Category Archives: Uncategorised

Chancellor Eyes Capital Gains Tax Overhaul

The chancellor announced on the 14th July that he has commissioned a review of Capital Gains Tax (CGT) in relation to individuals and smaller businesses, asking the Office of Tax Simplification to consider the overall scope of the tax and the rates which apply. What will the Treasury’s tax gurus investigate? The Chancellor has asked […]

Multi-purpose vehicles with crew cabs are cars – What does this means for employers and employees

The Court of Appeal has ruled that three types of modified crew-cab vehicles are cars rather than vans for tax benefit purposes –  with potentially thousands of these multi-purpose vehicles used by employees in the UK, the case has potentially significant – and expensive – consequences for employers and employees alike. Coca-Cola provided employees with […]

COVID-19: Support for businesses paying tax

All businesses and self-employed people in financial distress, and with outstanding tax liabilities, may be eligible to receive support with their tax affairs through HMRC’s Time To Pay service. These arrangements are agreed on a case-by-case basis and are tailored to individual circumstances and liabilities. If you are concerned about being able to pay your […]

COVID-19: Three-month mortgage payment holidays are available for those who are struggling

On Tuesday 17 March, banks agreed with the Chancellor that they will offer ‘forbearance’ (tolerance and help) on mortgages. This means they all should offer those struggling a three-month ‘holiday’, allowing customers a temporary break from having to make mortgage payments during this time. While we await final confirmation of the details it should be […]

COVID-19: Insurance

Businesses that have cover for both pandemics and government-ordered closure should be covered, as the government and insurance industry confirmed on 17 March 2020 that advice to avoid pubs, theatres etc is sufficient to make a claim. Insurance policies differ significantly, so businesses are encouraged to check the terms and conditions of their specific policy […]

COVID-19: Support for businesses through the Coronavirus Business Interruption Loan Scheme

Second lockdown update 03/11/20: The loan schemes have been extended to 31st January 2021 – read full update here. A new temporary Coronavirus Business Interruption Loan Scheme, delivered by the British Business Bank, will launch next week to support businesses to access bank lending and overdrafts. The government will provide lenders with a guarantee of […]

COVID-19: Support for businesses who are paying sick pay to employees

We will bring forward legislation to allow small- and medium-sized businesses and employers to reclaim Statutory Sick Pay (SSP) paid for sickness absence due to COVID-19. The eligibility criteria for the scheme will be as follows: • this refund will cover up to 2 weeks’ SSP per eligible employee who has been off work because of COVID-19• employers with […]

Spring Budget 11 March 2020

In the face of Brexit uncertainties and the recent Coronavirus outbreak the new Chancellor, Rishi Sunak, was faced with falling economic indicators, the need to boost NHS services and was consequently limited in his options to spend on plans to improve business confidence and fund infrastructure projects. Interestingly, there were a number of measures that […]