HMRC has announced the latest changes to the advisory fuel rates for company cars. What are they and when can you apply them from? The rate you can pay employees for business mileage in their own vehicles is relatively well-known - 45p per mile for the first 10,000 miles and 25p per mile thereafter. However, … Continue reading HMRC New advisory fuel rates from 1 December
Category: Business
Businesses that took up HMRC’s offer to defer some or all of their VAT liability due for payment between 20 March and 30 June 2020 are to be given more time to pay. Originally, the terms of the offer required the deferred VAT to be paid in full by no later than 31 March 2021. … Continue reading HMRC launches new VAT deferral scheme
The office Christmas party is off the cards this year, but many firms are being innovative and holding virtual parties instead. Why does a recent announcement from HMRC give reason to be merry? Function exemption. HMRC permits an exemption of up to £150 per head for the cost of staff events every tax year. … Continue reading HMRC gives green light to tax-free virtual parties
The HMRC is making changes to the Coronavirus Job Retention Scheme (CJRS) from 1st September and what this means for you. What you need to do from 1 September From 1 September CJRS will pay 70% of usual wages up to a cap of £2,187.50 per month for the hours furloughed employees do not work.You will still need to pay your … Continue reading Changes to the Furlough Scheme from 1st September
Today the Chancellor announced the introduction of the Job Retention Bonus. This is a one-off payment of £1,000 to employers that have used the Coronavirus Job Retention Scheme (CJRS) for each furloughed employee who remains continuously employed until 31 January 2021. The bonus will provide additional support to retain employees. To be eligible, employees will … Continue reading Mini-budget July 2020
HMRC has announced that the introduction of the domestic reverse charge for construction services will be delayed until 1 March 2021 due to the impact of the coronavirus pandemic. What do you need to know? What is the reverse charge? Rules are being introduced to tackle VAT fraud within the construction industry. The reverse charge … Continue reading VAT reverse charge for construction services delayed due to coronavirus
As part of changes to the Coronavirus Job Retention Scheme (CJRS), I’ve outlined below important dates that may impact you in the coming weeks. Important dates – what you need to know now The scheme will close to anyone who hasn’t been furloughed for 3 weeks by 30 June, so you will only be able … Continue reading Covid 19 Changes to the furlough scheme
If you have employees on furlough can they take holiday, and if so at what rate must you pay them? How did the calculation for holiday pay change in April? Furlough and holiday. Employees can take holiday whilst on furlough and you can designate time during furlough to be taken as holiday as long as … Continue reading Holiday during furlough
Following the widespread uptake of the Coronavirus Job Retention Scheme, the government announced that it would also launch a support scheme for the self-employed. Can you benefit? Open. The government’s Self Employed Income Support Scheme (SEISS) opened for claims on Wednesday 15 May. The scheme allows you to make a claim if your business has been … Continue reading Covid 19 -Self Employed Income Support Scheme
The government has brought forward legislation to zero rate electronic publications in a move to make them more affordable for people confined to their homes or affected financially by coronavirus. Zero-rating was originally due to take effect on 1 December 2020 but now applies from today, 1 May. Zero-rating applies to the sale of: books … Continue reading VAT Good news