Self-Employed and Sole Traders – Update

Self-Employed and Sole Traders – Update

The Self-Employment Income Support Scheme (SEISS) allowed you to claim a first taxable grant. Applications for the first grant closed on 13 July 2020. The second taxable grant is worth 70% of your average monthly trading profits, paid out in a single instalment...
VAT C-19 Deferral – New Payment Scheme

VAT C-19 Deferral – New Payment Scheme

New Payment Scheme – Opt-in Rather than paying in full at the end of March 2021, businesses will be able to choose to make 11 equal instalments over 2021/22. All businesses that took advantage of the VAT deferral can use the New Payment Scheme. Businesses will...
Advisory fuel rate for company cars

Advisory fuel rate for company cars

These are the suggested reimbursement rates for employees’ private mileage using their company car from 1 September 2020. Where there has been a change the previous rate is shown in brackets. You can continue to use the previous rates for up to 1 month from the...
Still considering an electric company car?

Still considering an electric company car?

There is currently a zero P11d benefit for the drivers of electric cars in 2020/21. The legislation for this change is included in Finance Act 2020 which also states that the benefit will be 1% of list price in 2021/22 and then 2% in 2022/23. The zero taxable benefit...