Karen Keeling

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Working from home – Tax Relief

If you have previously been an office worker and have been working from home during the current Coronavirus crisis, you are able to claim the working from home tax allowance. For the 2020-2021 tax year, employees can claim up to £6 a week or £26 month in tax relief for working from home. This can… Read More

Time to Pay – January 2021 Tax Liability

Those struggling to pay the tax becoming due on 31 January 2021 have been granted further time to pay as part of the winter economy package announced on 24 September. HMRC has increased the threshold for paying tax liabilities by instalments to £30,000 from the previous limit of £10,000. If you want to take advantage… Read More

Temporary reduction in Stamp Duty Land Tax

In the Chancellor’s Summer Statement, Rishi Sunak announced a Stamp Duty Land Tax (SDLT) holiday to take effect from 8 July until 31 March 2021 in England and Northern Ireland in an attempt to boost the property market. The changes mean that for people buying their main home (in England and NI) where the value… Read More

Deferral of 31 July 2020 Payment on Account

Under the Government’s time to pay measures introduced in the wake of the Coronavirus pandemic, HMRC advised that anyone struggling to pay the July 2020 payment on account could defer payment until 31 January 2021. HMRC have confirmed that their IT system has been updated so that deferred payments don’t incur any late payment interest… Read More

Latest guidance from HMRC on Furloughing through the Job Retention Scheme

21 April: In week 5 of the UK lockdown, here is our update on the Government’s guidance on how Furloughing under the Job Retention Scheme will work: A few highlights: The Scheme has now been extended to 30 June from the original date of 31 May Minimum furlough period – 3 weeks Claim to be… Read More

Furlough – Waiting for the portal to open

16 April: It seems the vast majority of businesses are having to furlough at least some of their employees and all of them are waiting for HMRC’s new portal to open on 20 April. Statistics It is estimated that there are more than 30 million workers in the UK, of which about 25 million are… Read More

Help for the self employed affected by the coronavirus outbreak

Friday 27 March: Last night the chancellor announced further assistance in the form of a taxable grant called The Coronavirus Self-Employment Income Support Scheme HMRC will use existing information to identify those eligible and will invite applications for the scheme.  In this application you will be required to demonstrate that you meet the eligibility requirements.  The… Read More

Corporation Tax: Summary of instalment payment regime

Small companies pay their corporation tax nine months and one day after the accounting year end. However, companies that are classified as ‘large’ or ‘very large’ are required to make quarterly corporation tax instalment payments. These instalments must be based on an estimate of the tax that will be due, and interest will be charged… Read More

Capital Gains tax changes on private residence from April 2020

Property owners with taxable gains on their residential properties need  to be aware of the changes to how the tax is paid and changes to valuable exemptions. Under the current system, these gains would be reported in the self assessment tax return and the tax is payable on 31st January after the tax year in… Read More

HMRC VAT Investigations

Our experience shows that many of the tax investigations we handle are VAT investigations. This can be a very stressful time for the client and such investigations can be time consuming and lengthy in process. Such investigations can take anywhere in the region of three months to eighteen months to reach a conclusion depending on… Read More