We have listed below a number of ideas that might ease your progress through any continuing COVID-19 related disruption during 2022. The following comments are not advice. Every business is different so please call if you have concerns due to a reduction in trade this year. Mothball investment plans. Could you defer decisions on buying […]

We are now two years into the COVID-19 pandemic and the virus is showing a remarkable ability to adapt. In its latest form, the Omicron variant, it is proving to be more transmissible and successful at seeking out new hosts. If we have learnt anything from the experience of the past two years of anxiety […]

We are all ‘up to here’ in accommodating COVID-19, and depending on our tolerance levels, this is likely to continue into 2022. There are remote signs that a combination of vaccines and/or anti-viral drugs will eventually arrest the spread of this infection, but we will have to face disruption in economic activity next year and […]

From 15 December 2021, the government is making the following reductions to the grants made available for certain electric vehicle purchases. It will provide grants of up to £1,500 (previously £2,500) for electric cars priced under £32,000. There are currently around 20 models on the market that would qualify for this grant. Support for wheelchair […]

Many individuals and businesses will have been affected by the disruption in electricity supplies due to recent storm damage. Most of the serious damage that disrupted supplies was reconnected fairly quickly, but for many home and business owners, reconnection has become a protracted affair. A recent letter from the Secretary of State for Business to […]

January 2022 is a ‘taxing’ month. It is the last month to file a self-assessment tax return (electronically) for 2020-21 and avoid late filing penalties. It is also a month when significant tax bills may become payable. Companies Companies that have a 31 March 2021 year end will need to pay any corporation tax due […]

A reimbursement of expenditure incurred by an employee in travelling between two or more places of work is not “earnings” and therefore not taxable. This is because the expenditure would be an allowable claim if the employee had paid it out of their remuneration, as he or she would be travelling in the performance of […]

We are fifteen months away from a radical upward lift in corporation tax (CT) rates. From 1 April 2023, there will be two rates of CT: A small profits rate which will stay at the present 19% and will apply to companies with profits up to £50,000. An increased main rate, which will be set […]

1 December 2021 – Due date for corporation tax payable for the year ended 28 February 2021. 19 December 2021 – PAYE and NIC deductions due for month ended 5 December 2021. (If you pay your tax electronically the due date is 22 December 2021). 19 December 2021 – Filing deadline for the CIS300 monthly […]

Readers should take note of the following changes: Income Tax Allowances frozen: The Income Tax personal allowance and the rates and bands are frozen until April 2026. Whilst this is not a direct tax increase, it does mean that any increases in earnings will be fully taxed and certain taxpayers may find that this process […]