News and Comment - Page 37 of 96 - Whitefield Tax - Isle of Wight Accountants

Visiting our Office – You Must Wear a Mask

by Jessica Garbett | Aug 3, 2020 | administration, Covid19

A quick note to highlight that from 8th August 2020 under Government rules, you must wear a mask if visiting our offices.

ACCA on Bad debt relief and VAT claims

by Jessica Garbett | Jul 31, 2020 | ACCA, VAT

A 60 second guide to VAT return adjustments on bad debt. Debts outstanding for more than six months after the later of the date when the payment was due and payable or the date of supply require adjustment in VAT returns of both the supplier and the customer....

Self Assessment – 31 July payment – Make it or Defer?

by Jessica Garbett | Jul 29, 2020 | Covid19

HMRC are deferring the Self Assessment payments due on 31 July 2020. Here are the details: Applies to all taxpayers No application or notification procedure No interest or penalties charged Government encouraging people to pay as normal on 31 July 2020 if they can...

ACCA on Treatment of coronavirus support payments

by Jessica Garbett | Jul 24, 2020 | ACCA, business taxation, Covid19

Calculating income and corporation tax after payments made under Covid-19 support schemes. New legislation will be included in Finance Bill 2020 that will apply to individuals, businesses, individual members of a partnership and employers who received or...

Making Tax Digital for Income Tax starts April 2023

by Jessica Garbett | Jul 23, 2020 | business taxation, HMRC, property taxation

It was announced this last week that Making Tax Digital for Income Tax will start from April 2023. This will apply to Sole Traders, Partnerships and Landlords with turnover (or rental income) over £10,000, who will need to: Submit returns of income and expenses...

New Briefings on our Website

by Jessica Garbett | Jul 23, 2020 | administration, WhitefieldNews

We’ve added a couple of new briefings on our website this week: Car Costs Small Business Expenses for Tax See all our Help and Guidance Help and Guidance

Extending our Reception Opening Times from August

by Jessica Garbett | Jul 21, 2020 | Covid19, WhitefieldNews

Due to Coronavirus our reception is currently working on restricted hours. From August we will be increasing the opening times, and hope to return to normal opening hours from September. Reception hours are thus: July – Mondays and Thursdays 10am to 2pm August...

ACCA on FRS 105 and Covid-19

by Jessica Garbett | Jul 17, 2020 | ACCA, business issues, Covid19, financial reporting

What impact will Covid-19 have on disclosure considerations under FRS 105? Coronavirus has created a high level of uncertainty, not only in daily life but also in the financial position of businesses. During these difficult times, accountants have a dual...

ACCA on Updates to the Coronavirus Job Retention Scheme (CJRS)

by Jessica Garbett | Jul 10, 2020 | ACCA, business taxation, Covid19

HMRC has updated its guidance on CJRS with various updates for employers as well as employees. One of the key changes to the Scheme is that employees who have previously been furloughed can be brought in to work flexibly from 1 July, enabling employers to use...

July 2020 Coronavirus Mini Budget

by Jessica Garbett | Jul 8, 2020 | budget, business issues, business taxation, Covid19

Please note this content was written contemporaneously, and may well now be superseded Today – 8 July 2020 – saw a Mini Budget to report some updated Government spending and taxation decisions as part of the Coronavirus response. Main New Announcements...

ACCA on Benefits in kind – tax treatment for the employer

by Jessica Garbett | Jul 6, 2020 | ACCA, business taxation, employer returns, expense payments

A handy summary of how to treat benefits in kind. Income tax and corporation tax While the treatment of benefits provided by an employer follows much the same rules for both corporation tax and income tax on trading profits, there are key differences in how the...

ACCA on Company filing – summary of amendments

by Jessica Garbett | Jul 3, 2020 | ACCA, business issues, Covid19

Be aware of immediate new measures and those which will be effective in secondary legislation. The Corporate Insolvency and Governance Bill received royal assent and is now an Act. Some of the measures in the Act will come into effect immediately and...

Accounting aspects of government assistance

by Jessica Garbett | Jun 26, 2020 | ACCA, Covid19

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

by Jessica Garbett | Jun 24, 2020 | ACCA, capital taxation

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...

IHT exemption – Emergency Responders – Volunteers and Employees

by Jessica Garbett | Jun 22, 2020 | ACCA, capital taxation, Covid19

Inheritance Tax Act 1984 S153A provides an exemption from Inheritance Tax for an emergency responder whose death occurs as a result of responding to emergency circumstances. The exemption applies where the death results from: an injury sustained, accident occurring,...

Visiting our Office – You Must Wear a Mask

ACCA on Bad debt relief and VAT claims

Self Assessment – 31 July payment – Make it or Defer?

ACCA on Treatment of coronavirus support payments

Making Tax Digital for Income Tax starts April 2023

New Briefings on our Website

Extending our Reception Opening Times from August

ACCA on FRS 105 and Covid-19

ACCA on Updates to the Coronavirus Job Retention Scheme (CJRS)

July 2020 Coronavirus Mini Budget

ACCA on Benefits in kind – tax treatment for the employer

ACCA on Company filing – summary of amendments

Accounting aspects of government assistance

Business assets disposal relief

IHT exemption – Emergency Responders – Volunteers and Employees

Register for our Newsletter

Whats Current?

Latest News

Search News by Date or Category

From our daughter business YogaTax