A number of benefits can be provided by employers to their staff without creating a taxable benefit in kind on the employee. These include: Trivial benefits in kind –the benefit cannot be cash, the cost does not exceed £50 and it is not provided in recognition of...
HMRC have now issued guidance for the Self-Employment Income Support Scheme fifth grant (SEISS). As predicted, the grant will be determined by a turnover test that compares the self-employed income in the 2021 tax year compared to pre-coronavirus trading. The 2021...
The deferment of self assessment tax in July 2020 originally marked as for “the self employed” has been expanded to encompass all tax payers needing to make a self assessment payment in July. However, the deferment is optional with the recommendation that if you are...
In his statement of 26 March 2020, Chancellor Rishi Sunak announced coronavirus (COVID-19) Self Employment Income Support Scheme. This had been highly anticipated having been suggested for earlier in the week, with information being available about the top figure....
The Government acted on Friday (20 March 2020) when the Chancellor issued further cashflow assistance to taxpayers to help them through the Coronavirus crisis and reinstall some confidence in the UK economy which had been in crisis throughout the week. This offer is...
We are well aware of the charge on high earners for the Child Benefit allowance, which has been in place since 2013. This means that those earning over the £50,000 have a charge which means that the benefit is completely lost for those earning more than £60,000....
