Tax Free Childcare During the school holidays, many parents face having to organise extra school holiday childcare over the summer months. Working families can use the Tax-Free Childcare (TFC) scheme (Tax-Free Childcare – GOV.UK (www.gov.uk) to help if they have children aged up to 11 years old (17 for those with certain disabilities). The TFC…
Spring Statement 2022 Against a backdrop of rising inflation, Chancellor Rishi Sunak presented his first Spring Statement on Wednesday 23 March 2022. In his Spring Statement, the Chancellor announced a cut in fuel duty for petrol and diesel as he sought to ease the impact of rising prices for households and businesses. The Chancellor will…
Autumn Budget 2021 The Chancellor Rishi Sunak presented his third Budget update on 27 October 2021. In his speech he set out the plans to “build back better” with ambitions to level up and reduce regional inequality. For information of users: This material is published for the information of clients. It provides only an overview…
How do we price for our services? A common query we are asked is how do we price for our services? At Dawes Accountants, we have moved away from charging by the hour and only offer fair fixed monthly fees for services delivered. No surprise billing, you will know what you will pay us each…
Extension to the Coronavirus Job Retention Scheme (Furlough) The Coronavirus Job Retention Scheme (CJRS) has been extended until the end of September 2021. The UK Government will continue to pay 80% of employees’ usual wages for the hours not worked, up to a cap of £2,500 per month, up to the end of June 2021.…
Self-Employment Income Support Scheme – future grants confirmed The UK Government has announced that the Self-Employment Income Support Scheme (SEISS) will continue until September with a fourth and fifth grant. The fourth and fifth grants will take into account submitted 2019-20 tax returns. This means you may be able to claim, even if they were…
Who can claim the 3rd SEISS Grant? We have seen this asked a few times across social media and by our clients, so here is a guide on the current guidance issued on who can claim as detailed by HMRC here; 1. Who can claim To be eligible for the grant extension self-employed individuals, including members…
Government support update lockdown 2.0 The Government have issued further guidance on the support packages available during Lockdown 2.0. The continually changing guidance has proved challenging, however, we are dedicated to supporting you. We have therefore summarised the details of the updated guidance for you… ✅ Extension to the Coronavirus Jobs Retention Scheme (CJRS) The CJRS…
Tax Free Christmas Presents! How you can buy your family gifts using your Limited Company Trivial Benefits Annual Allowance. HMRC allows your company to buy tax free Christmas presents or any gifts for employees (including directors) or direct family members (living in same household) up to value of £50 each as long as following applies;…
Making Tax Digital update HMRC have released a Making Tax Digital (MTD) Update, releasing revised proposed dates for its full implementation. They have released details on their 10 year strategy here. What is Making Tax Digital? Making Tax Digital is HMRC initiative to move businesses to keeping digital records and to report their financial information…
Self Employment Income Support Scheme (SEISS) Tax Treatment HMRC have released draft legislation for the tax treatment of Self Employment Income Support Scheme (SEISS) grant payments. It has always been stated the the Grant payments will be classed as taxable income. A question was always whether the March element of the payment should be included…
Self-Employment Income Support Scheme Update on 2nd payment HMRC have updated the guidance relating to the second Self-employment Income Support Scheme Grant, which will be available to claim in August. This will be the final grant. You must make your claim for the 1st grant on or before the 13th July 2020, if you have…
Flexible Furlough – Coronavirus Job Retention Scheme Update On Friday 12th June HMRC updated the guidance relating to how the new “Flexible Furlough” Scheme will operate, as of the 1st July 2020. As of the 1st July 2020, employers are able to bring staff who have previously been furloughed back to work, for any amount…
Furlough Scheme Update – Important Date to note – 10th June The Chancellor has recently updated us with the changes to the Furlough scheme, which are detailed in full below. Included in this is a very important date to note being the 10th June. This is the date employees must be on the furlough scheme by,…
Furlough support and SEISS (Self Employment Income support) update The Chancellor has been speaking at tonight’s government update to provide further information on Furlough and SEISS support measures. Here is a summary of the changes announced; Self Employment Income Support A Further payment will be made in August based on the same calculation as the…
Can an employee take Holiday whilst on Furlough?, this is a common question we have seen being asked, so we thought it would be good to do a quick update on the subject. The short answer is, yes, holiday can be taken and be forced to be taken whilst on Furlough. Click here for full…
Electric cars are now only a 1% benefit in kind for the tax year 2021/22! For personal electric cars provided to employees the benefit in kind rate for the employee is only 1% of the list price! 😀 Meaning for a £30,000 vehicle employees will pay tax on a benefit of only £300. For basic…
I recently went to a Networking evening and was asked why do you choose Xero? I explained Xero is a great product on its own, has great time-saving features and is the most user friendly of all the cloud products (in my opinion), but the real power lies in the numerous Apps that connect with…
A client came to us who was very stressed about the running of their business. They were spending hours on the administration and bookkeeping side, it was causing them undue stress and they had no free time. The business had a manual record keeping system, a combination of excel, paper invoicing, manual debtors system, manual…