Work from home tax relief: what employees need to know
It was confirmed this April that employees can continue to claim tax relief on work from home costs not reimbursed by employers, but only if they make a new claim for the 2021/22 tax year.
It was confirmed this April that employees can continue to claim tax relief on work from home costs not reimbursed by employers, but only if they make a new claim for the 2021/22 tax year.
The last tax year has not long ended, but now is the time to think about how you report taxable benefits provided to your employees.
The delayed Construction Industry Scheme (CIS) VAT reverse charge will come into effect on 01 March 2021, it has been confirmed.
Due to the new trade rules that came into effect on 1 January 2021, many UK businesses, who export to the EU, have been hit by extra charges, taxes and paperwork. Some have stopped exports to the EU as a result.
HM Revenue and Customs (HMRC) has updated the Advisory Fuel Rates (AFRs) which come into effect on 1 December 2020, for company car drivers requiring fuel costs from their employer. However, you can use the previous AFRs for up to one month from the date of the new rates.
On 12 November 2020, the details of the proposed Small and Medium-sized Enterprise (SME) Cap, which is due to come into effect on 1 April 2021, was published.
According to HM Revenue and Customs (HMRC), more than £215 million of Coronavirus Job Retention Scheme (CJRS) payments have been willingly returned to the Government by UK firms, out of £35.4 billion worth of claims up until 16 August.
The Institute of Chartered Accountants in England and Wales (ICAEW) has warned businesses to get “their data right” or face delays receiving grants under the Coronavirus Job Retention Scheme (CJRS).
According to the latest figures from HM Revenue & Customs (HMRC), only a quarter of eligible businesses in the hospitality sector have signed up to the new ‘Eat out to help out scheme’.
Businesses affected by the COVID-19 pandemic are being urged to request a Companies House filing extension before the deadline.
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