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 […]
Should you continue making money from construction, or become a tax expert?
If your business has CIS Gross Status, always remember that you must adhere to strict HMRC rules and deadlines, or that privilege could be removed.
It will hurt your cash-flow if you lose CIS Gross Status because it will cause an immediate drop in income received by your business.
Unfortunately, it is […]
Who would like £4,000?
It’s a “gift” from HMRC.
No there’s no catch and it’s not a trick.
Employment Allowance is a way for eligible employers to pay less Class 1 NI contributions.
When businesses appoint ad+ Chartered Accountants we often find that this allowance has not been claimed. We quickly correct that oversight, and the company is £4,000 better off.
This initiative is typical […]
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, […]
The “Job Support Scheme” has been postponed, and the “Coronavirus Job Retention Scheme” has been extended until 31st March 2021.
The extension of this furlough scheme will apply for claims between 1st November 2020 and 31st March 2021.
During the period 1st November to 31st January furloughed employees will receive 80% of their usual salary for the hours not worked. Maximum grant […]
Just a week to go until the start of next Self Employment Income Support Scheme Grant (SEISS) payments.
The first payment will be paid to those who are currently eligible for the Self Employment Income Support Scheme. They must continue trading, despite reduced sales due to the crisis.
This lump sum grant will be calculated on profits earned during 1st […]
Announced on Thursday 24th September, the new Winter Economy Plan, was announced by the Chancellor.
The package of measures applies to all regions and nations of the UK, include:-
A new Jobs Support Scheme to protect millions of returning workers.
Extending the Self Employment Income Support Scheme.
Continuing the 15% VAT cut for the hospitality and tourism sectors.
More help for […]
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 […]