Big Tax Bills for the Self-Employed in 2022/23

Big Tax Bills for the Self-Employed in 2022/23

There are likely to be some big tax bills for the self-employed in 2022/2023. Last month we mentioned that draft legislation has been published to change the basis periods for the assessment of self-employed profits to coincide with the tax year. The proposed new...
The Last CJRS “Furlough” Grants

The Last CJRS “Furlough” Grants

(Image credit: Micro Biz Mag) The Government are pulling the plug on support to employers for furloughed staff at the end of September as they anticipate that the economy will be back to normal by October. The grant claims for employees furloughed in the month of...
Trading Loss Relief Can Be Claimed Early

Trading Loss Relief Can Be Claimed Early

Where a company makes a trading loss of no more than £200,000 in an accounting period it is now possible to claim relief for that loss even though the corporation tax return CT600 has not been submitted. This will enable the company to carry back the trading loss to...
Latest Coronavirus News

Latest Coronavirus News

Furlough Grant Reduces To 70% For July For the month of‌‌ July the CJRS Furlough grant support from the government via HMRC reduces to 70% of the employee’s usual pay for hours not worked. This is despite the fact that “Freedom Day” in England has been delayed four...
Reimburse Private Fuel By 6 July To Avoid Fuel Benefit

Reimburse Private Fuel By 6 July To Avoid Fuel Benefit

A consequence of the lockdown periods is that employees may have driven fewer private miles in their company cars, particularly where they have not been driving to the office. If they are to avoid being taxed on the provision of private fuel they need to fully...

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