Up until the tax year 2016/2017 Landlords have been able to offset 100% of mortgage interest paid against rental income. This is being phased out and replaced by a 20% tax credit allowance. So landlords at the start of the 2020/2021 tax year will no longer qualify for relief on mortgage interest. Instead they will […]
Category Archives: blog
27
Mar
Mar
The scheme announced by the chancellor will provide grants to self-employed individuals or partnerships who are negatively impacted by COVID-19. The grants are worth 80% of profits but up to a cap of £2,500. To be eligible for the scheme you must meet all the criteria below: You must be self-employed or a member of […]
27
Mar
Mar
VAT Deferral main points HMRC Defers Valued Added Tax (VAT) payments for 3 months. All VAT-registered UK businesses are eligible. The deferral will only apply for the period from 20 March 2020 until 30 June 2020. This will mean the deferral of one quarter’s VAT due on either the 7 April, 7 May or 7 […]