It is hard to believe that one year ago the Chancellor, Rishi Sunak, was giving his first budget and there was no mention of the word ‘furlough’. A matter of hours later the country was officially in the midst of a pandemic which rendered his budget obsolete (almost). The Chancellor delivered his second budget to…
The Chancellor announced on 24 September a whole new raft of measures and support schemes for businesses and individuals during the COVID-19 crisis. Some of this is very welcomed news but some not so much. As with so many things in life we all wish that more could be done by the government (removing the…
Update on Government schemes in response to COVID-19 We are now well into the lockdown and we hope that you are keeping safe and well. Here, at Banner and Associates we are adjusting to working from home and although there are some differences to the way we service our clients. Remember if you want a…
COVID-19 Government schemes to help I have compiled this document to help people understand what schemes are available to you from the government. These are desperate, strange times that we live in. It goes without saying that your priority is for your health and the health of your family and others. Therefore, stay at home…
Budget 2020 – Key Points Newly appointed Chancellor of the Exchequer, Rishi Sunak, has just delivered his first ever Budget to the House of Commons, in fact the first Budget since October 2018 and it’s packed with implications for small businesses. We have highlighted below what would affect our clients the most. We have not…
New IR35 rules – some guidance Well the budget did not deliver for many of us and the new IR35 rules will be coming in from 6 April 2020. We have outlined some points about the new legislation below. If you have any questions, please give us a call or an email to arrange a…
The draft legislation was released on 11 July 2019 for the off-payroll working rules coming into effect for the private sector on 6 April 2020. There was nothing especially new in the legislation with the reform in the private sector mirroring those already in force in the public sector with some small tweaks. The draft…
Tax-Free Childcare Tax-Free Childcare is a government scheme available to working parents, including the self-employed, with children aged 0 to 11. Eligible parents can get up to £2,000 per child per year towards qualifying childcare. Parents can use it on a wide range of registered childcare, including: childminders nurseries breakfast clubs, after school clubs and…
With global warming and targets for reducing pollution the government is to encourage more people to use low CO2 emission or zero emission vehicles and there are a number of tax measures that incentivise that behaviour. However, those tax measures are not all perfectly aligned, as different emissions thresholds and cut-off dates apply for capital…
Another reminder to you all that there is now tax on dividend! This has been the case since 6 April 2016. The tax-free dividend allowance is £2,000 from the 2018/19 tax year and beyond. What I have done is gone through some examples below of how much dividend you can take while remaining in the…