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ACCA Factsheet: accounting for coronavirus

by Jessica Garbett | Dec 17, 2020 | ACCA, business taxation, Covid19, financial reporting

ACCA issue a revised technical factsheet addresses the accounting aspects of some of the grants and reliefs made available by the government due to Covid-19. The impact of Covid-19 (coronavirus) has had a significantly detrimental effect on businesses across the UK....

Changes to R&D SME tax relief

by Jessica Garbett | Dec 11, 2020 | ACCA, business taxation

Guidance on changes to R&D SME tax relief, which will be legislated in Finance Bill 2021. Alongside the Finance Bill we have the draft legislation for the R&D SME scheme PAYE/ NIC cap. The design of the PAYE cap will include the following features: a...

A Handy Guide to Ten Common Tax Elections and Claims from ACCA

by Jessica Garbett | Dec 4, 2020 | ACCA, business taxation, capital taxation, personal taxatation

We look at some of the more common elections and claims which are useful tax planning or compliance tools. Some of these claims have strict time limits which should be given due consideration to avoid missing any deadlines. 1. Form 17 (Declaration of beneficial...

Relief available on losses on loans to traders

by Jessica Garbett | Dec 2, 2020 | ACCA, business taxation

The how, when and by whom relief can be claimed on losses. Who is eligible? Relief is available under section 253 of TCGA 1992 where a loan: is made to a UK-resident borrower (if the loan is made before 24 January 2019) or to non-UK resident borrowers since that...

Self Assessment Payments on Account – Coronavirus Implications

by Jessica Garbett | Nov 30, 2020 | business taxation, Covid19, personal taxatation

Payments on Account are one of the more confusing aspects of the Self Assessment system, and the income fluctuations from Coronavirus over recent months will only make this worse. Lets try and pick this apart. Payments on Account apply to all Self Assessment cases, so...

ACCA Self assessment support – record keeping, estimates and valuations

by Jessica Garbett | Nov 27, 2020 | ACCA, business taxation

As the self assessment tax return deadline is approaching, taxpayers should be reminded that they are required to keep any records and documents that they have used on completing entries in their self assessment return. Retention period Periods for retaining records...

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ACCA Factsheet: accounting for coronavirus

Changes to R&D SME tax relief

A Handy Guide to Ten Common Tax Elections and Claims from ACCA

Relief available on losses on loans to traders

Self Assessment Payments on Account – Coronavirus Implications

ACCA Self assessment support – record keeping, estimates and valuations

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