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Annual party benefits
- April 8, 2021
- Posted by: mardenco
- Category: Employee Benefits
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The cost of a staff party or other annual entertainment is generally allowed as a deduction for tax purposes. If you meet the various criteria outlined below then there is no requirement to report
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Claims to reduce payments on account
- April 8, 2021
- Posted by: mardenco
- Category: Income Tax
Self-Assessment taxpayers are usually required to pay their Income Tax liabilities in three instalments each year. The first two payments are due on 31 January during the tax year and 31 July
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Exempt beneficial loans
- April 8, 2021
- Posted by: mardenco
- Category: Employee Benefits
An employee can obtain a benefit when provided with an employment-related cheap or interest-free loan. The benefit is the difference between the interest the employee pays, if any, and the commercial
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Companies can claim super-deduction from 1 April
- April 8, 2021
- Posted by: mardenco
- Category: Corporation Tax
The new super-deduction tax break, that will allow companies to deduct 130% of the cost of any qualifying investment from their taxable profits, is available on most new plant and machinery
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National Minimum and Living Wage increases 1 April 2021
- April 8, 2021
- Posted by: mardenco
- Category: Employment & Payroll
The new National Minimum Wage (NMW) and National Living Wage (NLW) rates came into effect on 1 April 2021. The new rate for the NLW is £8.91 which is a 19p increase over last year. The NLW is the
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Archiving international trade documents
- April 8, 2021
- Posted by: mardenco
- Category: HMRC notices
There are important rules that all businesses must follow to keep business and accounting records accessible if requested by HMRC. The exact documentation that must be held and the time limits for
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Updating Self-Assessment tax returns
- April 1, 2021
- Posted by: mardenco
- Category: Income Tax
There are special rules to follow if you have submitted a Self-Assessment return and subsequently realise you need to change it. This can happen if for example you made a mistake like entering a
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Film and TV restart scheme
- April 1, 2021
- Posted by: mardenco
- Category: Business Support
The government’s £500 million scheme to kickstart film and television production entitled the Film and TV Production Restart Scheme, helps UK film and TV productions struggling to secure insurance for
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OTS recommended changes to IHT
- April 1, 2021
- Posted by: mardenco
- Category: Inheritance Tax
The Financial Secretary to the Treasury has written to the Office of Tax Simplification (OTS) to confirm that HM Treasury strongly supports some key recommendations on changes to Inheritance Tax.
The
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£1.5bn boost for rates relief
- April 1, 2021
- Posted by: mardenco
- Category: Business Support
A new Business Rates relief fund will provide a £1.5 billion tranche of support to businesses outside the retail, hospitality, and leisure sectors affected by COVID-19.
Retail, hospitality and