Working from home tax relief: new claim needed

8th September, 2021

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

Furnished holiday lettings: how to preserve your FHL status?

2nd July, 2021

Furnished holiday lettings (FHLs) have their own tax treatment, reliant on a set of strict day-count rules. With the impact of Covid-19 on occupancy, business owners may need to take stock of their position, as Nottingham chartered accountants, Clayton & Brewill, explains. There are special tax rules for rental income from properties that qualify as… View Article

Biggest tax cut ever? The new super deduction explained

23rd June, 2021

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

IR35 in the private sector: will you be affected by the new change?

3rd April, 2021

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

Essential employer update 2021

2nd March, 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

VAT domestic reverse charge: your questions answered

11th February, 2021

Having been delayed to March 2021 as a result of the pandemic, the introduction of the VAT domestic reverse charge change for construction is now upon us. In this article, Nottingham chartered accountants Clayton & Brewill provides answers to the most frequently asked questions around the reverse change and highlights how you can prepare your… View Article

Business diversification: implications for tax

16th December, 2020

Responding to the challenges posed by COVID-19, many organisations have changed their core business in order to adapt to ever-changing lockdown restrictions. But whether you’re a florist making face masks or a farm shop starting home deliveries, it’s important to consider the tax implications that business diversification could have, as Nottingham chartered accountants Clayton &… View Article

IR35 changes fast approaching

18th November, 2020

The overhaul to the IR35 rules, postponed because of Covid-19, is fast approaching. For most off-payroll workers, it adds up to a big change to procedure from 6 April 2021. In this article, Nottingham chartered accountants Clayton & Brewill explains why the change is all about tax and employment status, and who makes the decision… View Article

The benefits of tax investigations protection

19th August, 2020

The cost of defending yourself against a HMRC investigation is potentially huge; even when the outcome of the enquiry results in no adjustments to your tax position, defence fees can be just as costly. It is therefore a more important time than ever to having tax investigations insurance in place, as Clayton & Brewill explains…. View Article

Making Tax Digital extended to SMEs

7th August, 2020

The government has confirmed that all VAT registered businesses will have to comply with Making Tax Digital (MTD) from 1 April 2022, with MTD for income tax delayed until 6 April 2023. Here, Nottingham chartered accountants Clayton & Brewill provides an update on the recent extensions. Businesses below the threshold In line with the government’s… View Article

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