Accountancy Blog

Our accountancy blog is updated monthly with our opinions on a variety of issues affecting our clients and the industry sectors we cover.

Do you need to complete a self assessment tax return? What are the penalties for late submission?

The deadline for submitting your 2018/19 self assessment tax return is midnight on 31 January 2020. You need to complete a tax return if you: or your partner received Child Benefit and either of you have an annual income of more than £50,000 received more than £2,500 in other untaxed income, for example: – from […]

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2020 Letting Relief Changes – What You Need to Know

In an earlier blog post from Summer 2019, we highlighted that the Capital Gains Tax (CGT) reporting window on residential property was changing. As part of the ongoing HM Revenue & Customs (HMRC) focus on individuals that own multiple dwellings, we now want to draw your attention to changes related to the final period of […]

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Structures & Building Allowance

Structures and Buildings Allowance (SBA) is a new capital allowance introduced this year. It allows tax relief if you build, buy or lease a structure and all the related construction contracts were signed on or after 29 October 2018. This new allowance was enacted on 4 July 2019 and HMRC recently released some basic guidance […]

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Life After the Windows 7 Decade

Launched on 22 July 2009, Windows 7 has become one of Microsoft’s best-loved computing operating systems. But as the saying goes, all good things must come to an end. After 10 years, support for Windows 7 is coming to an end on 14 January 2020. Therefore, anyone who uses Windows 7, and that is still […]

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Seasonal and Temporary Staff Pension Rights

Automatic Enrolment was brought into force in April 2016 with the aim of reducing the shortfall in workplace pensions. Auto enrolment requires all employers to have an eligible pension scheme that they must enrol their eligible staff into and they must also make a 3% contribution to that scheme. To be eligible for automatic enrolment […]

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News

Coronavirus/COVID-19: Latest Update 3 July 2020 – Summary of Finance and Business Measures

This article summarises the business support measures the UK and Scottish governments, along with other NGBs and organisations have introduced as a result of the COVID-19 outbreak. Last updated 3 July: CJRS how to adjust for overclaims or underclaims made in error;  SEISS claims for second grant open 17 August For each measure we have […]


Blog

VAT Domestic Reverse Charge for the Construction Industry – What You Need to Know

HMRC have announced that the introduction of the VAT Domestic Reverse Charge (reverse charge) for the construction industry has been postponed again. Originally, the reverse charge was to be implemented on 1 October 2019, but was pushed back 12 months until 1 October 2020. The government has now announced a further five-month delay to its […]