Tel: 07712 856364
Email: jon@proactive-accounting.com
Unfortunately, we’re in the unwelcome position of notifying all clients of further Government requirements for all Company Director. At this stage, we would also like to remind all clients that there is a new UK Government Budget due in November with heavy rumours that the chancellor intends to significantly increase business taxes. As soon of…
As of this week, the government have passed The Economic Crime and Corporate Transparency Act 2023. This bill aims to improve transparency and end the reputation the UK has built over the years as a laundromat for Russian money and international tax avoidance. Unfortunately the implications of cracking down on this activity means a steep…
As clients (who read our recent blogs or emails) will be aware HMRC are introducing a major revamp of the R&D rules for all claims submitted after 1 August 2023. This covers returns for all accounting periods beginning on or after 1 April 2023. As an additional trap, you can now no longer make retrospective…
Unfortunately, just when it appeared that HMRC’s services had reached absolute rock bottom, Jim O’Hara, the chief executive, has found new ways to slash the quality of the service. From June onwards taxpayers will no longer be able to speak to HMRC about any of their self assessment affairs for a period of three…
Last week there was a bit of a flurry in the press around the Government potentially backing a proposal by the Federation of Small Businesses and the Association of Chartered Certified Accountants to pay company directors who are compensated via Dividends an equivalent of the SEISS grants. https://www.ft.com/content/e6277d45-0383-4c46-84f7-00d53a741026 Under the proposed scheme, company directors who…
Further to our last post about the Job Support Scheme, we have to warn you that it is no longer relevant as of Monday. The government have delayed its introduction for another month, instead they have extended the older more generous scheme and will pay 80% of furloughed employee’s wages with employers covering employer’s NIC and pension…
The chancellor has set out temporary measures to support services through this period of disruption. The following measures are introduced to support businesses: Coronavirus Job Retention Scheme All UK businesses will be eligible. Under this scheme you will be able to “furlough” workers who are unable to perform their jobs because of Coronavirus. HMRC will…
How does the outbreak of Coronavirus affect your business? The Government has offered support to small to medium sized businesses with costs relating to Statutory Sick Pay (SSP) by refunding eligible SSP as a result of the COVID-19 if certain criteria are met: Must have less than 250 employees as of 28 February 2020 Can…
Below are some of the key points that may be useful to you Entrepreneurs relief under Capital Gains Tax restricted Until this budget, if you sold your business you were entitled to pay a lower rate of Capital Gains Tax of 10% (compared to 20% once you hit the higher rate tax band) on the…
Don’t Let HMRC Reject You! As we all get back to normal after a busy tax year end for 2017 we are so happy to have helped so many businesses big and small to understand their tax liability and the ways and rules of HMRC. Something that comes to light every year is new clients’…