News and Comment - Page 37 of 95 - Whitefield Tax - Isle of Wight Accountants

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,...

Tax free childcare scheme

by Jessica Garbett | Jun 19, 2020 | ACCA, Covid19, personal finance

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...

CGT and the disposal of residential properties

by Jessica Garbett | Jun 17, 2020 | ACCA, capital taxation

A walk-through of the real time capital gains tax service. From 6 April 2020, UK residents within the charge to capital gains tax (CGT) face yet another change for direct disposals on residential properties – a return and payment of CGT has to be made within 30 days...

Coronavirus – Temporary changes to pension tax

by Jessica Garbett | Jun 15, 2020 | ACCA, Covid19, pensions, personal finance

For public sector workers returning to support the government’s response to Covid-19, the government suspended the tax rule that would otherwise apply significant tax charges to pension income received by recently retired individuals aged between 50 and 55. As these...

Flexibility for insolvent businesses

by Jessica Garbett | Jun 12, 2020 | ACCA, business issues, Covid19

ACCA on what the Corporate Insolvency and Governance Bill means for businesses. What is the purpose? The UK government recognises that businesses are going through an unprecedented time and it is trying to provide some additional benefits to businesses and directors...

ACCA on Covid-19 impact on maternity, paternity and adoption pay

by Jessica Garbett | Jun 11, 2020 | ACCA, business issues, Covid19, employer returns, personal finance

Changes to ensure furloughed employees are not disadvantaged. There has been a change in the calculation of leave for employees addressing the fact that a furloughed employee may be disadvantaged. The Entitlement to Statutory Maternity Pay and other forms of parental...

Deferral – VAT – Domestic Reverse Charge for Building and Construction Services

by Jessica Garbett | Jun 9, 2020 | business issues, VAT

The VAT Domestic Reverse Charge for Building and Construction Services has been deferred again. Originally it was October 2019, then October 2020, now 1 March 2021 (not the start of the tax year, which you may expect). See our previous guidance on the topic VAT...

ACCA on Covid-19 and impact on VAT

by Jessica Garbett | Jun 8, 2020 | ACCA, Covid19, 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...

Covid-19 impact on HMRC reasonable excuse and appeals

by Jessica Garbett | Jun 5, 2020 | ACCA, business taxation, Covid19, enquiries and tax disputes, personal taxatation

Covid-19 and reasonable excuses. HMRC considers Covid-19 as a reasonable excuse for failure to comply with certain tax obligations (such as payments or filing dates), provided failure to comply is remedied as soon as it is possible to do so. In cases other than...

Forms P11D – returns and key dates

by Jessica Garbett | Jun 3, 2020 | ACCA, employer returns

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...

Coronavirus Self Employed Income Support Scheme extended with “Second and Final Grant”

by Jessica Garbett | Jun 1, 2020 | Covid19

There was an announcement on Friday 29 May 2020 of an extension to the Coronavirus Self Employed Income Support Scheme (SEISS) by way of a “Second and Final Grant”. To recap the SEISS: Eligibility Must have been Self Employed in 2018-19 Must be intending...

Latest Changes to Coronavirus Job Retention Scheme (CJRS)

by Jessica Garbett | Jun 1, 2020 | Covid19

On Friday last week, 29 May 2020, some further changes were announced to the Coronavirus Job Retention Scheme. First, as previously announced the scheme is extended until 30 October 2020, but its closed to new entrants from 30 June. In Government’s words...

Coronavirus Job Retention Scheme (updated 1 June)

by Jessica Garbett | Jun 1, 2020 | business issues, Covid19

We have seen detailed guidance on the Coronavirus Job Retention Scheme – the 80% subsidy – published 26 March 2020, and broadly as expected. Some extra clarification was added by Government on 4 April 2020, and this is reflected in this post around Company...

Coronavirus Self-employment Income Support Scheme (updated 1 June 2020)

by Jessica Garbett | Jun 1, 2020 | business issues, Covid19

This has been announced today, details are evolving, but this is what we know: a taxable non repayable grant for Self Employed and Partners – not company directors only available if your average profits over 16/17, 17/18 and 18/19 less than £50,000 grant is 80%...

Coronavirus Local Authority Discretionary Support – Isle of Wight

by Jessica Garbett | May 27, 2020 | Covid19

A few weeks ago it was announced by Government that Local Authorities would receive funding for discretionary business support in their areas in respect of Coronavirus disruption. As this scheme is discretionary and Local Authority managed you will need to enquire as...

« Older Entries

Next Entries »

IHT exemption – Emergency Responders – Volunteers and Employees

Tax free childcare scheme

CGT and the disposal of residential properties

Coronavirus – Temporary changes to pension tax

Flexibility for insolvent businesses

ACCA on Covid-19 impact on maternity, paternity and adoption pay

Deferral – VAT – Domestic Reverse Charge for Building and Construction Services

ACCA on Covid-19 and impact on VAT

Covid-19 impact on HMRC reasonable excuse and appeals

Forms P11D – returns and key dates

Coronavirus Self Employed Income Support Scheme extended with “Second and Final Grant”

Latest Changes to Coronavirus Job Retention Scheme (CJRS)

Coronavirus Job Retention Scheme (updated 1 June)

Coronavirus Self-employment Income Support Scheme (updated 1 June 2020)

Coronavirus Local Authority Discretionary Support – Isle of Wight

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