by Paul Whyatt | Jun 17, 2020 | Business Advice, News, Taxation
Many businesses affected by the current crisis have received financial help from the Small Business Grant Fund (SBGF) and Retail, Hospitality and Leisure Grant Fund (RHLGF). If your business has received such a grant, do you have to pay tax on it? Taxable or...
by Paul Whyatt | Jun 16, 2020 | Personal Tax
We recommend that you complete your self-assessment tax return as soon as possible after the end of the tax year (5 April), so you can plan for any tax bill. The final deadline for submission of your 2019/20 tax return to HMRC is 31 January 2021, together with any...
by Paul Whyatt | Jun 15, 2020 | News, Taxation
HMRC has updated its advisory fuel rates (AFRs) for cars from 1 June 2020. The old rates can still be used until 30 June. For details of the new rates, see: HMRC Advisory Fuel Rates from 1 June 2020 If you need advice on this or any other accountancy, tax...
by Paul Whyatt | Jun 15, 2020 | Business Advice, Business Start-up, Taxation
If you have a business which has a turnover below the current VAT registration threshold (£85,000), you can choose to voluntarily register for VAT. Whether this is worthwhile will depend on your specific circumstances. The key advantages and disadvantages of a...
by Paul Whyatt | Jun 12, 2020 | Business Advice, Taxation
Small and medium sized companies which incur qualifying R&D expenditure can claim generous corporation relief of 230% x qualifying R&D costs. This means that if a company spends £100 on R&D, it will receive tax relief as if it had spent £230. Where a...
