DPC Blog - Latest news | DPC Accountants, Stoke on Trent

New Enhanced Loss Relief Rules May Result In Extra Tax Refunds

In the March Budget it was announced that the normal one year carry back for trading losses would be extended to three years. This means that many businesses that have made losses during the COVID-19 pandemic may be able to obtain a repayment of tax paid in that three-year period. This enhanced carry back applies to unincorporated businesses as well as limited companies and the details are set out in the latest Finance Bill

27th May 2021

No Employers NICS For A Year If You Hire Ex-military Staff

The Government have announced a one-year exemption from paying employers national insurance contributions (NICs) where military veterans are recruited by civilian employers. Employers can claim

27th May 2021

Associated Companies Count For New Corporation Tax Rates

A 25% rate of corporation tax will apply to all of a company’s profits if they exceed £250,000 from 1 April 2023. The 19% rate will continue to apply where profits are below £50,000. The marginal rate that applies between those limits will be 26.5%.

27th May 2021

Making Tax Digital Extended To More Businesses

Currently only VAT registered businesses making taxable supplies in excess of the £85,000 VAT registration threshold are mandated to comply with Making Tax Digital (MTD) rules. Those rules require the business to keep digital business records and send VAT returns using MTD-compatible software.

27th May 2021

Details Of Fourth Self-employed Income Support Grant

Like the CJRS scheme for employers the Self-Employed Income Support Scheme (SEISS) has been extended to September 2021and details of claims for the fourth grant have now been released. This fourth grant covers February, March and April 2021. There will then be a fifth grant covering May to September 2021.

27th May 2021

Details Of Latest CJRS “Furlough” Grants

The fourth version of the CJRS “furlough” grant scheme starts on 1 May 2021 and will run until 30 September with employees affected continuing to be supported such that they are entitled to be paid at least 80% of their “usual pay” subject to a limit of £2,500 a month for hours not worked.

27th May 2021