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Review confirms off-payroll working rules to go ahead from April 2020

The government has confirmed that reforms to off-payroll working rules for the private sector will go ahead from 6 April 2020. The off-payroll rules have applied to the public sector since 2017 and the government has carried out a review of the roll-out to the private sector. The review has now concluded, and the changes […]

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Coronavirus measure: Statutory Sick Pay from day one

The Prime Minister, Boris Johnson, has announced that employees will be entitled to Statutory Sick Pay (SSP) from day one when self-isolating rather than having to wait until day four under the SSP waiting days rules. The change will be included in a package of measures, to be introduced by emergency legislation, to deal with […]

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Business support announced in the Budget and 17 March

In the Budget (11 March 2020) the Chancellor announced a package of measures to provide support for public services, individuals and businesses to ensure the impact of COVID-19 is minimised. A new Coronavirus Business Interruption Loan Scheme, delivered by the British Business Bank, will enable businesses to apply for a loan of up to £5 million, with the government […]

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The FCA offer guidance on scams related to coronavirus (Covid-19)

The FCA is closely monitoring the coronavirus (Covid-19) situation and are advising on the steps you can take to stay aware of any possible impact on your finances from scammers. The FCA will be providing regular advice for consumers and firms on the FCA Website. Be aware of new tactics… Watch out for scams related […]

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Is It Worthwhile Having A Company Car Anymore?

There are many advantages to running your own business, like the freedom of being your own boss, the greater control, and possibility of lucrative rewards. But there can often seem like thousands of things you need to know to run it successfully. Paying tax, and just the right amount of tax for your circumstances, is […]

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Dividend allowance down to £2,000

In 2017/18 the first £5,000 of dividends are chargeable to tax at 0% (the Dividend Allowance). From 6 April 2018 the Dividend Allowance is reduced to £2,000. Dividends received above the allowance are taxed at the following rates: 5% for basic rate taxpayers 5% for higher rate taxpayers 1% for additional rate taxpayers. Internet links: GOV.UK […]

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HMRC halts thousands of scam text messages

HMRC have announced that they have stopped thousands of taxpayers from receiving scam text messages ‘with 90 percent of the most convincing texts now halted before they reach their phones’. HMRC’s press release states: ‘Fraudsters alleging to be from HMRC send text messages to unsuspecting members of the public. In these messages they will make false […]

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VAT fuel scale charges

HMRC have issued details of the updated VAT fuel scale charges which apply from the beginning of the next prescribed VAT accounting period starting on or after 1 May 2018. VAT registered businesses use the fuel scale charges to account for VAT on private use of road fuel purchased by the business. Please do get […]

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Off-payroll rules for the private sector

The government has published the draft legislation for the next Finance Bill including the rules for off-payroll working in the private sector. The legislation is open for consultation until 5 September 2019. The new rules will apply from April 2020 and the effect of these rules, if they apply to intermediaries, typically Personal Service Companies […]

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VAT: reverse charge for building and construction services

The VAT reverse charge for building and construction services comes into effect from 1 October 2019. The reverse charge represents part of a government clamp-down on VAT fraud. A reverse charge means that a contractor receiving a supply of construction services must account for the output VAT due, rather than the sub-contractor who supplied the […]

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