Blog
Commentary and insight
Our team of experts keeps a close eye on developments in tax law and financial regulation. Our blog is where they interpret the ever-changing statutory landscape in plain English, highlighting what’s important and offering practical advice on what businesses can do to avoid pitfalls or seize the opportunities presented.
Minimising the Capital Gains Tax Bill
There are many ways in which your eventual liability to capital gains tax (CGT) can be minimised, particularly when share prices are depressed. Many of us may currently have some time on our hands to accelerate tax year end planning. Central to...
Covid19 – Time to Reflect and Plan Ahead
As we emerge slowly from lockdown, now is a good time to take stock of things and look ahead to how we can run our businesses with the “New Normal” environment we face. What is clear is that some form of social distancing will remain, and many...
Inheritance Tax Planning in 2020/21 – what to consider during lockdown
Coronavirus has many people reflecting on their own mortality. So if you have more time on your hands during the lockdown, planning your estate may be a wise way to spend it. Benjamin Franklin observed there are only two certainties in life: death...
Working from Home During the Coronavirus
Can employees reclaim any expenses? On Monday 16 March 2020, Prime Minister Boris Johnson told the public to work from home where possible in an attempt to contain the ongoing coronavirus outbreak in the UK. For more than 1.7 million people it was...
Government Extends Furlough Scheme until October
In a boost to millions of jobs and businesses, Chancellor Rishi Sunak has extended the government’s furlough scheme until the end of October 2020. The decision was announced in the House of Commons on 12 May 2020, confirming there will be no...
What is Your Post Lockdown Strategy?
Now is the time to think about how you are going to grow your business, after the lockdown. Set out your goals The current disruption being experienced by businesses across the world is a huge challenge. However, it may also be an opportunity for...
Government Launches New Bounce Back Loan Scheme for Small Businesses
Chancellor, Rishi Sunak, has announced a new Bounce Back loan scheme, allowing small businesses to apply for a loan of up to £50,000, with the government guaranteeing 100% of the advance. Small businesses can apply for a minimum of £2,000 up to a...
COVID-19: Update on Government Support Schemes
The HMRC application portal opened on 20 April for businesses to submit details of furloughed employees. On the first day the website was very slow, but this seems to have settled down. There have been several issues uploading the data to the...
Exam Congratulations
The Horsfield & Smith team would like to congratulate Alicia Whittle who has passed her Business Planning Taxation exam, which means she is part qualified with the ICAEW. Well done Alicia!
COVID-19: Business Survival Guide
The government has stepped in to provide support to certain areas of the economy but even with this becoming available in the coming weeks, some of us will need advice on how to survive the lock down. Here are our thoughts. 1. Apply for all...
Personal Tax Changes for 2020/21
What you need to know for the tax year. The Government left it to the very last minute to announce its tax plans for 2020/21. Fortunately, Chancellor Rishi Sunak had a few surprises up his sleeve in last month’s Spring Budget. Three of the main...
Updated: Coronavirus Business Interruption Loan Scheme (CBILS)
HM Treasury has announced that Chancellor Rishi Sunak is taking further action to support firms affected by the coronavirus crisis by bolstering business interruption loans for small businesses and announcing a new scheme for larger companies. The...
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