Entrepreneur Relief but not as we know it

The Spring Budget 2020 announced a significant restriction on future availability of entrepreneurs’ relief (ER) for individuals who dispose of all or part of their business, individuals who dispose of shares in their personal company, and trustees who dispose of business assets. Broadly, the lifetime limit of £10m is to...

Claiming the National Insurance employment allowance for 2020/21

The National Insurance employment allowance is available to eligible employers and can be set against the employer’s secondary Class 1 National Insurance liability. In the 2020 Budget, the Chancellor announced that the allowance would be increased to £4,000 for 2020/21. However, from 6 April 2020, it is only available...

Cars and vans – What’s new for 2020/21

There are a number of changes that apply from the start of the 2020/21 tax year that relate to the taxation of company cars and vans. new way of measuring CO2 emissions The way in which the level of a car’s CO2 emissions is determined changes from 6 April 2020. The...

Coronavirus Statutory Sick Pay Rebate Scheme Has Launched

Employers are now able to make claims through the Coronavirus Statutory Sick Pay Rebate Scheme. The government has announced a new online service which launched on 26 May for small and medium-sized employers to recover Statutory Sick Pay (SSP) payments they have made to their employees. Employers are eligible if they...

Chancellor Extends Self-Employment Support Scheme

The government’s Self-Employment Income Support Scheme will be extended, giving more security to individuals whose livelihoods are adversely affected by coronavirus in the coming months, the Chancellor announced on Friday 29 May 2020. Rishi Sunak announced the Self-Employment Income Support Scheme will be extended - with those eligible able...

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