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What’s happening?

Here you can keep up to date with our latest news, as well as the latest goings-on in the world of accounting.

If you are an employee and use your own money to buy things you need for your job, then you can sometimes claim tax relief for the associated costs. It is usually only possible to claim tax relief for the cost of items used solely for your work. You... Read More

One of the measures announced by the Chancellor, Rishi Sunak in his Summer Economic update on 8 July 2020 was the launch of the new £2 billion Green Homes Grant scheme. From September 2020, home owners and landlords in England will be able to... Read More

The fifth publication has been released ranking the service quality league table of personal and business current account providers.  For personal and small business customers, the survey is designed to show clearly how the quality of services... Read More

Needless to say, the greening does not refer to the colour of whisky. The Green agenda has received endorsement from Scotland’s world famous distilleries who are aiming to cut their emissions by almost half a million tons of CO2 every year. T... Read More

Growing a business will usually boost profits, and that's quite possibly the most common goal for businesses, right? But the secret of the business growth phase is cash flow.   It's all about timing   Inevitably, yo... Read More

One of the consequences of recession, such as the present downturn in activity caused by the Coronavirus outbreak, is the likelihood that many will face redundancy as employers try to manage the process. In the past, this shake out process seems to... Read More

One of the more insidious effects of the coronavirus outbreak is its unpredictability. Businesses need to plan. To achieve this there needs to be an underlying, stable economic platform. Lockdown – whether locally or nationally applied –... Read More

In many circumstances it can be beneficial for taxpayers to make voluntary Class 2 National Insurance Contributions (NICs) to increase their entitlement to benefits, including the State or New State Pension if they are self-employed. Taxpayers might... Read More

New credit card fees for paying HMRC are to be introduced from 1 November 2020. These changes will mean that HMRC will be able to charge anyone using a business debit card a fee for making certain payments. The fee for using a business debit card fr... Read More

The Self-Employment Income Support Scheme (SEISS) was extended for a second and final three-month period from 1 June to 31 August 2020. The maximum grant available for the three-months is £6,570 (Previous quarter £7,500) paid in a single... Read More

Calculating the adjusted net income amount is necessary if any of the following apply: A taxpayer is liable to an income-related reduction to the personal allowance when their adjusted net income is over £100,000 (regardless of their date of... Read More

The Capital Gains Tax (CGT) reporting and payment date for UK residents that sell certain residential property changed from 6 April 2020. This change meant that any CGT due on the sale of a residential property needs to be reported and a payment on a... Read More