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Extension of the loss carry back rules

:: in April 27, 2021 :: in Blog, Uncategorized :: Comments Off on Extension of the loss carry back rules

Following the recent budget, it appeared that owners of furnished holiday lets (FHL) would be able to use the new extended loss carry back provisions.  This would have allowed losses to be carried back three years during a specific time period.  Unfortunately, the Finance Bill 2021 has been tweaked and…

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BUDGET 3 MARCH 2021 – Key points

:: in March 4, 2021 :: in Blog, Uncategorized :: Comments Off on BUDGET 3 MARCH 2021 – Key points

Measures to mitigate the impact of Coronavirus Extension of the Coronavirus Job Support Scheme (‘furlough payments’) to September 2021 across the UK, with employer contributions to salary from July Fourth Self Employment Income Support Scheme grant covering February to April 2021 to claim from late April, similar to first three…

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Companies House – a change in what is filed for small and micro companies

:: in February 25, 2021 :: in Blog, Uncategorized :: Comments Off on Companies House – a change in what is filed for small and micro companies

At the moment a small company has nine months to file its accounts with Companies House.  A small company can also file less information at Companies House such as removing the profit and loss account. There is a consultation in progress to change the way small companies file information and…

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Domestic reverse charge (DRC)

:: in February 12, 2021 :: in Blog, Uncategorized :: Comments Off on Domestic reverse charge (DRC)

This will affect contractors and subcontractors in the construction industry and will apply from the 1st March 2021. It will apply if the subcontractor and contractor are VAT registered but will NOT apply if the work you do is zero rated.   Subcontractors You will need to contact the contractor…

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Thinking of giving money or an asset away to a loved one before you die? Consider doing it now

:: in January 29, 2021 :: in Blog, Uncategorized :: Comments Off on Thinking of giving money or an asset away to a loved one before you die? Consider doing it now

There has been much speculation on what the Chancellor may or may not do in this March 2021 budget.  Most of the suggestions consider the necessity to clear the huge debt this country is now burdened with due to the pandemic.  Some tax planning may be too late now such…

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