Applications for the fifth round of the self-employed income support scheme grant (SEISS 5) are due to open in late July. SEISS 5 covers the period May 2021 to September 2021 and eligibility is based on your tax returns. Am I eligible? How much will I receive?
Continue readingTag Archives: tax
Act Now! Super-deduction – a very attractive £25m tax break on capex investment
Super-deduction, a new capital investment allowance, has been introduced to boost business investment and help economic recovery. It is a great incentive to encourage businesses to invest in plant and machinery and there are very few exclusions on what can be purchased. Available for two years from April 2021, the 130% capital allowance deduction will deliver 25p off company tax bills for every £1 of qualifying spend.
Continue readingWebinar Invite: Tax Allowances 2021/22 – Use them or lose them
Following our popular Tax Saving Strategies to Implement blog, Team HB’s Amy Armitage will be joining Grosvenor Wealth Management‘s David Assor for an informative webinar on utilising the tax allowances that are available to you, to save you tax
Continue readingUK Tax Rates for 2021/2022
HB Accountants have produced a Tax Card which summarises many of the rates and allowances fundamental to your business and personal lives. It’s a great point of reference throughout the coming tax year and contains lots of information on personal, business, employment, property and capital taxes, including any changes.
Continue readingWhat does the UK Budget announcements mean for you and your business?
Rishi Sunak has set out the UK Government’s plans for recovery. The Chancellor has promised to do “whatever it takes” to help the UK’s pandemic-damaged economy. HB Accountants are here to help you #BeInformed and our budget summary gives to you overview of the key announcements arising for the Chancellor’s speech.
Continue readingVAT Deferral New Payment Scheme
To support businesses during the COVID-19 crisis, the Government announced on 20 March 2020 that VAT payments would be deferred for a three month period.
Continue readingDirectors – do you know the most tax efficient way to pay yourself?
As a director of a limited company, you are probably keen to know the most tax efficient way to take money from the company personally. This is usually by taking a combination of salary and dividends from the limited company. The salary is paid in the same way you’d pay a regular employee and needs to be reported via the HMRC’s Real Time Information (RTI) rules.
Continue readingCOVID19: Reimburse employees, tax-free, for costs incurred by working from home
If your employees are working from home at the moment, they may be saving money by not commuting or buying lunches, however, they are likely to be incurring costs, such as from increased household bills. Employers can reimburse these expenses, tax free, within prescribed guidelines. Read on to learn more.
Continue readingSpring Budget 2020
Following the UK’s departure from the EU, Chancellor Rishi Sunak presented the 2020 Budget against a backdrop of economic uncertainty caused by the spread of the coronavirus.
HB Accountants’ “Be Informed” Budget Summary provides you with an overview of the key announcements arising from the Chancellor’s speech. Measures for businesses include a capital gains tax reduction in the Entrepreneurs’ Relief lifetime limit from £10 million to £1 million, together with changes to Statutory Sick Pay for employees advised to self-isolate because of the coronavirus.
Tax tips for individuals 2019/2020
As the end of the tax year approaches, it’s a
great time to review your personal financial position and look for more
efficient ways of managing your income. Here are our top tax tips for
individuals as we approach the end of the tax year on 5th April 2020. If you
want to know more, give the tax team at HB Accountants a call.
