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Could you be overpaying on CIS?

April 2021

Construction Industry Scheme (CIS) - Tax Advice

If you work for a contractor in the construction industry as a self-employed individual, under the CIS, the contractor is obliged to withhold tax on its payments to you. Under the Construction Industry Scheme (CIS), contractors deduct money from a subcontractor’s payments and pass it to HMRC. Registered CIS workers receive their payments net of […]

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Seafarers’ Tax Deduction: Specialist Tax Advice

March 2021

Seafarers Tax Deduction: Tax Advice at Aston Shaw

If you’re an employee who works at sea, and you are a UK or EEA tax resident, you may be eligible for Seafarers’ Earnings Deductions. This means you can claim a 100% tax relief on your earnings. Eligibility You may qualify for Seafarer’s Earnings Deduction as a seafarer if: All of your duties are performed […]

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Budget 2021: Key Points

March 2021

Budget Day 2021 summary

As many of us look forward to a potential end to COVID-19 restrictions, today’s 2021 budget announcement has been anxiously awaited by individuals and businesses alike. In this article, we outline the Government’s key tax and spending plans for the year ahead, providing insight (where possible), on how these announcements are likely to affect you. Coronavirus The Furlough Scheme has been extended until the end […]

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Self-assessment tax return 2021: why submit early?

December 2020

Self-assessment tax return 2021

31st January 2021 is the deadline. HMRC are encouraging those who are submitting their self-assessment tax return to beat the January rush and to complete them as soon as possible. After all, if you submit early, you can’t be late – and late submissions mean substantial fines. It is now less than 2 weeks until […]

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Being Cybercrime Savvy: a 2020 Essential

November 2020

cyber security

Cybercrime is rife this year. The BBC have reported that investment scams have quadrupled since virus lockdown. Your financial security is our priority, so we’ve put together some information that can help you identify suspicious activity in the digital world. The Investment Association (IA) have discovered that scammers have been promoting fake products on sham […]

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Capital Gains Tax May Double for Second Home Owners

November 2020

Capital Gains Tax

The new government review, commissioned by Rishi Sunak, has suggested that the amount of tax levied on capital gains should be raised by billions of pounds. This will principally affect those who own second homes (including landlords) or assets not shielded from tax. The review was launched by Mr Sunak as part of his strategy […]

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Could a Capital Allowance Tax Relief Claim Help to Ease Your Cash Flow?

July 2020

photo-of-people-working-on-wooden-table

Finding ways to ensure that your business maintains cash flow despite the recent interruptions is going to be an important task for many businesses over the coming months. With many businesses still unsure of when they will be able to re-open, and others only just taking tentative steps in this new world, ensuring that you […]

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Summer Statement: Key Points

July 2020

Photo of Rishi Sunak - Summer Statement

Chancellor Rishi Sunak has delivered a summer statement, outlining his plans to help the economy recover from the damage done by COVID-19. In this blog post, our Tax Specialist, Chris Lock summarises all the key points and explains how they might affect your business and personal finances.  Jobs and Wages  The chancellor has announced various schemes to incentivise employers to bring furloughed […]

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Am I Eligible to Claim for R&D Tax Credits?

April 2020

action-plan-brainstorming-r&d

Research and Development tax credits, commonly referred to as simply ‘R&D’ is a government incentive designed to drive forward innovation across multiple industries. This is an opportunity for you to reduce your corporation tax bill or receive a refund from HMRC based on the working hours your business dedicates to R&D. The criteria can include […]

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30-Day Reporting of CGT on Disposals of UK Residential Properties

April 2020

House in Countryside

From 6th April 2020, any capital gains tax (CGT) due on the disposal of a UK residential property must be reported and paid within 30 days. Anyone selling UK residential property needs to be aware of these changes. Previously, the disposal of any kind of property (residential or not) was reported on the annual self-assessment […]

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