R&D TAX RELIEF – MAJOR CHANGES FORTHCOMING FROM APRIL 2023

R&D Tax Relief - Data and Cloud Computing

At Spring Budget 2021 the government launched a review of the two R&D Tax Relief schemes:

  1. Research and Development Expenditure Credit (RDEC) and
  2. Small and medium enterprises (SME) R&D relief

The objectives of the review were to ensure that

Read more ->

Tax Scams – Self-Assessment

HMRC Tax Scams

HMRC have highlighted the Self-Assessment Tax Scams that rear their ugly head, with the filing deadline looming!

With less than 2 months to the filing deadline HMRC is giving information to taxpayers to help them avoid scams.

Warnings!

HMRC … Read more ->

R&D Tax Relief: Capital Allowances

Chancellor - R&D Tax Relief - Capital Allowances

The Chancellor of the Exchequer presented his Autumn Budget and Spending Review to Parliament on Wednesday 27th October 2021.

We look at what changes are forthcoming for R&D tax relief and capital allowances.

R&D Tax Relief

Following the consultation

Read more ->
,

VAT Increase for Hospitality Businesses

VAT Rate Increase

As businesses up and down the country progress on recovering lost trade, HMRC will be implementing the first phase of a VAT Increase for Hospitality Businesses effective from 1st October 2021.

Is your business affected by the VAT IncreaseRead more ->

,

COVID 19 – THE FIFTH SEISS GRANT – CLAIM WINDOW DEADLINE

Fifth SEISS Grant

The claim window for the Fifth SEISS Grant is closing soon. The deadline for making a claim is 30th September 2021. This will be the final grant given to the self-employed. If your business has suffered due to Covid … Read more ->

BIGGEST Tax Change Affecting the Self-Employed

BIGGEST Tax Change Affecting the Self-Employed

On the 20th July 2021 the Government published draft legislation which will see the BIGGEST tax change affecting the self-employed since the introduction of self-assessment!

Until now, the self-employed, which includes partnerships, can elect when they wish to prepare … Read more ->

Property Income: What’s Excluded?

Caravan Hire - not Property income

Property Income: What’s Excluded?

Are you running a property business or receiving income relating to a property? Then, do you know if all the income received is treated as ‘Property Income’ for tax purposes? Our article ‘Property Income: What’s Excluded? … Read more ->

VAT : EU VAT Changes from 1st July 2021

EU Vat Changes
VAT : EU VAT Changes from 1st July 2021

New EU VAT Laws came into effect on 1st July 2021 and these are likely to affect many businesses.

The idea of these changes is to modernise the declaration of … Read more ->

,

COVID Update – The Fifth SEISS Grant – The Calculation

SEISS 5th Grant Claim
Self-Employed Income Support Scheme

The window for the Fifth SEISS Grant will soon be open. However, the calculation is very different to the previous grants.

The 5th, and final SEISS Grant will support many more individuals whose businesses … Read more ->

Extended Loss Carry back For Businesses

Extended Loss Carry back For Businesses
Extended Loss Carry back For Businesses

The Finance Bill 2021 included a plan for the Government to introduce new legislation. The new legislation provides a temporary extension to the loss carry back rules for trading losses of both corporate and … Read more ->