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...
by Paul Whyatt | May 29, 2020 | Business Advice, News, Taxation
The “Test and Trace” system was launched yesterday (May 28) in England. What happens if an employee is traced and forced to self-isolate – can they claim SSP? In short, yes. Entitlement to SSP has been extended to employees who are required to...
by Paul Whyatt | Mar 3, 2020 | Business Advice, News, Taxation
The government has announced the National Insurance rates and thresholds for tax year 2020-21. These confirm the government’s commitment to increase the point at which individuals start to pay National Insurance to £9,500 per year. A typical employee will save around...
by Paul Whyatt | Feb 13, 2020 | Business Advice, News, Taxation
The UK left the EU on 31 January 2020. There is now a transition period until 31 December 2020. During this period, the current rules on trade, travel and business for the UK and EU will be unchanged. New rules will take effect on 1 January 2021. The...
by Paul Whyatt | Feb 11, 2020 | Business Advice, Personal Tax, Taxation
The tax and NI exemption for “trivial benefits” has been around for more than three years. Despite this, it’s often overlooked as a tax-efficient way of treating your employees or yourself. What is a trivial benefit? It’s a gift made by your business...
