Sept 2020 – Winter Economy Plan Revealed

Yesterday the Chancellor, Rishi Sunak, confirmed that the budget will not take place in November, and also came out with his Winter Economy Plan. The Chancellor and the government have a very difficult scenario to balance, with COVID-19 restrictions still being necessary, trying to move ...
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Sept 2020 – Budget Cancelled

As you will no doubt have read, the Chancellor has scrapped plans for an autumn budget. No new date has been announced. January 2021 is possible although, traditionally, March has been the month for budgets. We have previously highlighted the opportunity for considering tax and ...
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Sept 2020 – New Look Unvieled

We are delighted to announce we have a fresh new look with the re design of our logo and brand new website. We have been very busy over the lockdown period supporting and advising clients, as well as working on our marketing strategy involving a ...
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Aug 2020 – Slowness Fines

If you miss the deadline for filing your self-assessment tax return (31 January for online filing) you will be charged a £100 penalty. If the return is filed more than three months late, an additional £10 per day is charged, and after six months another ...
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July 2020 – Selling Your Business

If you are wondering whether, or when, you should sell your business, a sensible first step is to form an outline plan for its disposal. The sale of a successful trading company will generate a Capital Gain. This would normally be taxed at 20% after ...
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July 2020 – Mini Budget Summary

Rishi Sunak has promised to "protect, support and create jobs" and get pubs and restaurants "bustling again" as he unveiled a package to boost the economy’s recovery. The Chancellor announced a VAT cut, stamp duty holiday, restaurant vouchers and a suite of measures to boost ...
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Jul 2020 – How CJRS is changing from today

1 July – employees can be furloughed for flexible periods with no minimum. 1 August – CJRS will not cover the employer’s NIC or pension contributions. 1 September – CJRS will cover 70% of usual wages capped at £2,187.50 per month, but no employer’s NIC ...
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June 2020 – Business Update

There are clear changes in the position with regard to Coronavirus restrictive measures now, which will be very obvious to everyone. Retail stores have been able to open again, which has been a specific recent change of significance. In addition, though, the Government have announced ...
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June 2020 – Investing for the Future

The Government encourages individuals to make high-risk investments in small trading companies or charities by providing Income Tax relief for investors in the following schemes (limits for 2019/20):Social Investment Tax Relief (SITR): 30% relief on up to £1 millionEnterprise Investment Scheme (EIS): 30% relief on ...
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June 2020 – Planning Gains

Everyone has an annual exemption for Capital Gains Tax (CGT) of £12,000 for 2019/20. This is wasted if you don’t make Capital Gains in the tax year. You can’t carry forward any unused exemption to a different tax year or transfer the exemption to another ...
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June 2020 – Timing is Everything

The end of the accounting period for your business is a key point for tax planning. You can save or delay tax by moving income and expenditure between accounting periods. For instance, advancing the acquisition of assets to just within your current accounting period will ...
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May 2020 – Clarke Nicklin Business Update

Clarke Nicklin Business Update I hope everyone is still keeping safe and well. We had a flurry of activity in terms of governmental announcements at the start of lockdown in relation to businesses and support packages to businesses, with that having settled down for a ...
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