Latest News
Updates from the Clayton & Brewill team.
Making Tax Digital: where are we now?
HMRC’s flagship Making Tax Digital (MTD) programme has seen many stops and starts over the years; it can be difficult keeping up with the continuing updates and changes. In our latest article, Nottingham chartered accountants Clayton & Brewill shares a snapshot of the latest developments. VAT The initial easement, meaning full digital links did not… View Article
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
Furnished holiday lettings: how to preserve your FHL status?
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
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