Understanding Annual Investment Allowance & Super Deduction

Accounts-Assistant

Changes to the annual investment allowance and the introduction of the super-deduction tax policy have had a big impact on tax allowances. Keep up to date here! The annual investment allowance (AIA) increase has been a blessing for many businesses when looking to weather the pandemic. If you’re unfamiliar, the AIA is a tax relief […]

What are the Tax Allowances for 2021/22?

The tax system can seem very overwhelming for business owners, with so many different tax allowances, tax rates, tax bands. From Personal Tax and Corporation Tax to R&D and Capital Gains, there’s a lot of different figures you may need to refer to. Lucky for you, we’ve put them all in one place here for […]

What can I give to my staff this year seeing as our usual Christmas party is out of the question?

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Around this time of year, we are often advising clients on the different tax-efficient ways to treat staff, and usually, that includes the annual Christmas party. The 2020 festive season is going to look a little different, as the usual Christmas ‘do’ is off the cards.   In a ‘normal’ year, you don’t have to report a party or social event to HMRC for tax purposes, as long as it meets […]

CJRS and SEISS: how to correct an over claimed grant

HMRC Business Tax Account

Unsurprisingly, HMRC has announced how they will be cracking down on fraudulent grant claims. Due to the speed and urgency that claims were made and issued, there are likely to be a number of innocently miscalculated grants and HMRC is requesting that businesses double-check their calculations and notify HMRC within 90 days of receiving any […]

The electric vehicle revolution – tax implications for electric company cars

Electric vehicles are rapidly changing the face of the automotive industry, and with the impact of increased accessibility and environmental awareness, the amount of electric vehicles globally reached 5 million by the end of 2018, compared with just 14,260 in 2010*.  The Committee on Climate Change (CCC) has proposed a recommendation to the UK government regarding electric […]