Tag Archives: accountants Gloucester

Buy-to-let Mortgage Interest Tax Relief Changes

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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 […]

Self Employed Income Support Scheme

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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 […]

Covid 19 – Government Support

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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 […]

Contractor Tax Changes – Archive 2017

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IR35 and the Public Sector If you are a contractor to the NHS or public sector departments you will most likely be effected by changes to IR35 legislation. The new legislation came into effect in April 2017 and shifted the responsibility for assessing IR35 status to the NHS or other public sectors. What that means […]