Posts by Mark

NEW “FURLOUGH” SYSTEM FOR EMPLOYEE WAGES UP AND RUNNING The Coronavirus Job Retention Scheme (CJRS) claims portal opened on Monday 20 April and early indications are that it seems to be working smoothly but with a few teething problems as you would expect from a brand-new system. In the run up to the start of […]

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The current COVID-19 crisis has many businesses globally mandating employees to work from home due to Government requirements. This could be a major adjustment if you are a company who is new to working remotely. You and your employees may have been unprepared to turn living spaces into workspaces for the foreseeable future. The daily […]

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£330 BILLION CORONAVIRUS SUPPORT PACKAGE On Friday 20th March the Chancellor, Rishi Sunak, set out a package of measures to support public services, people and business through the disruption caused by the COVID-19 virus.  Further measures were announced on 26 March to support the self-employed. CORONAVIRUS JOB RETENTION SCHEME HMRC will reimburse 80% of ‘furloughed’ […]

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Business support for SMEs during COVID-19 The UK’s Prime Minister, Boris Johnson, has ordered households and non-essential businesses across the country into lockdown due to the COVID-19 coronavirus pandemic causing a national state of emergency. The economy is experiencing a steep decline in trade as all non-essential businesses have been ordered to temporarily “shut shop” […]

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YET ANOTHER CHANCELLOR – BIG CHANGES IN THE BUDGET? It will be nearly 18 months since the last Budget and in the meantime we will have had three different chancellors following the unexpected resignation of Sajid Javid. The early years of a new Parliament are a good time to make radical changes and many are […]

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In just over a month’s time, changes to IR35 tax rules for contractors will occur. However, many contractors are still confused as to what the IR35 changes will mean for their business and what is required prior to the implementation date of 6th April. From 6th April, if you work as a contractor and your […]

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Are you the director of your Limited Company? If so, then you must pay employers’ as well as employees’ National Insurance Contributions on salaries that your company pays out (which are above the NI threshold).  National Insurance Contributions are only payable on salaries, not dividends, so there are significant tax benefits to company directors taking […]

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ELECTION TAX PROPOSALS – MORE MONEY FOR NHS? The various political parties have all made bold promises in the run up to the General Election about increased spending if elected, particularly extra money for the NHS. Although many of the spending pledges will be funded out of increased borrowing, the parties have assumed that they […]

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How to pay yourself as an employee of your limited company Through your Limited Company, in most cases, you will pay yourself via a combination of salary, dividends and perhaps through contributing to a pension too. The most important thing to keep in mind when paying yourself is to plan for tax well in advance, […]

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WHEN WILL BUDGET DAY BE NOW? It was announced on 14 October that Sajid Javed’s first budget would be on 6 November but with a general election in December when will it be now? The current political uncertainty makes it difficult to give clear tax advice as a number of key proposals in the draft […]

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