Everyone has been worrying about the impact of the Coronavirus Pandemic on businesses but what about Brexit? With so much going on this year, many small businesses are facing their toughest year to date. Now in the 2021 Budget, we heard all about various support...
Opening a bank account from outside of the UK When opening a UK bank account, you have to have proof of address and residence. This can be a utility bill or bank statement with your name on it as proof that you own or rent property in the UK. However, the...
There may come a time when an individual can longer manage on their own at home and has to leave their main residence to go into care. Depending on their financial circumstances, they may need to sell their home or rent it out in order...
Small businesses can choose to be taxed on the basis of the cash that passes through their books, rather than undertaking the more complex accounting calculations designed for larger businesses. This is known as the ‘cash basis’, and where a business opts to use it,...
As a result of the Coronavirus (COVID-19) pandemic, many workers have been forced to work from home. While working from home saves the costs of commuting to the workplace and perhaps allows workers to adopt a more relaxed dress code, there are also costs associated...
Lettings relief provides additional relief for tax where a property that has been occupied as a main residence is let out. For disposals prior to 6 April 2020, relief was available where a property was let as long as that property had at some time...
The National Insurance employment allowance is available to eligible employers and can be set against the employer’s secondary Class 1 National Insurance liability. In the 2020 Budget, the Chancellor announced that the allowance would be increased to £4,000 for 2020/21. However, from 6 April 2020,...
As the Government’s response to the COVID-19 pandemic evolves, various measures have been announced to help business struggling to cope with the impact of the virus. The measures include help through the business rate system for smaller businesses and those in certain sectors. Grants for businesses...
You made it and filed your self-assessment return for 2018/19 by the 31 January 2020. However, having felt pleased with yourself, you realise to your horror that you have made a mistake and need to correct your return. Can you do this and if so, how...
A tax exemption enables an employer to meet small personal expenses when an employee stays away from home for work, without the employee suffering a tax charge and without any need to report the expenses to HMRC. What are incidental overnight expenses? Incidental overnight expenses are personal...
