Tax Advice and Accounting Resources

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

Business Tax • Coronavirus Advice • Personal tax

Why giving up your salary might trigger a tax bill!

The current economic situation is difficult for almost every business and many people will have had to accept a temporary reduction in…

By RJP LLP on 18 May, 2020

Business Services • Coronavirus Advice

Bounce Back Loan Scheme For The Self Employed

Although not an ideal solution, the new Bounce Back Loan Scheme (BBLS) launched by the government offers a valuable source of cash…

By RJP LLP on 13 May, 2020

Business Services • Business Tax • Coronavirus Advice • Corporate Taxation • government

Furlough Scheme Extended to End of October

Presenting to MPs this morning, Chancellor Rishi Sunak has confirmed that the current Furlough Scheme (a.k.a. Coronavirus Job Retention Scheme) will be…

By RJP LLP on 12 May, 2020

Business Services • Coronavirus Advice • Payroll Tax • Small Business

Furlough Scheme Warning – Don’t double-count employers’ NICs!

When completing your applications for the Coronavirus Job Retention Scheme you will be including the cost of the employers’ NICs for furloughed…

By RJP LLP on 11 May, 2020

Business Tax • Coronavirus Advice • government • Personal tax

Update on the Self Employment Income Support Scheme

This week, HMRC is starting to send out notifications to those who are eligible for the Self-Employment Income Support Scheme. If you…

By RJP LLP on 4 May, 2020

business finance • Business Services • Coronavirus Advice

Update on Bounce Back Loan Scheme – BBLS

Updated: 4 May 2020 In response to reports that small businesses are struggling to survive under lockdown, and that 25% of these…

By RJP LLP on 28 April, 2020

capital gains tax (cgt) • Personal Taxation • Property

Reminder: 30 days to pay investment property CGT from April 2020

Although the government is allowing many tax payments to be deferred because of Coronavirus, any the tax due on gains made as…

By RJP LLP on 24 April, 2020

Coronavirus Advice • financial advice • Services

New scams surface during the COVID-19 crisis – What should you be wary of?

Scams have been widespread online for a long time; from stolen cards being used to buy goods online, ordered goods that never…

By RJP LLP on 21 April, 2020

Business Tax • Coronavirus Advice • Personal tax • Personal Taxation

Shareholder/directors and their limited options for Coronavirus support

True to HMRC’s word, the Coronavirus furlough scheme portal went live on 20 April 2020 and in the first hour of operation…

By RJP LLP on 21 April, 2020

Business Tax • Capital Gains Tax • exit strategy • Tax Planning

Introducing the new ‘business asset disposal relief’

The COVID-19 crisis is proving all-consuming for the press and as a result, one of the important changes announced in the 2020…

By RJP LLP on 21 April, 2020

Business Services • Coronavirus Advice

Emergency Action Plan for Business Owners

The next three months will be critical for many business owners and not every business will be able to survive but it…

By RJP LLP on 21 April, 2020

Business Services • Coronavirus Advice

Resources to Help Calculate Your Furlough Grant

If you are preparing to apply for a furlough grant and need to work out the amount required, these two free resources…

By RJP LLP on 15 April, 2020

Business Services • Coronavirus Advice • Payroll Tax

Coronavirus: Preparing to use the Furlough Scheme – Payroll Information Needed

The government’s Coronavirus Job Retention Scheme (furlough scheme) portal is currently being beta tested and the site is expected to be operational…

By RJP LLP on 14 April, 2020

business finance • Coronavirus Advice • HMRC • Small Business

Furlough scheme portal launches for beta testing

Expected live date for all employers is 20 April 2020 with first payments by 30 April 2020 HMRC have announced the launch…

By RJP LLP on 9 April, 2020

Coronavirus Advice • HMRC • Small Business

Updated guidance on the Coronavirus Job Retention (Furlough) Scheme

The government has made some changes to the Coronavirus Job Retention Scheme (furlough scheme) and clarified a number of key points. A…

By RJP LLP on 8 April, 2020

Business Services • Business Tax • Coronavirus Advice • HMRC • Personal tax • Small Business • Taxation

COVID-19: The Furlough Job Retention Scheme Summarised

The Coronavirus Job Retention Scheme is designed to support employers whose operations have been severely affected by COVID-19. Principally, it is for…

By RJP LLP on 31 March, 2020

Business Tax • Coronavirus Advice • HMRC • Personal tax • Small Business • Taxation

Changes to the UK Insolvency Rules Due To COVID-19

New emergency insolvency measures have been agreed to help companies unable to meet all their debts due to the impact of coronavirus…

By RJP LLP on 31 March, 2020

Business Tax • Coronavirus Advice • HMRC • Personal tax • Taxation

How to Negotiate Time to Pay for COVID-19 With HMRC

Whilst tax due on 31 July 2020 by self-assessment taxpayers is now deferred for collection until 31 January 2021 due to coronavirus…

By RJP LLP on 31 March, 2020

Business Tax • Coronavirus Advice • HMRC • Personal tax • Taxation

Dealing with HMRC During COVID-19

The Government has been very supportive to businesses who are affected by COVID-19 and it is likely that HMRC will take a…

By RJP LLP on 31 March, 2020

Business Tax • Coronavirus Advice • HMRC • Personal tax • Small Business • Taxation

Company Directors and COVID-19

HMRC has clarified its guidance on who is eligible to defer tax payments due on 31 July. All taxpayers who are due…

By RJP LLP on 31 March, 2020

Business Tax • Coronavirus Advice • HMRC • Personal tax • Small Business

Updated: Self employed workers get equivalent 80% COVID-19 support deal

Updated 27 March with details of support package and eligibility criteria Further details are now available about the support package available for…

By RJP LLP on 26 March, 2020

Business Services • Coronavirus Advice • Corporate Taxation • governance • HMRC

COVID-19: 3 Month Extension for Filing to Companies House

Due to the disruption caused by COVID-19, businesses can now apply for a 3-month extension on filing their accounts. All companies who…

By RJP LLP on 25 March, 2020

Business Services • Coronavirus Advice • HMRC • Personal tax • Small Business

Coronavirus Business Support: Clarification on 80% payments from Government

Tax and NICs payable on salary subsidies The Coronavirus Job Retention Scheme was unveiled by the Government on 20 March offering financial…

By RJP LLP on 25 March, 2020

Business Services • Coronavirus Advice • Corporate Taxation • Personal Taxation • Services • Small Business • VAT

Latest COVID-19 Business Support Information

On 20 March 2020, the Chancellor announced additional measures to help businesses and the self-employed impacted by COVID-19. This update outlines in…

By RJP LLP on 23 March, 2020

Coronavirus Advice

Coronavirus update – business as usual

As the developments caused by coronavirus (COVID-19) continue, we would like to reassure all our clients, partners and business associates of the…

By Lesley Stalker on 20 March, 2020

Business Services • Coronavirus Advice • HMRC • Taxation

Immediate COVID-19 support for businesses to avoid a crisis

Staying healthy is the #1 concern for us all right now - both personally and professionally. These are really difficult times and…

By RJP LLP on 17 March, 2020

Business Services • Coronavirus Advice

A cash flow action plan for the Coronavirus crisis

According to recent research, 69% of UK small and medium-sized businesses (SMEs) have reported significant pressure on their cash flow as a…

By RJP LLP on 17 March, 2020

Business Services • Business Tax • Personal tax • Small Business • Tax Planning • Tax Relief • Taxation

Super spender Sunak restricts ER but unveils record giveaways in Robin Hood budget

We were expecting an announcement-packed Budget yesterday, and we certainly got it. After the government suggested that 80% of people in the…

By RJP LLP on 12 March, 2020

Business Tax • HMRC • Tax Relief

Will entrepreneurs’ relief (ER) be overhauled?

It is widely anticipated that the government intends to restrict entrepreneurs’ relief (ER) as part of an initiative to reduce the number…

By RJP LLP on 12 February, 2020

Business Services • Tax Planning • Tax Relief

7 industries ripe for R&D tax credits success

One company tax relief that is not expected to change in the 2020 Budget is R&D tax relief. Since it was started…