May 2020 – Innovate to Accumulate

Companies that invent new production methods or products can claim enhanced tax relief for the Research and Development (R&D) costs. Small and medium-sized companies can claim 230% of qualifying R&D costs, and a 14.5% payable tax credit if this extra deduction results in a loss!This ...
Find out more

Apr 2020 – Gov-backed Loans for Small Businesses

New 100% government backed loans for small businesses Businesses will be able to borrow between £2,000 and £50,000 and access the cash within days. Loans will be interest free for the first 12 months, and businesses can apply online through a short and simple form.Small ...
Find out more

Apr 2020 – Business Update – CJRS/CBILS

I hope everyone is keeping safe and well. We are working hard at Clarke Nicklin to help all our clients with a wide variety of matters linked to the Pandemic and lockdown. The Coronavirus Job Retention Scheme and the Coronavirus Business Interruption Loan Scheme are ...
Find out more

Apr 2020 – Job Retention Scheme Update – 14th

We are in the process of preparing for the required filings for Job Retention Scheme claims to HMRC and ensuring we are in a position to assist you with this. In addition, even if the Job Retention Scheme isn’t relevant for you, this is useful ...
Find out more

Apr 2020 – Business Update – 09th

I hope you are all keeping safe and well. We are all awaiting a Government update on the view of the position regarding lock down, although I am sure the vast majority of you are the same as me in thinking we wont see the ...
Find out more

Apr 2020 – Business Update for Payroll Clients

Update for Our Payroll Clients We are conscious that from the many queries received by our Partners, Managers and payroll staff, understandably the Job Retention Scheme has become a key factor for many of our clients in implementing measures to deal with the very significant ...
Find out more

Apr 2020 – Business Update – Job Retention Scheme

Job Retention Scheme – Some Practical Points Hopefully you have all received the previous updates sent out on the Job Retention Scheme when information on the scheme was published or being updated, or to provide some clarification when appropriate. We seem to be in a ...
Find out more

Apr 2020 – Prepare for off-payroll working

If you provide your personal services through your own company to large or medium-sized organisations, the way you are taxed may change for payments from 6 April 2020, due to the off-payroll working rules.Where your final customer is not small (it is large or medium-sized), ...
Find out more

Apr 2020 – ‘Making good’ benefits

Where an individual receives a benefit from their employer they can avoid being taxed on it if they ‘make good’ the value of benefit by reimbursing the employer. There are strict time limits for doing this.All reimbursements of taxable nonpayrolled benefits for 2019/20 must be ...
Find out more

Apr 2020 – ISA nice idea

You can save for retirement in a number of ways. The traditional route is via a pension scheme, but you could also use an ISA.Savers aged under 40 can open a Lifetime ISA and contribute up to £4,000 per year, which attracts a 25% bonus ...
Find out more

Apr 2020 – Max out your state pension

Individuals who reach State Pension Age (SPA) on or after 6 April 2016 need to have accrued 35 complete years of National Insurance Contributions (NIC) to receive the full state pension. To receive any UK state retirement pension, you need at least ten complete NIC ...
Find out more

Mar 2020 – Business Update – 31st

There have been no updates of any note issued by the Government which would affect clients over the last few days. We have heard, however, that whilst not officially announced, HMRC have apparently indicated that, Company Directors can be furloughed even though they may still ...
Find out more