Our Financial News Blog
Welcome to our financial news blog, here we regularly post news and updates from Stuart Hoare and the financial sector in general. Please subscribe to our newsletter to receive a regular quarterly update.
Latest News...
Offices to Let
We have an office available for rent within in our building, separate access. Rents fully inclusive of light & heat and business rates, no services charges Wi-Fi / internet access provided Fully alarmed offices for intruder and fire - Has use of shared kitchen for...
MONEY BACK FOR WORKING FROM HOME
If an employer has asked an employee to work from their own home, it can pay a tax-free allowance of £6 per week to compensate for any additional costs incurred. These costs may include additional electricity, gas or water consumed while at home in working hours. If...
Corporation Tax Complexity
The Chancellor announced that taxes would have to rise, but not quite yet, as all tax rates except for VAT are frozen for 2021-22. Large companies will then see their corporation tax rate rise from 19% to 25% from 1 April 2023.Companies making no more than £50,000...
Working at Home Expenses
Many workplaces are currently closed and employees are working at home where possible to prevent the spread of COVID-19. This comes with advantages, not least avoiding the daily commute, but may also create costs for the employee such as additional power and water...
Grants from Local Authorities
To help businesses struggling due to the COVID-19 lockdown, local authorities have been distributing grants of £25,000 or £10,000 to certain businesses which pay business rates on properties with a rateable value of less than £51,000. In addition businesses which...
Help with Statutory Sick Pay
If you have paid statutory sick pay (SSP) to employees who were unable to work because they had COVID-19 symptoms, or they self-isolated because someone in their household had such symptoms, you may be eligible to reclaim that SSP. In order to reclaim the SSP, all of...
Self-Employed Grants
If you are self-employed and your business has been adversely affected by COVID-19 you may be eligible to claim a grant from HMRC of up to £7,500. To qualify for this self-employed income support scheme (SEISS) you must meet all of these conditions:you traded in...
Gains from Off-Plan Homes
If you bought your home brand new and 'off-plan' you may realise a significant capital gain when you sell that property. This is not a problem if you occupied the property as your main home for your entire period of ownership. In that case principal private residence...
Car Benefit Confusion
From 6 April 2020 the calculation of company car taxable benefits will be changed to favour electric and hybrid vehicles. This is good news for some company car drivers. However, due to a switch in the methods used for measuring vehicles' CO2 emissions, there will be...
Offshore Investment Funds
HMRC are writing to taxpayers where there is information to suggest those individuals have invested in an offshore collective investment fund. If you hold any amounts in offshore investment funds, however small, you may have to declare the income or gains received on...
MTD Digital Links
Making tax digital (MTD) for VAT requires you to do two things: record data concerning your sales and purchases digitally; andtransfer that data via digital links to the MTD-enabled software which is used to submit the VAT return. Many business systems contain pinch...
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Stuart Hoare Chartered Accountants
87 London Road, Cowplain,
Waterlooville, Hampshire, PO8 8XB