Dhillon Accountants Limited

  Tel:01922 746335 | Email:info@adhillon.co.uk


News

Venues required to record contact details

23/09/2020

It has become a requirement for premises and venues across England to have a system in place to record contact details of their customers, visitors and staff. This move is intended to help trace people should a venue be linked to a coronavirus

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Changes to duty free shopping

23/09/2020

The government has published the new rules for duty free and tax free shopping that will come into effect from 1 January 2021. The changes are wide ranging. For anyone who smokes or drinks there will be no duty charged on alcohol or tobacco products

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Claiming tax relief for work related expenses

23/09/2020

Employees who need to buy equipment to use as part of their employment may be able to claim tax relief based on the cost of the equipment acquired. In most cases you can claim tax relief on the full cost of this type of equipment as it usually

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Removing your home address from the public register

23/09/2020

Company directors and other eligible people such as company secretaries, people with significant control (PSC) and LLP members can apply to remove their personal addresses from the UK’s official company register on Companies House. Company

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Companies in partnership

23/09/2020

A Partnership is a relatively simple way for two or more legal persons to set up and run a business together with a view to profit. Partnerships can take many forms. Legal persons other than individuals can also be partners in a partnership. For

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Definition of a potentially exempt transfer

23/09/2020

The majority of gifts made during a person's life are not subject to tax at the time of the gift. These lifetime transfers are known as 'potentially exempt transfers' or 'PETs'. These gifts or transfers achieve their potential of becoming exempt from

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When the cash basis is not available to a property business

23/09/2020

The cash basis scheme helps landlords, sole traders and other unincorporated businesses to benefit from a simpler way of managing their financial affairs. The scheme is not open to limited companies and limited liability partnerships. The entry

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Furlough Scheme changes September 2020

16/09/2020

As our readers will no doubt be aware, the Coronavirus Job Retention Scheme (CJRS) is closing on 31 October 2020. The scheme moved to a more flexible working arrangement from 1 July 2020 to allow employees to resume part-time working and to begin to

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Companies with a 31 December year end

16/09/2020

For companies with taxable profits of up to £1.5 million the payment of any Corporation Tax is due 9 months and 1 day after the end of your accounting period. The accounting period is usually the financial year of your business but can be different

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Working from home tax claim

16/09/2020

If you do not receive compensation from your employer you can still claim tax relief for some expenses that result from home working. HMRC will usually allow you to claim tax relief if you use your own money for things that you must buy for your job

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Video-witnessed wills

16/09/2020

The Ministry of Justice (MoJ) has confirmed that video witnessed wills in England and Wales will be made legal during the coronavirus pandemic. The change in law to introduce this measure is due to come into force later this month - the reforms will

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VAT on compensation payments

16/09/2020

HMRC has published a new Revenue and Customs Brief on the VAT treatment of early termination fees and similar compensation payments following recent judgments of the Court of Justice of the European Union (CJEU). HMRC has said that this will impact

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Relief for self-employed trading losses

16/09/2020

There are a number of tax reliefs available for self-employed taxpayers that make a loss carrying on their trade, profession or vocation (collectively referred to as a ‘trade’) and for their share of trading loss for any partnerships they are

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Carry Corporation Tax losses back

16/09/2020

Corporation Tax relief may be available where your company or organisation makes a trading loss. The loss may be used to claim relief from Corporation Tax by offsetting the loss against other gains or profits of the business in the same accounting

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The private pensions’ annual allowance

16/09/2020

The annual allowance for tax relief on pensions has been fixed at £40,000 since 6 April 2014. The annual allowance is further reduced for high earners. Since 6 April 2020, the tapered annual allowance increased from £150,000 to £240,000. This means

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Green Homes Grants

14/09/2020

A reminder that home owners and landlords can now access funding to help pay for the cost of energy saving improvements. In a recent press release the Department for Business, Energy & Industrial Strategy said: Homeowners and landlords can,

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Cars – it’s all online

13/09/2020

If you have access to the internet there are a bewildering number of online resources that you can access to help you manage recurring tasks. This week we have listed a number of these with links to the relevant website pages. Book a theory test -

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New grants for businesses affected by local lockdowns

09/09/2020

New grant support was announced 9 September that offers businesses in areas subject to a local lockdown a measure of financial support. In a news story posted to the GOV.UK website HM Treasury said: Businesses in England required to close due to

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61-63 Alexandra Road
Walsall
WS1 4DX
 
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01922 746335

 

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