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Accounting aspects of government assistance

As businesses continue to deal with the significant level of disruption caused by the Covid-19 pandemic, HM Revenue and Customs are sending payments out to employers in respect of the Coronavirus Job Retention Scheme (CJRS) for employees that have been furloughed. For...

Business assets disposal relief

Apart from its name, what else has changed with regards to entrepreneurs’ relief? Since its introduction in 2008, the lifetime limit for entrepreneurs’ relief had steadily increased to £10m until 10 March 2020. However, at Budget 2020 the Chancellor announced...

Tax free childcare scheme

Comprehensive guidance on the government’s support for childcare. The government’s initiative to support people with the cost of childcare, the Tax-Free Childcare scheme, was opened to all qualifying families in February 2018. Tax-free childcare is not an...

ACCA on Covid-19 and impact on VAT

Deferrals, PPE and more in this handy summary. VAT deferral VAT registered business can defer VAT payments that are due from 20 March 2020 to 30 June 2020. The measure applies to payment deadlines for the following VAT quarters: 29 February 2020: normal payment...

Forms P11D – returns and key dates

A quick reference guide from ACCA for P11D forms. Manner in which provided:  Tax/NIC due: Report on: Employer arranges and pays directly for benefit Class 1A  P11D Employee arranges benefit; employer pays for it Class 1 (employee and employers) Account for NIC through...