Being forced to take time away from running your business, other than for a holiday, can be stressful, especially when the absence relates to dealing with an illness, needing surgery or recovering from a serious accident.
A remote audit may be a safer and easier option for your business during the Covid-19 pandemic. The Government has issued guidance on remote or virtual auditing to help businesses remain compliant and Thomas Westcott is happy to offer a remote audit.
Last year, in an article called Company van tax: when is a van not a van?, I explained that in a recent tax case both the First Tier and Upper Tier Tribunals had found in favour of HMRC when concluding that a VW Kombi van was a car and not a commercial vehicle. At that time, a Vauxhall Vivaro van was still classified as being commercial.
National Savings & Investments, the deposit institution backed by HM Treasury, has announced that it is cutting the interest rates on some of its more popular products.
It has been announced that Airbnb will share data with HMRC about the earnings of hosts using its UK platform for the tax years 2017/18 and 2018/19. Having this data to hand will enable HMRC to launch targeted enquiries into the tax affairs of those individuals who have not declared their lettings income for those years.
The RPA have now opened the last round of Small Productivity Grants. The specified eligible equipment covers areas of improvements in:
• technical efficiency
• animal health and welfare
• resource efficiency or
• nutrient management
Although the Coronavirus Job Retention Scheme (CJRS) ends on 31 October 2020; all employers who have furloughed staff are eligible for the Job Retention Scheme Bonus (JRSB).
With the myriad daily requirements that a business owner has to deal with they often don’t consider the necessary steps to ensure their business is protected in the event that they should die or become incapacitated, either permanently or temporarily. Of course these are not easy things for any of us to think about, so it is quite natural not to focus on them.
Following the announcement by Chancellor Rishi Sunak on 24 September of additional measures to help businesses and taxpayers hit by the Covid-19 pandemic, HMRC have launched an online payment plan service that individual tax payers can access to help spread their Self Assessment tax liabilities.