Companies can claim super-deduction from 1 April
The new super-deduction tax break is available on most new plant and machinery investments that ordinarily qualify for 18% main rate.
Temporary carry back of losses
A new temporary extension to the eligible carry back period for trading losses has been announced allowing trading losses to be carried back for 3 years.
Spring Budget 2021 – CJRS and SEISS schemes extended
The Coronavirus Job Retention Scheme (CJRS) commonly known as the furlough scheme will be extended until the 30 September 2021.
What home office expenses can I claim as a limited company director?
Many small companies perform a lot of work from home. One of our most frequently asked questions s what expenses can you legitimately claim back?
Carry a company trading loss back to previous years
Corporation Tax relief may be available where your company or organisation makes a trading loss. A qualifying trading loss may be used to claim relief.
VAT Deferral
HMRC has issued some guidance to taxpayers that deferred their VAT payments between 20 March and 30 June 2020 and still have payments to make.
COVID-19 Government support and Grants available in 2021
Government grants will continue for the foreseeable future and certainly until 31 March 2021. The main grants and supports available now are outlined below.
Minimum Wage Increases From April 2021
Increased minimum wage rates have been announced to take effect from 1 April 2021. The National Living Wage (NLW) will increase by 2.2%.
VAT – transfer of business as going concern
The transfer of a business as a going concern rules concern the VAT liability on the sale of a business. Find out more here.
Business Asset Disposal Relief
Business Asset Disposal Relief used to be known as Entrepreneurs’ Relief before 6 April 2020. The relief was renamed in Finance Act 2020.
