Updates from the Clayton & Brewill team.

New tax year changes: IR35, NICs and personal tax

29th May, 2020

As we moved into the new 2020/21 tax year last month, a number of changes came into force, including a rise in National Insurance contribution limits and an increase to the two income thresholds used to calculate the annual allowance. The government also announced that the proposed IR35 changes are on hold until April 2021,… View Article

Self-employed support measures: SEISS grant eligibility and how to apply

26th May, 2020

Self-employed individuals whose business has been adversely affected by coronavirus can now apply for a Self-Employment Income Support Scheme (SEISS) – a taxable grant worth 80% of your average monthly trading profits. Here, Nottingham chartered accountants Clayton & Brewill takes a closer look at who is eligible for the scheme, what support it provides, and how to make a claim…. View Article

CJRS claims deadline for May is imminent

19th May, 2020

It’s been nearly a month since the portal for making Coronavirus Job Retention Scheme (CJRS) claims for furloughed employees went live, and many businesses will no doubt be seeking to make another claim in order to receive a payment by the end of May. When you make a claim through the Coronavirus Job Retention Scheme,… View Article

Diversification and VAT: tax implications for farming businesses

12th May, 2020

Farm diversification is becoming increasingly popular as a means of generating new income, but it is important for farmers to consider the full tax implications that any new enterprise could have on their farming business. Nottingham chartered accountants Clayton & Brewill explain how diversification can affect your VAT liability. In years gone by, the vast… View Article

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