During the lockdown period many employees and directors have not been using their company cars and it has been sitting on their driveway. You might think that means that the benefit of having a company car does not apply but unfortunately, HMRC do not agree.
The Upper Tier Tribunal has rejected an appeal by HMRC concerning whether referees officiating at matches in the Championship and lower leagues were employees of Professional Game Match Officials Limited (PGMOL).
Looking for ways to improve your business as we come out of lockdown? DPC Accountants has put together a free 101-page guide filled with bright ideas for entrepreneurs.
From 1 July 2020, Businesses will have the flexibility to bring previously furloughed employees back to work part-time – with the government continuing to pay 80% of wages for any of their normal hours they do not work up until the end of August.
The government has announced a new online service will be launched on 26 May for small and medium-sized employers to recover Statutory Sick Pay (SSP) payments they have made to their employees.
The Government stated as we reopen the economy, we need to support people to get back to work. From the start of August, furloughed workers will be able to return to work part-time with employers being asked to pay a percentage towards the salaries of their furloughed staff.
The Government has published guidance for employers to help them get their businesses back up and running and workplaces operating safely. New ‘COVID-19 secure’ guidelines are available to UK employers to help them get their businesses back up and running and workplaces operating as safely as possible.
The scheme will allow you to claim a taxable grant of 80% of your average monthly trading profits, paid out in a single instalment covering 3 months, and capped at £7,500 altogether. You will get a taxable grant based on your average trading profit over the 3 tax years:
A new Capital Gains Tax reporting and payment on account system was introduced for residential property disposals by UK resident taxpayers from 6 April 2020. The new system as originally announced required the disposal to be reported and any Capital Gains Tax on the disposal to be paid on account within 30 days of completion.
The latest Finance Bill includes important changes to private residence relief that took effect from 6 April 2020. The first change is to limit to just 9 months the period prior to disposal that counts as a period of deemed occupation and thus exempt from CGT even though the owners are not living in the property during that period.
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