Latest News
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Practical guide: discounts and incentives - the VAT implications
Some businesses are concerned they will lose customers after the pandemic unless they offer discounts and credits as an incentive to trade. How is VAT dealt with here, and what happens with bad debts?
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Capital allowances - optimising tax efficiency
Tax relief for buying equipment used in a business is given as capital allowances. The directors or the company can claim the capital allowances depending on who buys and owns the equipment. But which is the most tax efficient option?
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NI rates hiked - how much more will workers pay?
Earlier today (7 September) Boris Johnson announced that NI and dividend tax rates will be hiked to help fund social care, pay for coronavirus support measures and clear the NHS backlog. Who will be affected and by how much?
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Calculating notice and redundancy pay for furloughed employees
The Coronavirus Job Retention Scheme (CJRS) is due to end on 30 September 2021. If there is then a need to make furloughed employees redundant, how must employers calculate their statutory notice and redundancy pay?
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HMRC to stop paying certain benefits to Post Office accounts
HMRC is to stop paying certain benefits to Post Office accounts from the end of November 2021. Which payments are affected and what do account holders need to do before then?
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Furlough scheme: has employers’ NI been overclaimed?
The Institute of Chartered Accountants in England and Wales (ICAEW) has issued new guidance that describes two scenarios where employers using the furlough scheme may have inadvertently reclaimed secondary Class 1 NI twice when the scheme was first introduced. What’s the full story?
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