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
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
It's another New Year , but somethings never change as far as HMRC is concerned. Every month there are key deadlines and dates to remember. Overlook one and you risk incurring the wrath of HMRC. In January alone there are potentially nine things to get right, ranging from paying your corporation tax to filing a … Continue reading Never miss another tax deadline!
The Chancellor has announced the date for the first Budget in more than a year. What can you expect? What tax adjustments are expected? The Conservatives' manifesto mentioned a 1% increase to R&D tax credits and the structures and buildings allowance, along with a £1,000 increase to the employment allowance. The party promised that it … Continue reading The Budget has been set for 11 March 2020
This will not affect everyone one but if you inherited a property several years ago which you keep as a weekender. You want to retain the property but reduce its value in your estate for inheritance tax purposes. Is it possible to achieve both of these goals? It’s no give-away As you probably know, where … Continue reading How to minimise IHT if you own more than one property
The Chancellor has announced the date for the first post-Brexit Budget. What can we expect? Whats in store for us? Announcement. Sajid Javid said "This will be the first Budget after leaving the EU. I will be setting out our plan to shape the economy for the future and triggering the start of our infrastructure revolution". What … Continue reading The Budget has been set for 6th November 2019
HMO stands for house in multiple occupation. We've always had these in the UK, but they seem to be a very topical subject at the moment, no doubt due to our chronic housing shortage and their increased cash flow potential. The experience of landlords letting HMOs seems to vary with some enjoying greatly enhance profits … Continue reading Minimising your tax on ‘HMO’ conversions
Could this be your new home? The DIY Housebuilders Scheme (Notice VAT431NB for new builds and Notice VAT431C for conversions) allows you to reclaim VAT from HMRC that you have paid out for your project if you are: (1) building a new house (2) converting a building into a new dwelling (3) bringing an existing dwelling that has not … Continue reading VAT Reclaims on New Build and Conversions
Is your property business growing but you are not in full control of your numbers, then we can help. Here at Milestone Management Solutions Ltd we specialise in providing the information for you to make better decisions about your business. Better decisions make increased profits and reduced tax and enhanced cash flows. Are you running … Continue reading Is your property business running you or are you running it?