HMRC confirms MTD for corporation tax to be mandated from 2026
In a new consultation HMRC has confirmed that Making Tax Digital for corporation tax (MTD for CT) will not be implemented until 2026 ‘at the earliest’. The consultation considers how…
Tax
£1 million Annual Investment Allowance cap extended
The Treasury has confirmed that the £1 million cap on the Annual Investment Allowance (AIA) is to be extended for an additional year as the government continues to look at…
Virtual Christmas parties will qualify for tax exemption
HMRC has confirmed that they will accept a virtual Christmas party as an event which is capable of falling within the tax exemption rules for annual functions. The Association of…
54,800 customers claim tax relief for working from home
HMRC has received more than 54,800 claims from taxpayers using a new online portal which allows workers to claim tax relief for working at home. From 6 April 2020, employers…
Self assessment customers to benefit from enhanced payment plans
Self assessment taxpayers are now able to benefit from enhanced payment plans and can apply online for additional support to help spread their tax bill into monthly payments. The online…
Increased support made available for the self employed
The government has increased the support available to self-employed workers and extended its emergency business loan schemes as the UK heads for a second national lockdown. On 5 November Rishi…
ATT issues last call for firms seeking to use increased Annual Investment Allowance
The Association of Taxation Technicians (ATT) has issued a last call for businesses looking to make use of the increased Annual Investment Allowance (AIA). The AIA will be reduced from…
November lockdown – Coronavirus Support Measures
Following the announcement by the Prime Minister on Saturday for a four week lockdown, further support measures have been announced and we will be making some changes to our office…
New Coronavirus Financial Support Measures
The Chancellor announced a number of new support measures for those affected by COVID on 24 September. Jobs Support Scheme The existing Furlough scheme is due to end on 31…
Pension Awareness Week – How Simpson Wood Financial Services can help
As Pension Awareness Week draws to a close we wanted to show how we are able to help you with your pensions. Within the UK we are currently facing a…
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