by Karen | Nov 29, 2021 | Accounting, Covid-19, HMRC, Self Assessment, Tax
If you are self-employed and you received Covid-19 support payments during the pandemic, you may need to report these on your self-assessment tax return. If you are an employee and you were furloughed and received furlough grants under the Coronavirus Job Retention...
by Karen | Aug 30, 2021 | Accounting, Covid-19, HMRC, Tax
During the Covid-19 pandemic, HMRC paused much of their tax collection work, both to allow resources to be diverted to other activities, such as administering the various coronavirus support initiatives, such as the Coronavirus Job Retention Scheme and the...
by Karen | Jul 21, 2021 | Accounting, Business Costs, Covid-19, HMRC
As the Coronavirus Job Retention Scheme comes to an end, employers with employees who are still on furlough will need to decide whether they are able to bring the employee back to work, either full time or part time, or whether they will have to terminate the...
by Karen | Jun 10, 2021 | Accounting, Benefits, Covid-19, HMRC
Amend your PSA for Covid-19 related benefits A PAYE Settlement Agreement (PSA) enables an employer to meet the tax on certain benefits and expenses on the employee’s behalf. This can be useful to preserve the goodwill nature of a benefit. Not all benefits are suitable...
by Karen | Jun 4, 2021 | Accounting, Business Costs, Covid-19, HMRC, Tax
If you operate through a limited company, for example as a personal or family company, you will need to extract funds from your company in order to use them to meet your personal bills. There are various ways of doing this. However, a popular and tax efficient...
by Karen | May 26, 2021 | Accounting, Covid-19, Financial planning, HMRC, Tax
To help meet some of the costs incurred in dealing with the Covid-19 pandemic, the Chancellor announced in his 2021 Budget that a number of allowances and thresholds will remain at their 2021/22 levels until 6 April 2026. Those affected are outlined below. Personal...
