The new Chancellor, Rishi Sunak has offered reassurance to contractors that HM Revenue & Customs (HMRC) will ensure a soft landing is in place for the first year following the implementation of the IR35 rules. Read More
Month: February 2020
No small issue – The importance of accounting in microbusinesses
Small and medium-sized enterprises (SMEs) account for the majority of the business population in the UK, producing trillions of pounds in revenue every year. However, a large amount of their time is spent working on financial admin. Read More
Points-based immigration system works for small businesses providing “costs are kept down”, says FSB
The Government’s new immigration system “works for small businesses”, but only if costs can be kept to a minimum, an industry body has said. Read More
HMRC reminds employers to review benefits in kind to stay compliant
HM Revenue & Customs (HMRC) has reminded employers that the rules surrounding benefits in kind agreed before 06 April 2017 are changing. Read More
Confusion over tax-free childcare scheme affecting its use
The take-up of the Government’s Tax-Free Childcare scheme which was introduced as a replacement to childcare vouchers has been hindered by a lack of understanding around eligibility and the financial benefits of the scheme. Read More
Government launches new Business Support hub
The Government has today launched a new nationwide business campaign designed to support enterprise owners through the Brexit transitional phase and beyond. Read More
Hundreds join demonstration against IR35 rule changes
Hundreds of campaigners have reportedly marched outside Parliament in a demonstration against new off-payroll working rules which are due to come into effect from April this year. Read More
Couples celebrate Valentine’s Day with £250 tax break
HM Revenue & Customs (HMRC) is urging civil partners and spouses to celebrate Valentine’s Day by claiming the Marriage Allowance. Read More
Government launches consultation on plans for new freeports
The Government has launched a consultation on plans to create up to ten freeports across the UK in a bid to encourage global trade and attract inward investment following Brexit. Read More
Businesses could save tax by bringing forward capital purchases
Businesses can deduct the full value of an item that qualifies for Annual Investment Allowance (AIA) from their profits before tax.
But did you know that from 1 January 2019 to 31 December 2020, the allowance has been significantly increased from £200,000 to £1 million?