Tax Advice and Accounting Resources

5 key ways to minimise negative stress on your business

Covid-19 has hit businesses in a way that no-one could have imagined. With nearly two-thirds of entrepreneurs feeling their business might not…

By RJP LLP on 13 January 2021

Coronavirus Advice

Lockdown 3.0: New £4.6 billion package of grants unveiled for businesses in new lockdown

New Year, New Lockdown. The Chancellor Rishi Sunak has confirmed that firms who will suffer during the new lockdown are to receive…

By RJP LLP on 5 January 2021

VAT

Post Brexit Advice for Businesses

General If you are importing or exporting goods after 31st December, you will need an EORI number. You can apply online and…

By RJP LLP on 16 December 2020

Business Services • Business Tax • VAT

Planning for Brexit: Services provided by businesses for consumers in the EU

If you currently provide B2C services to customers in the EU, you should be aware of some important changes to the way…

By RJP LLP on 15 December 2020

Accountancy • Bookkeeping • Business Services • Services • VAT

EORI – The one thing your business might need before Brexit

Given that Brexit negotiations are still not concluded, there is still a fair amount of uncertainty in the business community over what…

By RJP LLP on 7 December 2020

Accountancy • Bookkeeping • Business Tax • Coronavirus Advice • Corporate Taxation • Small Business • Tax Planning • Tax Relief

What are the tax free rules for a Covid Christmas?

This year the usual work Christmas parties and team dinners are not going to be possible for obvious reasons and a lot…

By RJP LLP on 7 December 2020

VAT

New VAT deferral payment scheme announced

One aspect of the Chancellor's Winter Economy Plan that has not been postponed is the VAT deferral scheme. According to this, if…

By RJP LLP on 30 November 2020

Coronavirus Advice • Corporate Taxation • Personal tax • Small Business • Tax Planning

Tax efficient remuneration ideas during a pandemic

As a result of the COVID-19 pandemic, your company’s business may be running at a loss or facing reduced profit levels this…

By RJP LLP on 25 November 2020

Business Tax • capital allowances • Tax Planning

£1m capital allowances extension available for another 12 months

If your business is making ongoing investments to adjust to the Covid pandemic, you may be cheered to learn that the current…

By RJP LLP on 18 November 2020

Business Services • Coronavirus Advice • Payroll Tax

Changes to the furlough scheme

Updated: 18 December 2020 The Coronavirus Job Retention Scheme (furlough scheme) has been extended again and will currently finish on 30 April 2021.…

By RJP LLP on 17 November 2020

Coronavirus Advice • government • Small Business

Lockdown 2.0: Furlough scheme will be extended until the end of April 2021

Updated: 18 December 2020 Rishi Sunak has confirmed that the furlough scheme will be continuing until 30 April 2021. The scheme will…

By RJP LLP on 5 November 2020

Coronavirus Advice • financial advice • government

Lockdown 2.0: Extra support measures announced for businesses and individuals

England is entering a second lockdown on 5 November 2020 and the government has announced some additional support measures to ease the…

By RJP LLP on 3 November 2020

Coronavirus Advice • Services • Small Business

Lockdown 2.0: Self-employed to get enhanced 80% grant matching furlough scheme

On 5 November 2020, people in England will wake up to a second lockdown that sees restaurants, pubs, gyms and leisure centres…

By RJP LLP on 3 November 2020

Business Services • Coronavirus Advice • government • Small Business

Get ready for Lockdown 2.0: What you should know about the extended furlough scheme

As a result of the impending second lockdown, the UK government has confirmed the existing Coronavirus Job Support Scheme (CJRS) will continue.…

By RJP LLP on 2 November 2020

Business Services • Business Tax • VAT

Get your VAT ‘Brexit ready’!

You’ve probably seen the TV advertising campaign urging us to ‘get Brexit-ready’! But what does getting ‘Brexit-ready’ entail when it comes to…

By RJP LLP on 27 October 2020

Coronavirus Advice • government • Small Business

Increased support for Covid hit jobs and workers unveiled

Updated: 12 November 2020 Rishi Sunak has confirmed the Job Support Scheme (JSS), which was due to replace furlough from 1 November…

By RJP LLP on 22 October 2020

Personal tax • Property • Tax Planning • Tax Relief • tax returns

What powers does HMRC have to spot missing rental income?

If you have a rental property, it is important to report the rental profits to HMRC on a self-assessment tax return. HMRC…

By RJP LLP on 12 October 2020

Accountancy • Bookkeeping • Coronavirus Advice • financial advice • government • Services • Small Business

How to apply the new Job Support Scheme across your workforce

Updated 12 November 2020 The furlough scheme (Coronavirus Job Retention Scheme) will now be ending at the end of March 2021 and…

By RJP LLP on 12 October 2020

Coronavirus Advice • HMRC • Personal tax

New details of enhanced Time to Pay for self-assessment tax

In his Winter Economy Plan, Rishi Sunak announced some new, enhanced payment arrangements for people who are paying income and capital gains…

By RJP LLP on 7 October 2020

business finance • Business Services • Coronavirus Advice • government

Update for employers: Will you be eligible for the Covid-19 Job Retention Bonus?

Updated: 12 November 2020 Due to the continuation of the furlough scheme until March 2021 the Job Retention Bonus (JRB), a one-off,…

By RJP LLP on 7 October 2020

Budget stuff • business finance • Business Services • Coronavirus Advice • government • Small Business

Covid Business Support: How could you benefit from the Winter Economy Plan?

Rishi Sunak cancelled his Autumn Budget. The host of measures (including tax increases) to recoup the large investment made in supporting the…

By RJP LLP on 24 September 2020

Capital Gains Tax • Personal Taxation

Mitigating tax changes: How to reduce your capital gains tax bill

It is well known that capital gains tax (CGT) is currently under review and that increases for wealthy taxpayers are very likely.…

By RJP LLP on 23 September 2020

capital allowances • Personal tax • Property • Tax Planning

Why is a holiday let more tax efficient that a normal buy-to-let?

This summer’s staycation boom, the prospect of Brexit and the temporary reduction in stamp duty rates have left many people thinking about…

By RJP LLP on 23 September 2020

IHT • probate • Probate and Inheritance Tax

News update: Video wills become legal

The Covid-19 pandemic has brought about many changes, a lot of which involve the use of technology in our daily lives; from…

By RJP LLP on 23 September 2020

Capital Gains Tax • Coronavirus Advice • Personal tax • Property • tax returns

5 ways landlords can offset financial losses due to Covid-19

Although there have been a number of schemes available to support taxpayers through the Covid-19 pandemic, some have been more generous than…

By RJP LLP on 22 September 2020

financial advice • pensions

Private pension withdrawal age raised to 57

Currently, taxpayers are entitled to take some, or all of the cash held in their private pension fund at age 55, including…

By RJP LLP on 22 September 2020

Coronavirus Advice • financial advice • governance

Update on CJRS: New HMRC letters are alarming employers

The extent to which fraudulent claims for furlough scheme grants have been made is now becoming very apparent. HMRC thinks that between…

By RJP LLP on 16 September 2020

capital gains tax (cgt) • Property • Tax Planning

Update: 30 days to pay investment property CGT

The sale of a UK residential property which gives rise to a Capital Gains Tax liability now needs to be reported to…

By RJP LLP on 8 September 2020

Business Services • Business Tax • HMRC • Small Business • Tax Planning • Taxation

Vans redefined as cars. What are the vehicle tax implications?

In the recent case of Payne, Garbett and Coca-Cola European Partners Great Britain Ltd vs HMRC it was upheld that some modified ‘crew-cab’…

By RJP LLP on 27 August 2020

Business Services • Coronavirus Advice • financial advice

Covid-19: Claims open for second and final self-employed support grant

The government’s second and final grant for the self-employed has opened for applications. This offers a chance for three million people who…

By RJP LLP on 18 August 2020

Capital Gains Tax • Personal tax

Consider a capital asset review before December 2020

It has been widely reported that the chancellor has asked The Office of Tax Simplification (OTS) to investigate whether capital gains tax…

By RJP LLP on 17 August 2020

Business Services • Coronavirus Advice • financial advice • insolvency

Revisions to insolvency laws due to Covid-19

The Corporate Insolvency and Governance Bill received royal assent on 25 June 2020 and is now an Act. It was introduced to…

By RJP LLP on 17 August 2020

Uncategorized

Why ask an accountant to obtain Grant of Probate?

Looking at some of the questions we are asked by clients, the issue of probate comes up regularly. In particular, we are…

By RJP LLP on 17 August 2020

Business Services • Coronavirus Advice • Services

Getting ready for the end of furlough support

Updated: 25 September 2020 As confirmed by the government, furlough grants are set to end in October 2020. If your business…

By RJP LLP on 17 August 2020

capital gains tax (cgt) • Coronavirus Advice • Personal tax • Tax Planning

Possible Capital Gains Tax review on the horizon

Rishi Sunak has dropped some heavy hints that taxes will be increasing to cover the cost of the financial support provided by…

By RJP LLP on 23 July 2020

Business Tax • Coronavirus Advice • VAT

How to apply the temporary 5% VAT rate – Update for the hospitality sector

Tim Martin of Wetherspoons has been campaigning for years for the VAT to be reduced in respect of hospitality and shortly after…

By RJP LLP on 17 July 2020

Coronavirus Advice • HMRC

What to expect from ‘Time to Pay’

Time to Pay is an arrangement operated by HRMC to allow taxpayers who cannot pay their tax liabilities to negotiate a personal…

By RJP LLP on 17 July 2020

Budget stuff • Business Services • Business Tax • Coronavirus Advice • HMRC • Tax Relief • VAT

Summer Budget 2020 Update

There has been a lot of speculation over recent weeks regarding the contents of Rishi Sunak’s summer budget. We all anticipated changes…

By RJP LLP on 8 July 2020

Business Tax • Coronavirus Advice • VAT

VAT payment holiday window ends on 30 June 2020

The VAT payment holiday which was announced in Rishi Sunak’s speech on 20 March 2020 will be ending on 30 June 2020.…

By RJP LLP on 26 June 2020

Business Services • Coronavirus Advice • HMRC

Furlough Scheme Fraud

The government’s furlough scheme, known as the CJRS (Coronavirus Job Retention Scheme), was launched very quickly and those using it have been…

By RJP LLP on 23 June 2020

Business Tax • Uncategorized • VAT

Domestic reverse charge VAT rules are delayed until 2021

Some important VAT changes planned for the construction industry have been further delayed as a result of the impact of Covid-19. This…

By RJP LLP on 17 June 2020

Coronavirus Advice • R&D Tax Credits • Tax Relief

Could you claim R&D tax credits for Covid-19 innovation?

As businesses enter Covid-19 recovery mode, many will have secured financial support such as a government bounce back loan for its attractive…

By RJP LLP on 16 June 2020

Business Services • Business Tax • Coronavirus Advice

The Updated Furlough Scheme – claims for June and July 2020

There is effectively a new furlough scheme from 1 July 2020. This article considers the practicalities for June and July 2020 claims…

By RJP LLP on 16 June 2020

Business Services • Personal Taxation • Tax Relief

Case update: New ruling over tax relief and SIPPs

A recent HMRC tax tribunal ruling has created a great deal of controversy in the pensions industry because it could mean that…

By RJP LLP on 16 June 2020

Business Tax • Coronavirus Advice • Share Schemes

How can Covid-19 present an opportunity for employee share schemes?

Employee share schemes can be highly tax efficient and are a proven way to increase employee loyalty and productivity. Now, as we…

By RJP LLP on 16 June 2020

Business Tax • Personal tax • Property • Services

Reminder: Is an In-Year ATED Return due on your company’s residential property?

Many people are choosing to own residential rental properties within a company structure (known as an enveloped dwelling). This form of ownership…

By RJP LLP on 16 June 2020

Business Services • Coronavirus Advice

Extension to the self employment support scheme

The self employment support scheme is being extended, Rishi Sunak has announced, and those who are eligible for the scheme will now…

By RJP LLP on 1 June 2020

Business Services • Business Tax • Coronavirus Advice • Personal Taxation

The Updated Furlough Scheme

On 29th May 2020 the Chancellor announced details of how the furlough scheme will operate from 1 July 2020. Further support on…

By RJP LLP on 1 June 2020

Business Services • Business Tax • company structure • Coronavirus Advice

Recovery after COVID – Is it worth disincorporating your company?

It is becoming apparent that the COVID-19 crisis will result in many otherwise viable businesses being unable to survive. And businesses that…

By RJP LLP on 27 May 2020

Business Services • Coronavirus Advice

Rebate Scheme Launching for COVID SSP Payments

If you are a small to medium sized business and have been paying employees Statutory Sick Pay (SSP) due to coronavirus, you…

By RJP LLP on 21 May 2020

Insights

31 January 2021 - Submit your self assessment tax return and pay tax due