IR35 & The Off-Payroll Tax – All You Need To Know
What Is IR35 & The New Off-Payroll Tax? IR35 is a term used to describe a set of tax regulations that are designed to tackle tax avoidance by workers and their employers. It relates to companies hiring freelance workers or contractors who charge the company in question for services supplied through an intermediary, usually a limited company or an agency. The IR35 determines whether these contractors are in fact employees who essentially ‘work’ for the company or if they…
Starting A Business In The Midst Of A Pandemic
This year has been one of unprecedented hardship for many people, but for some it provided a much-needed jolt. Starting a business has been a way to take back a measure of control and provide a sense of hope. Prior to the lockdown, interest in the idea of starting a business had been growing steadily. The total number of UK Google searches for ‘start a business’ understandably took a sharp dip at the beginning of lockdown, then bounced back…
Remote and Hybrid Working – What To Expect Post-COVID
If there’s one thing that has become normalised during the Coronavirus pandemic, it’s working from home. More people than ever have been given no other option than to carry out their jobs remotely, which was one of the first pieces of guidance released by the government back in March 2020. Whilst there was a stigma with employees carrying out their roles within the comforts of their own residence or hybrid working (a combination of working from home and…
Mental Health In The Workplace – How Mental Health Advisors Can Transform Your Business
More and more businesses are putting a focussed emphasis on the need to cater to staff’s mental health. With the sharp rise in the need for mental health services, correlated by the pandemic, many companies believe it is requirement to have a dedicated mental health professional or advisor for staff to confide in. This allows employees to be able to share their thoughts and feeling with an allied health professional, in turn seeking advice on how best to…
Making Tax Digital – All You Need To Know
What Is Making Tax Digital (MTD)? Making Tax Digital (MTD) is a government scheme that allows for the preparing, reporting and filing of taxes to be a fast and easy process. It is designed to get businesses and self-employed workers to complete digital tax records and returns on a quarterly basis (every 3 months), with the overall aim of becoming paperless and allowing both parties (HMRC and the worker) to easily access their details at the click of a…
The VAT Domestic Reverse Charge – All You Need To Know
What Is The Domestic VAT Reverse Charge? The VAT Domestic Reverse Charge is a new law concerning VAT for building and construction services that will come into effect on 1st March 2021. This new scheme is an extension of the existing CIS (Construction Industry Scheme) and basically is a way of passing the responsibility for the reporting and paying of a VAT transaction of a good or service, from the seller to the buyer. In other words, when a transaction…
Budget 2021 Predictions – What To Expect From Rishi Sunak
The 2021 UK Budget is possibly the most anticipated budget of a lifetime, fuelled by the ongoing coronavirus pandemic as well as the global economic crisis which has ensued. This year’s budget will also be the first for the UK since leaving the EU. It will be closely watched by millions of people, eager to see just what the Chancellor of the Exchequer, Rishi Sunak, will propose, and how it will affect the nation and us as individuals. The…
Deadline Approaches For Claiming Third SEISS Grant
The window to apply for the third Self Employment Income Support Scheme (SEISS) grant closes on 29th January 2021. We would like to remind all claimants that it is not usually possible to make a late claim under the scheme, please contact us to make sure that all of your paperwork is update to ensure you don't miss out. If you're self-employed or a member of a partnership and have been impacted by Coronavirus (COVID-19) find out if you can…
Potential Insurance Pay Owed To Small Businesses
Tens of thousands of small businesses could receive insurance payouts covering losses from the first national lockdown, following a court ruling. For some businesses it could provide a much-needed lifeline after the third lockdown, allowing them to trade beyond the pandemic crisis. The judgment should be a massive boost to all businesses reeling from a third lockdown who can now demand their claims are paid. Hundreds of thousands of businesses that were forced to close, or faced significant losses, made…
