I hope you have all enjoyed the summer bank holiday weekend, even though it has felt very much like autumn for most of it!   I have a few updates for you.....   The Coca-Cola case – Van v Car You may recall last year’s court case between, Coca-Cola and HMRC which was centred around when is a van a van for income tax and NI purposes. The court ruled in favour of HMRC. It’s an interesting case and I have attached a case study below for you to see for yourself. If you have any questions regarding vehicles and their tax implications get in touch for some advice on the matter.   The Kickstart Scheme     I have had numerous queries regarding the Kickstart Scheme. The Government promised more detail on the Scheme in August. We are fast approaching the end of this month and as of yet the detail is not fully there. I will share with you what I do know (see below) although I expect there to be further information soon.   A CGT Property update H...

 I hope you had a good weekend and have managed to avoid the downpours!  I would like to share with you, information I have on a grant scheme that you may be entitled to. This is currently available in England only. The details are as follows: There is a new £20 million Grant Scheme which could allow businesses to access grants of between £1,000 to £5,000 to meet certain professional fees (e.g. accountancy fees) or to buy certain equipment. If you want to apply for the grant you should start doing so now. My understanding of this grant offering is as follows: It was originally announced on 30th July and is only available in the England regions of the UK. The grant is being supported by the England European Regional Development Fund. Businesses can apply for funds through one of 38 local growth hubs in their Local Enterprise Partnership (LEP) area. These hubs are partnered with the likes of Chambers of Commerce, FSB, Universities, enterprise zones and banks. The link to contac...

  Motor Vehicles Accounting and Taxation for Your Business Accounting and taxation for motor vehicles is a complex area in general. The aim of this blog is to provide a general overview of accounting and taxation on motor vehicles for your business and what is allowed and disallowed in different cases. First and foremost, there are slightly different regulations for business vehicles (purely for business purposes) and private vehicles (used for business purposes). The aim of this blog is to provide an overview for both types of vehicles. Business Vehicles (Vehicles You Buy from the Business for the Business) Any vehicle or van bought for business purposes needs to be recorded onto the balance sheet of the business. This will be depreciated annually, and any profit or loss made from selling the vehicles will be included in the business profit and loss account. Claimable Expenses: By having a business vehicle, there are certain expenses which then become allowable to claim against se...

Good day. If you haven’t melted over the weekend, given yourself food poisoning from the barbecue or overdone it with the strawberry daiquiri’s (guilty) you may find some of the information below useful. It may not all be relevant to you but take from it what you need. If you would like to talk any of this through or understand how any of the content may affect you, please drop me an email and I’ll get back to you. (info@togetherwecount.co.uk)     SEISS Second Grant Claims The second round of Self-Employed Income Support Scheme Claims will begin on 17 th August. If you are self-employed, I have included the information for round two of the scheme below.   Redundancy and Furlough  Please see below for a more in-depth description of all the items mentioned.   Loan Charge Voluntary Restitution HMRC have now released guidance notes on how they intend to refund those eligible who have already reached a settlement with HMRC on the grounds ...

Dear all, TOGETHER WE COUNT UPDATE - Employer update The Government have just released further details regarding employer eligibility to receive the Job Retention Bonus of £1,000 per employee in February 2021. I thought I would share that with you.   What does the employer receive?   £1,000 from the Government for each eligible employee. The claim can be made through the Gov.UK portal in February 2021. The JRB is taxable and should, therefore, be reflected in the business accounts.     An eligible employer?   Made a legitimate claim for an eligible employee under the Coronavirus Job Retention Scheme (CJRS). Must have complied with their obligations to pay and file PAYE accurately and on time under Real Time Information (RTI) reporting system for all employees. Payroll records kept up to date and are accurate. HMRC requests to provide missing employee data regarding CJRS claims are met. Up to date RTI records for the period to the end ...