HLAS

The Coronavirus Job Retention Scheme ended on 30 September 2021. 14 October 2021 was the last date to make a claim for September. For claim periods from 1 November 2020, HMRC may accept late claims or amendments if you have: Taken reasonable care to try and claim on time. A reasonable excuse. Claimed as soon as your reasonable excuse no longer applies. A reasonable excuse could include: your partner or another close relative died shortly before the claim deadline you had an unexpected stay in hospital that prevented you from dealing with your claim you had a serious or life-threatening [...]

The Seafood Innovation Fund (SIF) is now accepting third call applications. The SIF programme focuses on delivering longer term, cutting-edge innovation across the seafood sector, and helping to take innovative ideas from early-stage research to commercial viability. The programme includes: primary producers onshore supply chains marine and diadromous fisheries marine and land-based aquaculture The programme excludes: freshwater fishing recreational fishing This call is open for feasibility studies only. The maximum funding available is £50,000 for projects with a duration of up to five months. Successful third call feasibility studies will be eligible to apply for larger R&D funding following completion of [...]

Allow plenty of time for posting and post items and gifts for Christmas early, particularly for International deliveries: Friday 17 December 2021  – Royal Mail Bulk Mail Economy Saturday 18 December 2021 – 2nd Class, 2nd Class Signed For, Royal Mail 48 Tuesday 21 December 2021 – 1st Class, 1st Class Signed For, Royal Mail 24, Royal Mail Tracked 48 Wednesday 22 December 2021 – Royal Mail Tracked 24 Thursday 23 December 2021 – Special Delivery Guaranteed See: Get ready for Christmas 2021 | Royal Mail Group Ltd

Before last week’s Budget we already knew that corporation tax would increase in 2023 and that there will be a 1.25% rise in National Insurance Contributions (NICs) from April 2022 paid by employers, employees, self-employed and for those with share dividend income.  Personal allowances are frozen until 2026 and we are told these rises are to are to pay for Covid-19 measures and reform of the social care system. The tax burden as a percentage of UK Gross Domestic Product (GDP) is now at its highest level since the 1950’s according to the Office for Budget Responsibility. The "scarring assumption" [...]

The UK is hosting the 26th UN Climate Change Conference of the Parties (COP26) in Glasgow until the 12 November 2021. Climate change is probably the world's most pressing problem. It is widely accepted governments must take more cuts in warming gases if we are to prevent higher global temperature rises. The summit in Glasgow is where change may happen. We need to look at the promises made by the world's larger economies and whether poorer countries get help to make changes. Decisions made at the COP26 conference will impact all of our lives in the future and most importantly, the future [...]

The prevalence of electric vehicles is increasing massively, and I felt it was time to revisit one off my favourite subjects. We have noticed clients moving towards electric vehicles, issues still remain for many, the primary one is range. Although electric range is now respectable on many cars, it may still be a burden for some high mileage drivers. Topping up a battery may seem like hard work but a Taycan can be topped up from 5-80% in 20 some minutes and 62 miles of range can be added in 5 minutes. So with a little planning and a coffee [...]

The market for successful small businesses has never been better. There is massive demand from larger businesses to add to their portfolios. Some of this driven by markets looking for good returns for their money or just plain common sense as surplus cash effectively earns nothing. I think many owners would be surprised by how valuable their business is and now would seem like a good time to test the market. Taxation of disposals is reasonably light but reforms to capital gains tax may make gains taxable at income tax rates. I always liken selling a business to selling a [...]

On 27 October 2021, the Chancellor delivered his third Budget in conjunction with the Public Spending Review. Many of the spending announcements had already been leaked to the Press prior to Budget Day and arguably a lot of it was not new money. The Chancellor did however manage to keep a few surprises back for Budget Day. Low paid workers will welcome the increases in the National Living Wage (NLW) that take effect from April 2022 and the 8% reduction in the Universal Credit income taper. However, the increase in the NLW in conjunction with the 1.25% increase in National [...]

Many were expecting big changes to capital gains tax in the Autumn Budget, particularly as the Office of Tax Simplification (OTS) had suggested that CGT rates should be aligned with income tax rates. The Government have however taken on board the OTS recommendation that the 30 day reporting and payment deadline should be increased to 60 days. This will be a welcome change for property owners and their tax agents and will affect residential property disposals that complete on or after 27 October 2021. Entrepreneurs will be relieved that CGT Business Asset Disposal Relief continues resulting in a 10% CGT [...]

The Government continue to promise a fairer system of Business Rates and will provide new reliefs for investment and improvements to business premises.  In order to support businesses and jobs in the retail, hospitality and leisure sectors, the chancellor announced a 50% discount in business rates up to £110,000. High Street businesses still operate at a significant disadvantage to online retailers who generally pay lower Business Rates, and some pay a lot less corporation tax. The Government will consult shortly on an Online Sales Tax which may help level the playing field.