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With more of us working from home, there’s some good news for employees from HMRC. Tax relief can now be claimed to cover some of the costs of working from home. An employer can pay an employee £312 every tax year (equivalent to £538 gross for a higher rate taxpayer).…
With the Self-Assessment Tax Return deadline remaining at 31st January 2021, over one million people planning to delay filing their tax returns will face having to pay fines and interest for late submission and payment. Stress due to the current pandemic is causing many people who file self-assessment tax returns…
Following the worst imaginable start to the New Year we would like to update you on the latest Government support available to help businesses and individuals through the pandemic. New Lockdown Grants Announced The Chancellor has announced that Businesses in the retail, hospitality and leisure sectors are to receive a one-off…
The last day for submitting and arranging payment of your 2019-20 Tax Return is Sunday 31st January 2021. With everything that has happened this year, it’s understandable that many people are struggling to meet the deadline – Folkes Worton can help, taking the pressure off you to complete your return…
With the Government setting new and ambitious targets to reduce carbon emissions, giving the Motor Industry deadlines for ceasing production of fossil fuel and hybrid vehicles, as well as offering new incentives for vehicle owners to switch to all electric; is now the right time to convert to the all…
Challenging Times? Find out how to protect your property and liquid assets with Folkes Worton. These are challenging times and the uncertainties created by the current crisis may have made you concerned about your business’s or your own personal financial exposure. You may therefore be interested to learn, that at…
Folkes Worton LLP Chartered Accountants are OPEN in Lockdown II. We’re working safely and here to help. Call us on 01384 376 964 In these uncertain times, Folkes Worton will be remaining open to help support businesses through Lockdown II. Here’s a few things you might like to know about…
To help smaller Limited Companies, Partnerships and Sole Traders get through and recover from the current pandemic, the Government launched the ‘Bounce Back Loan Scheme’ for loans between £2,000 and a maximum of £50,000 over 6 years. There’s no set-up fees and the first 12 months is interest on capital…
Business owners and managers should be aware and plan for the reduction of the Annual Investment Allowance (AIA) on 1st January 2021 from its two year temporary level of £1 million back to £200,000 per annum. You should note that there is a cap on any expenditure on or after…
A Margin Scheme is an optional method of accounting which allows certain businesses to calculate VAT based on the ‘value’ they add to the goods they sell, rather than on the full selling price. Without the use of the Margin Scheme, businesses would have to account for VAT on the…