Author Archives: Steve Brown
SEISS Round 4
If you are self-employed, HMRC should be contacting you about round 4 of the Self-Employment Income Support Scheme (SEISS). This covers the period from 1 February to 30 April 2021.…
Filing your tax return early
We have now reached the start of a new tax year, one unlike any other. Whilst taxpayers have until 31st January 2022 to file their 2020/21 tax return, there may…
Change to Tax Return “Deadline”
By the time you are reading this, the 31st January 2021 deadline for filing 2019/20 personal tax returns will have passed. In any normal year, this would mean that anyone…
Tier 2 restrictions and Covid support
RestrictionsWith the second lockdown ended, the entirety of East Sussex is being placed in Tier 2 restrictions. This means that, despite Hastings itself having relatively low rates of infection, it…
Dual Job Support Schemes
Due to government announcements on 31st October, these schemes have been deferred and the furlough scheme will continue for now. The Chancellor had previously announced the Job Support Scheme that…
Eveleigh & Read
Based in Hastings Town Hall, Eveleigh & Read are a local bespoke tailor. The business is run by Paul Read, who has retained the full name despite his original business…
Redundancy Payments
The two Job Support Schemes are intended to help employers keep paying their employees, albeit likely reduced amounts. However, it is inevitable that some businesses will be so badly hit…
Chancellor’s Winter Economy Plan
Chancellor Rishi Sunak decided to abandon his planned Autumn Budget Statement. Instead, he announced several new support schemes to help the economy through the expected second ; PICTURE: SrikanthPeetha/nsplash Job…
New Kickstart Scheme
Barring any new announcements, the furlough scheme to support employers through lockdown will finish at the end of October. In the interim the Chancellor has announced two new schemes to…
Tax Questions & Answers
I am an employee, but I pay my own professional subscriptions. Is there any way of claiming these costs back and reducing my tax bill? Whilst most tax matters for…
The Prince Albert
In early 2019, Hastings-born Matt and his wife Trisala Tassell-Dawson were looking for a new challenge. But then, travelling down Queens Road one day, he spotted the ‘for sale’ sign…
‘Eat Out to Help Out’ Now Live
As the lockdown starts to ease and businesses are opening up again, some businesses are finding it harder to bounce back than others. One of the hardest hit business sectors…
New Economic Recovery Schemes
On Wednesday 8 July, chancellor Rishi Sunak announced several schemes intended to help the UK economy recover as we come out of lockdown. Whlst we are still awaiting details on…
Important Summer Dates
VATOne of the early coronavirus support schemes was an automatic deferment of VAT liabilities. This covered payments falling due in the period 1 April to 30 June 2020. VAT is…
New Discretionary Grant Fund Open For Applications
Hastings Borough Council has finalised its discretionary business grant scheme, and applications are now open. The government announced on Friday 1st May 2020 that they would be making additional money…
Southern Business Region Essential to Post-Covid Recovery
Businesses across the South of England have called on the government to support their growth economies as part of the UK’s drive to recover from Covid-19. Six of the country’s…
My Home Working Experience
In many ways I am in a fortunate position during this current crisis. While many have been unable to work and seen severely reduced income, I have been able to…
Updates on the Job Retention and Self-Employed Scheme
Whilst some lockdown restrictions are now being lifted, the government business support schemes are still continuing. Two of these schemes have seen some major changes in recent government announcements. The…
Coronavirus Scam Schemes
At difficult times like this, it is more important than ever that we all work together to get through the current crisis. Unfortunately there are some people who see such…
Government Coronavirus Support Schemes
As the coronavirus pandemic sweeps the globe, the UK, like many countries, has put a lockdown in place. Whilst the retail, hospitality and leisure sections have been hardest hit by…
End Of Tax Year Planning
The end of the tax year, falling on 5 April 2020, is almost upon us again. Whilst there are still only a couple of weeks left, there may still be…
National Living Wage Changes
From 1 April 2020 the National Living Wage and National Minimum Wage rates will be increasing. The increases in the different age categories range from to These are the minimum…
Change To Tax Reporting On Property Sales
When you make a gain from selling any major asset, this may result in a tax bill. Each individual has an annual exempt amount for gains, currently £12,000, which is…
Reducing Payments On Account
If the tax due from your 2018/19 tax return was more than £1,000 then HMRC will be expecting you to make payments on account for the following year. On the…
Amending Tax Returns
Despite the deadline being ten months after the end of the tax year, nearly one million people failed to file their tax returns on time. Those people will now be…
HMRC Collection Powers
Filing your tax return is only half of the story. The majority of people filing tax returns will also have a tax liability to pay as well. Not all of…
Parental Bereavement Leave
The death of a child is always a traumatic event. To help parents through this difficult time, a new form of statutory leave, Parental Bereavement Leave (PBL), is planned to…
10 Years Of Strange Excuses
As this issue of HIP hits the streets, the tax return deadline for another year will be upon us. As with every year, many people will have scrambled to get…
Tax Return Filing And Payment
The online filing deadline for 2018/19 self-assessment tax returns is fast approaching. Those who file their tax returns digitally have until 31 January 2020 to get their return in. In…
HMRC Tax App Released
HMRC have released an app, available on iOS and Android, for taxpayers. This app includes a news feed from HMRC and a calculator to allow employees to check their expected…
Tax Question & Answer
I have been having a clear out recently. I have sold some of the things I am getting rid of through boot sales. Do I have to declare the income…
Christmas Tax Planning
With Christmas just over a month away, no doubt many of you are already making plans. Given how expensive this time of year can be, incorporating a bit of tax…
PrizeSaver Account Launched
Savers could now win up to £5,000 a month from a a new account with credit unions that was launched on the 17 October, International Credit Union Day. The Treasury…
Tax Questions and Answers
I am VAT registered and account for VAT on my sales when I raise an invoice. I have just found out one of my customers is going out of business…
Grants For Importers And Exporters
With the threat of Brexit looming ever closer, UK businesses that trade with the EU are likely to see major changes in the near future. One such change is that…
Furnished Holiday Lets
The taxation of residential property letting has seen some changes in recent years. The most significant is the change in tax relief on interest payments. These were once just a…
Companies House Encourages Young Entrepreneurs
Entrepreneurs are defined as people who, by setting up a business, take on financial risks in the hope of making a profit. Often seen as people having to innovate by…
Tax Questions and Answers
A new employee has told me that they have a student loan. What do I need to do about this? Student loans provided through the Student Loan company are collected…
Missed MTD Registration
If you are a VAT-registered business with annual income above the registration threshold (currently £85,000) then you should now be submitting VAT returns through Making Tax Digital (MTD). This requires…
Inheritance Tax Exemptions
It is said there are two certain things in life: death and taxes. Inheritance tax (IHT) combines both of these, being a tax paid on estates over the nil rate…