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New Offices – Update

It’s safe to say we all probably hoped for a more positive start to the year than going straight into another lockdown, but it was perhaps inevitable and many of us have found ourselves juggling working from home, teaching children and trying to stay safe and keep our spirits...

What You Need To Know About the Restart Grant Scheme

This year’s Spring Budget saw Chancellor Rishi Sunak unveil a promising Restart Grant for eligible businesses affected by the pandemic, which are reopening as lockdown restrictions lift. In this article, we’ll discuss the key details, eligibility, amounts on offer, and method of application, as many business owners consider making...

Super-deduction for capital expenditure

To encourage companies to invest, enhanced capital allowances are available for expenditure incurred within a limited two-year window. As an alternative to the annual investment allowance (AIA), companies will be able to benefit from either a super-deduction or a new first-year allowance, depending on whether the expenditure is on...

Residence nil rate band frozen until April 2026

The residence nil rate band (RNRB) is an additional nil rate band that is available for inheritance tax purposes when a main residence is left to a direct descendant, such as a child or grandchild. Adopted children, stepchildren, children fostered at any time by the deceased and a child...

Further grants for the self-employed

The Self-Employment Income Support Scheme (SEISS) has provided grant support for self-employed individuals whose business has been adversely affected by the Covid-19 pandemic. An extension to the scheme was announced at the time of the 2021 Budget. As a result, it will continue to provide support until September 2021. Three...

Your Helpful Guide to Double-entry Bookkeeping

HMRC are maintaining their commitment to Making Tax Digital (MTD); requiring everybody to maintain and digitally submit their accounting records. As such we thought it the perfect time to take a trip down memory lane; sharing a helpful summary of double-entry bookkeeping. This is the main principle of the...

Time to Pay

As part of the Chancellor's Coronavirus support package taxpayers were permitted to defer payment of the July 2020 income tax Payment on Account instalment until 31 January 2021. However, three lockdowns later and HMRC have become increasingly aware that a large number of taxpayers are still needing to delay...

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