HOW ‘SUPER’ IS THE SUPER DEDUCTION CAPITAL ALLOWANCE?

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

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...
Changes to R&D SME tax relief

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...
To buy or not to buy – Changes to Stamp Duty?

To buy or not to buy – Changes to Stamp Duty?

Last week, the Chancellor Rishi Sunak announced a range of changes to help stimulate the economy. One of the headline changes, related to Stamp Duty with a temporary overhaul to help boost the housing market. With immediate effect, buyers in England and Northern...
MTD phase 2 – End of HMRC’s “soft landing”

MTD phase 2 – End of HMRC’s “soft landing”

We are now a year in to the new MTD rules and with that, HMRC are ending their “soft landing” approach with a few changes coming into effect on 1 April 2020: – Detailed Digital Record-Keeping If you have been using bridging software to submit your returns but...