner recently who had prepared his own accounts and tax return for a… Continue reading Why is an Accountant Good for my Small Business?