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…
The Government has stepped up investigations into tax avoidance on income from holiday homes abroad. Thousands of landlords could be caught out for not declaring income from these overseas properties. Data from a Freedom of Information request has shown that tax on income from overseas rental properties has jumped by…
In May, taxpayers who pay their tax through self-assessment were offered the opportunity to delay their July payment on account for the 2019-20 financial year until 31st January 2021. This may seem a tempting option, helping with cashflow now. However, as only the last two weeks of the 2019-20 tax…
Recent research has revealed that less than a quarter of UK adults discuss inheritance within their family group, and less than 17% is aware if they’ll inherit anything at all. Expectations of what any inheritance might be worth can be as much as 60% less than its actual worth. Whilst…
Self-employed mothers who took maternity leave during the Government’s Self-Employed Income Support Scheme (SEISS) qualification period, were set to be penalised as their earnings would have dropped while taking their leave. Around 70,000 women would have been affected by the way that the SEISS is calculated, as they were only…
Chancellor Rishi Sunak has today, Wednesday 8th July 2020, made a very welcome announcement for the Property Industry, raising the threshold for which Stamp Duty Land Tax is paid from £125,000 to £500,000 until 31st March 2021. This means that if you are buying a house under £500,000 you will…