The new 130% ‘super deduction’ for investment into plant and machinery could be very useful, but there are important points contained within the “small print” that require careful planning.
The following example, which has been prepared by HMRC, clearly shows the possible appeal of the new tax allowance.
A company spends £10m on qualifying assets.
[i] Under the previous system, the possible tax […]
Would you prefer to take home £36k or £47k?
£50,000 gross is a common amount for local company owners based in Scotland, especially around Glasgow and Lanarkshire.
Many take home only £36k.
ad+ clients take home £47k.
Same gross amount, but £11k more in your pocket. Which would you prefer?
OK . . . that package might not suit you – don’t worry – our Tax […]
We appreciate that business owners are short of time and want technical advice tailored to their needs, and so we invite you to get in touch to discuss how the Budget changes might affect you and your business.
In the meantime here is a brief summary of the business proposals.
1. Employers will welcome the extension Furlough for a further five months, […]
Since 1st July 2020, in most instances, you are required to report and pay tax within 30 days when you make a profit on the sale of a residential property that is not your main home.
The change has drastically reduced the previous time gap between the date of sale and the date of paying the tax. You will now be […]
Property and Wealth
Owning a property portfolio is an aim of many people. Whether the portfolio runs alongside a trading business or becomes the main focus, the appeal is to accumulate a capital asset which can produce a stream of income.
Because ad+ has so many clients who own property investments, this is a topic in which we have a special interest.
We […]
This morning, the HMRC portal opened to accept claims for grant support under the ‘Coronavirus Job Retention Scheme’ (CJRS).
ad+ has set up all the processes necessary to claim the job retention grant on behalf of our clients and any other local businesses that require help.
It is essential that all claims are accurate, valid, and supported by written evidence.
If you need […]
This fifth client bulletin concentrates on financial steps business should take now.
Before highlighting new measures, I would like to provide further update on the most important support measures announced to date:
[A] PREVIOUS ANNOUNCEMENTS
UPDATE FOLLOWING ADDITIONAL GUIDANCE
[1] Coronavirus Job Retention Scheme
The HMRC application platform is NOT ready yet: it is expected to be available by the end of April 2020.
[2] […]
This forth client bulletin concentrates on financial steps business should take now.
SELF-EMPLOYED SUPPORT ANNOUNCEMENT
Last night, Chancellor announced the “coronavirus (COVID-19) Self-employment Income Support Scheme“, which you can use if you are self-employed or a partner and you have lost income due to the impact of coronavirus.
Some of the details from the official HMRC announcement about this important new financial aid package are noted below. Please contact us […]
This third client bulletin concentrates on financial steps business should take now.
Small Business Bonus Relief (to reduce non-domestic rates)
“Small business bonus relief” is an existing scheme which reduces the amount of non-domestic rates that are paid by small businesses.
Obtaining this relief is a qualifying criteria for a new cash grant from the described next.
APPLY:-
South Lanarkshire Council: https://www.southlanarkshire.gov.uk/forms/form/311/en/small_business_bonus_relief
North Lanarkshire Council: https://www.northlanarkshire.gov.uk/index.aspx?articleid=29202
Glasgow City […]
Emergency financial help for business
This is the second in our series of bulletins through which we aim to help all our clients by sharing up-to-date official Guidance and practical tips to combat the financial impacts caused by the Cornonavirus (Covid-19).
There are five emergency financial aids that I want to highlight today.
CORONAVIRUS BUSINESS INTERRUPTION LOAN SCHEME
From today, the Coronavirus Business Interruption […]