Tax investigations protection: could you be next for a HMRC enquiry?
HMRC enquiries are becoming better targeted and are being undertaken with an unprecedented level of details and persistence. In 2019/20, the total tax revenue increased by £8.8bn to £636.7bn, with compliance activity alone yielding £36.9bn – an 8.2% increase in additional tax when compared with 2018/19. Here, Clayton & Brewill explains why tax investigations protection… View Article
Working from home tax relief: new claim needed
During the pandemic, employees required to work from home have been able to claim tax relief for additional costs, if these are not reimbursed by their employer. Tax relief for the 5 April 2022 tax year is also available, and employers may like to bring this to the attention of relevant members of staff so… View Article
Summer update 2021: Recovery Loan Scheme, furnished holiday lettings and the new super deduction
The Clayton & Brewill Summer update 2021 is now available to view online. We’ve had a busy few months since our last update, but the Clayton & Brewill team remains committed to helping all of our clients to navigate through these testing times. Our Summer update contains advice and articles for both business owners and individuals,… View Article
Recovery Loan Scheme now up and running
Earlier this year, the government announced the Recovery Loan Scheme – a successor loan scheme to support UK business recovery. With earlier Covid-19 loans, like the Bounce Back Loan, closed to applications since 31 March 2021, this new scheme could serve as a valuable lifeline for eligible businesses, as Clayton & Brewill explains. What is… View Article
Biggest tax cut ever? The new super deduction explained
Described by the Chancellor as ‘bold and unprecedented’, the new 130% super deduction for expenditure on new qualifying plant and machinery was a key takeaway from the Budget earlier this year. But what are the terms and conditions? How does it sit alongside the usual rules on capital allowances? And is it the giveaway it’s… View Article
Update: SEISS and furlough scheme changes
Ongoing changes to the Coronavirus Job Retention Scheme (‘furlough’ scheme) and Self-employment Income Support Scheme (SEISS) creates the potential for inadvertent errors. In this article, Nottingham chartered accountants, Clayton & Brewill, outlines the recent changes, and explains why it is important claims can stand up to HMRC scrutiny. SEISS grants There are two further self… View Article
Spring update: IR35 changes, VAT domestic reverse charge and an update for employers
The Clayton & Brewill Spring update is now available to view online. As the country starts to reopen back up again, the Clayton & Brewill team remains committed to helping all of our clients to navigate through these testing times. Our Spring update contains advice and articles for both business owners and individuals, including: An overview… View Article
IR35 in the private sector: will you be affected by the new change?
Off-payroll working rules, known as IR35, are about to change in the private sector. From 6 April 2021, all public authorities and medium and large-sized clients will be responsible for deciding the employment status of workers (sometimes known as contractors). With the start date just around the corner, Nottingham chartered accountants Clayton & Brewill provides… View Article
Budget 2021: support measures, recovery plans and looking to the future
On 3 March 2021, the Chancellor, Rishi Sunak, delivered the Budget 2021. In this round-up, Nottingham chartered accountants Clayton & Brewill provides a summary of the key Budget 2021 announcements, including the ongoing business and personal support measures and the government’s recovery plan. As always, please do contact us if you would like to discuss in… View Article
Essential employer update 2021
From minimum wage rates rising to recruitment post-Brexit, 2021 brings a number of new challenges for employers. Here, Nottingham chartered accountants, Clayton & Brewill, shares an essential employer update on the latest issues in payroll, tax and employment law in 2021. Minimum wage: easy mistakes to make this year 1. Minimum wage rates rise from… View Article