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Tax Tips and News

  • Coronavirus (COVID-19) update: homeworkers' expenses

    Newsletter issue - June 2020. The government has introduced a temporary tax exemption and National Insurance disregard to ensure that home office equipment purchased by employees as a result of the coronavirus outbreak, will not attract tax and NICs liabilities where reimbursed by the employer. This temporary change applies for 2019/20 from 16 March 2020,…...Read More

  • Coronavirus (COVID-19) update: self-assessment payment deferrals

    Newsletter issue - June 2020. To help ease the financial impact of the coronavirus (COVID-19), the Government has announced that self-employed taxpayers may be able to defer some tax payments without paying a penalty. At present it is possible to: delay VAT payments due before 30 June 2020 until 31 March 2021; delay self-assessment payments…...Read More

  • Coronavirus SSP Rebate Scheme launches

    Newsletter issue - June 2020. From 26 May 2020 onwards, employers can make claims through the Coronavirus Statutory Sick Pay (SSP) Rebate Scheme. This is a new online service and forms part of the package of support measures for businesses affected by the COVID-19 outbreak. The service enables small and medium-sized employers with fewer than…...Read More

  • Tax-efficient savings update

    Newsletter issue - June 2020. As the new tax year progresses, now is a good time review some of the tax-efficient savings incentives available which may help maximise potential returns. Help-to-save The Help-to-Save scheme offers working people on low incomes a 50% bonus, rewarding savers with 50p for every £1 saved. Over four years, a…...Read More

  • June questions and answers

    Newsletter issue - June 2020. Q. I am the director of a limited company and due to the impact of the coronavirus, I will need to waive my entitlement to company dividends for the time-being. Are any formal waiver procedures necessary? A. A ‘waiver of remuneration’ happens when a director or employee gives up rights…...Read More

  • June 2020 Key tax dates

    Newsletter issue - June 2020. 19/22 - PAYE/NIC, student loan and CIS deductions due for month to 5/6/2020...Read More

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