To help with tax planning for the 2021/22 tax year we have put together a list of tax-saving tips and reminders about what allowances are available both for business and individuals. With the Chancellor looking to raid businesses to pay for the Covid-19 business support and furlough schemes there has never been a better time […]
Category Archives: Tax & Budget
14
Feb
Feb
THE CONSTRUCTION INDUSTRY SCHEME (CIS) VAT REVERSE CHARGE SCHEME The CIS VAT domestic reverse charge measure will apply to supplies of construction work from 1 March 2021. The measure was due to commence in October 2019 but has been delayed due to the pandemic. This new scheme has been brought in by HMRC to tackle […]
12
Jan
Jan
You may be able to claim tax relief for additional household costs if you have to work at home on a regular basis, either for all or part of the week. This includes if you have to work from home because of coronavirus (COVID-19). You cannot claim tax relief if you choose to work from […]
26
Dec
Dec
Virtual Christmas parties will qualify for tax exemption. Still plenty of time to hold that party now or in the new-year. HMRC are allowing zoom parties with the same £150/person allowance. You will not have to report anything to HM Revenue and Customs (HMRC) or pay tax and National Insurance for zoom Christmas parties or […]
22
Oct
Oct
We at Tax Compute do not condone aggressive tax avoidance but having said that we do recognise that individuals and businesses want to pay less tax. So we all need to take advantage of the tax saving measures that HMRC accept and sometimes encourage as part of the tax regime. So below are a few […]