News
A round up of our latest blogs, commentary or office news. Get in touch if you need more details on any of the topics covered.
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Bates Weston Autumn 2024 Newsletter
In our Autumn 2024 newsletter we look at potential changes to Inheritance Tax, Capital Gains Tax and pensions tax ahead of the Budget, alongside our regular round up of topical news.
VAT on private school fees
The Government has announced that VAT will be payable on private school fees from 1 Jan 2025. We look at the tax point for private school fees, prepayments, the timeline and the Governments plans to engage with schools.
Pay VAT deferred due to Covid19
HMRC has clarified the payment options and how to join the VAT deferral new payment scheme. The online service will be open between 23 February and 21 June 2021.
Chancellor delays repayments on Bounce Back Loans
Bounce Back Loan repayments can be delayed further as Chancellor extends Pay as You Grow options.
Business impact of Coronavirus
Latest Business Impact of Coronavirus Survey (BICS) shows short term pressures on businesses and mixed effects on turnover. CBI calls for long term national economic vision and strategy.
Kickstart changes
The government has announced changes to the Kickstart scheme, lowering the threshold from 30 placements to allow SMEs to apply direct to DWP when creating smaller numbers of job placements.
Self Assessment taxpayers will not face late filing penalty, if filed online by 28 February
No late filing penalty if self assessment tax return filed by 28 February 2021, but interest will still be charged on any outstanding liabilities. More time to file your online return and make Time To Pay arrangements.
Tax Changes Ahead?
Following Rishi Sunak’s economic statement to the House of Commons on 11 Jan 2021, Craig Simpson, tax partner at Bates Weston, looks at the tax changes that may be ahead in the Budget on 3 March 2021.
The Cashflow Cliff-Hanger
Wayne Thomas, partner at Bates Weston, looks at the cashflow pressures that are mounting for businesses.
National Lockdown new one-off top up business support grants
Following the National Lockdown announced yesterday by the PM, the Chancellor announced new one-off top up business support grants for the retail, hospitality and leisure sectors worth up to £9,000. Additionally discretionary funds are also available for other businesses impacted by the lockdown.
Furlough Scheme extended until April 2021
Chancellor extends furlough scheme until the end of April 2021 and Covid-19 business loan schemes extended until the end of March.
Writing the book on tax
Bates Weston’s tax team update and co-author Tolley’s Tax Planning for Owner Managed Businesses 2020-21.
Christmas Support Payment for wet-led pubs
Details of the Christmas Support Payment for wet-led pubs, that is those that derive less than 50% of their income from food sales.
Residual tax and the loan charge
Richard Coombs considers HMRC’s updated guidance on collecting any residual tax due as a result of the loan charge.
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