COVID support grants that are taxable

We would like to remind readers that existing legislation is in place to ensure that COVID support grants are treated as taxable income in the same way as other taxable receipts. The grants are

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Mobile phone exempt costs

When an employee incurs costs for the provision of mobile phones to employees it is important to understand the correct tax treatment of these expenses. This includes costs for phones provided to

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Debt respite scheme launched

A new scheme, aptly named Breathing Space, was launched 4 May 2021.

Breathing Space will give those facing financial difficulties space to receive debt advice, or mental health crisis treatment,

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VAT – transfer as a going concern

The transfer of a business as a going concern (TOGC) rules concern the VAT liability of the sale of a business. Normally the sale of the assets of a VAT registered or VAT registerable business will be

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Tax-free capital gains

As with Income Tax personal allowances, taxpayers have an annual exempt amount for Capital Gains Tax (CGT) which is forfeited if not used. The annual exemption for individuals in 2021-22 is

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Tax on savings interest

If you have taxable income of less than £17,570 in 2021-22 you will have no tax to pay on interest received. This figure is calculated by adding the £5,000 starting rate limit for savings (where 0% of

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New self-build initiative

In a surprise weekend announcement, the Housing Secretary Robert Jenrick has revealed new plans for £150 million of funding to make it easier and more affordable for people to build their own homes.

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