Accounting News

COVID-19 – Expanded Retail Discount Scheme

COVID-19 – Expanded Retail Discount Scheme

The government has launched an Expanded Retail Discount Scheme, providing 100% business rates reliefs to certain businesses in 2020/21, regardless of their rateable value. Please note that this applies to England only. Properties that will benefit from the relief will be...

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COVID-19 – Support For The Self Employed

COVID-19 – Support For The Self Employed

Millions of self-employed individuals will receive direct cash grants to help them during the coronavirus outbreak. In the latest step to protect individuals and businesses, the Chancellor Rishi Sunak, has set out plans that will see the self-employed receive up to...

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A Guide To The Budget 2020

A Guide To The Budget 2020

On 11 March 2020, the Chancellor of the Exchequer, Rishi Sunak, delivered his first Budget in the House of Commons. Just before the Budget announcement, Mark Carney from the Bank of England announced a reduction in UK interest rates from 0.75%...

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IT Consultant Held Contract For Services

IT Consultant Held Contract For Services

HMRC’s application of the IR35 rules remains ambiguous after an IT contractor successfully appealed to the First Tier Tribunal (FTT) against a tax charge arising under the intermediaries' legislation. In RALC Consulting Ltd v HMRC [2019] TC 07474, the FTT allowed...

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Allowable Finance Costs

Allowable Finance Costs

Although the way in which landlords obtain relief for finance costs on residential properties is changing, there is no change to the type finance costs that are eligible for relief. What Qualifies For Relief The basic rule is that relief is available...

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Make Use Of The Capital Gains Tax Inter-Spouse Exemption

Make Use Of The Capital Gains Tax Inter-Spouse Exemption

There are a number of tax concessions available to married couples and civil partners which recognise that their financial affairs may be interlinked. One of these concessions relates the transfer of assets between spouse and civil partner for capital gains...

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