New student loan repayment thresholds
Increased thresholds. New earnings thresholds apply for student loan repayments for paydays on or after 6 April 2022. HMRC has published...
Higher tax rate on directors’ loans
Where a Director owes money to their company at the end of its accounting period, any part of the debt which isn’t repaid within the...
Six insolvency traps to avoid
by Lisa Thomas As small businesses consider insolvency to escape Covid loans, Lisa Thomas explains six actions which can land directors...
Avoiding the Gift Aid tax trap
A recent press article about tax and Gift Aid donations caught your eye. It said that people who donate to charity and whose income has...
Company closure - dealing with an overdrawn loan account
One of our subscribers has decided to close a subsidiary of her main company. Her loan account with the subsidiary company is in the red...
New CJRS advice for annually paid staff
Employers are now entitled to claim furlough scheme pay for annually paid workers who were last paid after 19 March 2020 and furloughed...
How has Brexit affected VAT on the supply of services?
Due to Brexit the VAT rules have changed for supplies of services to customers in the EU. While these are less onerous than the new rules...
Is trouble lurking in your SEISS claim?
HMRC has recently highlighted problems with Self-Employment Income Support Scheme (SEISS) claims. Even though it worked out the payments,...
You’ve deferred your tax - what next?
You took advantage of HMRC’s tax deferral schemes for VAT and income tax self- assessment because of coronavirus. What options are there...
SEISS checks - are you ready?
As well as documents showing how you worked out your SEISS claim HMRC requires you to keep records of how your business was adversely...