The Red Diesel Reform The government is making changes to the way Red Diesel is taxed from 1st April 2022. These new restrictions will result in no tax relief for several industries meaning they can no longer use it. What is red diesel? This is diesel that has been dyed red to....
The UK leaving the EU means no longer being part of the EU’s Common Agricultural Policy. For this reason, the Government has set out plans for a seven-year agricultural transition to the new system which will reward farmers for environmental improvements alongside food production on their land. One of the new schemes, labelled....
As midnight hit on 31st January, most accountants rejoiced knowing their returns were all submitted on time. We were no different, immediately turning our attention to the big changes to come throughout 2021. We thought now would be the perfect time to update you on the major changes in legislation that you may need to....
2 years ago, the annual investment allowance increased from £200.000 to £1,000,000 for a limited time. That was due to end on 31st December 2020 but it has recently been announced that the £1 million pound cap has been extended until 1st January 2022 in a bid stimulate investment in UK manufacturing. ....
Coronavirus: Job Retention Scheme Extension… On 31st October the Prime Minister announced that the Job Retention Scheme (JRS) would be extended for a further month. We are awaiting finalised information but currently available information is summarised below: The Job Support Scheme has been postponed and will be reviewed once the extended....
Coronavirus: Winter Economic Plan… Boris Johnson announced new coronavirus restrictions on Tuesday which could last six months. Following this announcement Chancellor Rishi Sunak delivered a statement on Thursday setting out plans to help workers and businesses hit by these new coronavirus restrictions. If you have any concerns, general queries, or specific questions on....
Coronavirus: Self Employed Income Support Scheme – Round 2… While the first round of Self Employed Income Support Scheme (SEISS) grants is running to a close in the coming weeks, the scheme has been extended with a second (and final) round of grants scheduled to be made available in August. This second round....
Coronavirus: Job Retention Scheme – Update.. On 29 May chancellor Rishi Sunak, announced changes to the rules affecting furlough, more formally known as, the Coronavirus Job Retention Scheme (CJRS). Flexible furloughing From 1 July 2020, there is the flexibility to bring previously furloughed employees back to work part-time – with....
Coronavirus: Sick Pay Rebate Scheme Opens 26 May… One of the longer acronyms emerging from the raft of new legislation to support businesses through the coronavirus pandemic, the CSSPRS, or Coronavirus Statutory Sick Pay Rebate Scheme, will be going live in the next week. Claims are to be made through the CSSPRS....
Coronavirus: Self Employed Income Support Scheme Update… HMRC has begun contacting taxpayers who may be eligible for the Self-employment Income Support Scheme (SEISS) this week. The communication received from HMRC includes instructions for when the claim portal opens. Do not worry if you have not yet received communication from HMRC. Information is....