Briefings

Download our Taxes Made Easy Guide.

Companies have an obligation to report to HMRC certain transactions involving shares, securities and options, each tax year on an online Employment Related Securities’ (ERS) Return.

Forms P11D must be completed for all directors and all employees if they receive any benefits in kind or reimbursement of expenses which were not incurred wholly, exclusively and necessarily for business purposes.

The March 2021 Budget saw the introduction of temporary increased tax relief for expenditure on certain plant and machinery purchases made between 1 April 2021 and 31 March 2023. In order to qualify for these temporary allowances, the expenditure must be incurred after 1 April and cannot have been contracted before 3 March.

The Chancellor Rishi Sunak presented his second Budget on Wednesday 3 March 2021. In his speech he stated his Budget 'meets the moment with a three-part plan to protect the jobs and livelihoods of the British people'.

Download our Tax Tables 2021/2022.

Whilst the United Kingdom officially left the European Union (EU) on 31 January 2020, this prompted the start of an 11-month transitional period during which time the UK remains part of the Single Market, the EU Customs Union and the VAT Territory. With the transitional period due to end on 31 December 2020, it is important to prepare for the changes that will take place from 1 January 2021.

Tax Investigations are time-consuming, stressful and costly. As your accountant, we want to protect you. That's why we offer a Tax Investigation Service.

2020/21 has been, and looks like it will continue to be, a tumultuous year. Many people will end up with a very different level of income compared to past years. Previous year tax planning, in many instances, will unlikely be much use and may require a complete re-evaluation.

Late November should have seen the Chancellor announce his Autumn Budget and a Comprehensive Spending Review covering the next three financial years. Like many other plans, the uncertainty created by the pandemic has put both on hold. In their place was a ‘Financial Statement’, primarily addressing a one-year Spending Review.