HOW ‘SUPER’ IS THE SUPER DEDUCTION CAPITAL ALLOWANCE?
During the budget in March 2021, it was announced that Limited Companies would be able to take advantage of a new tax relief that allows them to claim £130 of tax allowance on every £100 spent on qualifying plant and machinery expenditure –with no upper limit on the...
WORKING FROM HOME TAX RELIEF
Did you know that even if you have started working back at your office now that restrictions are easing, you may still be able to claim tax relief for working from home? Previously, employees were unable to claim this relief and the only way they could obtain costs...
No Self Assessment late filing penalty for those who file online by 28 February
Self Assessment customers will not receive a penalty for their late online tax return if they file by 28 February.
Changes to R&D SME tax relief
In an attempt to prevent abuse of the R&D system, the Government is changing the limit for SME tax credit repayments. Similar to the RDEC scheme, a PAYE cap will be introduced which will limit the amount of payable tax credit, based on the PAYE and NIC costs that...