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Tax Tips and News

  • Covid-19: Government unveils winter economy plan

    Newsletter issue - October 2020 Chancellor Rishi Sunak has unveiled the Government's winter economy plan, providing an update on current coronavirus support measures for individuals and businesses, and announcing the launch of a new Job Support Scheme. Key points of the statement include: the Coronavirus Job Retention Scheme (CJRS) will end as planned on 31…Read More

  • Kickstart for employers

    Newsletter issue - October 2020 Under the new Kickstart programme, the Government hopes to create roles for as many as 250,000 young people who are currently receiving Universal Credit (UC). Initially announced in the July Economic statement, the details of the scheme have now been published and the first placements should be available from November.…Read More

  • Can I get a Customs grant?

    Newsletter issue - October 2020 Businesses need to prepare ahead of new Customs procedures coming into play in 2021 when the Brexit transition period ends. The Government has made funding available in the form of a grant to help businesses get ready. Who can apply? To qualify for a grant a business must: have been…Read More

  • VAT: changes to accounting methods used by opticians and sellers of hearing aids

    Newsletter issue - October 2020 HMRC have published Brief 14 (2020), which covers changes to the methods used by opticians and sellers of hearing aids to account for VAT on their supplies. The changes take effect from 1 October 2020. Broadly, opticians that dispense spectacles or contact lenses to their customers are treated as making…Read More

  • October questions and answers

    Newsletter issue - October 2020 Q. My mother gave my daughter £5,000 on 1 May 2016. She had not made any other gifts in previous years. Unfortunately my mother passed away on 1 September 2020. How much of the gift she gave to her granddaughter is chargeable to inheritance tax? A: Since your mother did…Read More

  • October 2020 Key tax dates

    Newsletter issue - October 2020 1 - Due date for payment of Corporation Tax for the year ended 31 December 2019 5 - If a Tax Return has not been received, individuals and trustees must notify HMRC of new sources of income and chargeability in 2019/20 14 - Return and payment of CT61 tax due…Read More

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