With the current Covid restrictions putting many businesses at risk, planning for and analysis of different scenarios has never been so crucial for all businesses to ensure their future success – performing ‘what if’ scenarios can help business owners to better...
Making Tax Digital for VAT (MTD for VAT) has been effective for businesses with turnover above the VAT threshold of £85,000 since April 2019. HMRC recently outlined its next steps, including the introduction of Making Tax Digital for Income Tax Self-Assessment. Here,...
The Annual Investment Allowance (AIA) provides a tax write-off against profits for expenditure incurred on plant and machinery by businesses and owners of commercial property. The AIA is reduced from £1,000,000 to £200,000 from 1 January 2021 and the AIA will be...
Life after mortgage interest relief for landlords Historically, landlords have enjoyed generous income and capital gains tax reliefs which helped make residential property an attractive investment for those looking to add to their monthly incomes or provide for...
Published on 24 September 2020, the Local Restrictions Support Grant (LRSG) helps businesses that have been required to close due to temporary COVID-19 local lockdown restrictions imposed by the government. The LRSG supports businesses that were open as usual,...
The existing self-employed grant (SEISS) will also be extended on the same basis as the job support scheme. An initial taxable grant will be provided to those who are currently eligible for SEISS and are continuing to actively trade but face reduced demand due to...
