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Covid-19 Government Support for Business (updated 14 April 2020)

by Jessica Garbett | Apr 14, 2020 | business issues, business taxation, Covid19

Updated 16 April 2020 The Government has outlined widespread support for businesses during the Covid-19 disruption. For ease we are rolling all content into this post, which we are updating as new information becomes available, please bookmark and check back.....

Tribunal’s timely decision in battle with Dixons

by Jessica Garbett | Mar 30, 2020 | ACCA, business taxation, VAT

High street retailer Dixons lost a bid to reclaim £1.8m of overpaid VAT for one simple reason… In Dixons Retail Plc v HMRC [2019] the high street retailer lost a First Tier Tribunal appeal for the right to reclaim £1.8m of overpaid VAT on dishonoured cheques –...

Budget 2020: Corporation tax rate unchanged

by Jessica Garbett | Mar 13, 2020 | ACCA, budget, business taxation

Expected cut to an already low rate did not happen. Since 2010 the government has cut the headline rate of CT from 28% to 19%, giving the UK the lowest headline rate in the G20. The expected cut to corporation tax did not take place and to ‘provide support for vital...

R&D expenditure credit increased to 13%

by Jessica Garbett | Mar 13, 2020 | ACCA, budget, business taxation

Consultation announced on data and cloud computing expenditure qualifying for R&D tax credits. Research & Development tax credits This objective will be supported by increasing the Research & Development Expenditure Credit (RDEC) rate from 12% to 13% from...

Averaging profits for farmers – a refresher

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

A refresher from ACCA on how farmers and market gardeners in the UK may obtain relief by averaging the profits of consecutive years. Farm subsidies The Direct Payments to Farmers (Legislative Continuity) (DPLC) Bill provides governments across the UK powers to...

Independent review into loan charges

by Jessica Garbett | Feb 6, 2020 | ACCA, business taxation, personal taxatation, PSC

Have you seen HMRC’s response to the review’s outcomes? You may have already received HMRC’s communication highlighting its advice around the independent review into loan charges where it signalled it will refund voluntary payments. HMRC stated in its update:...

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Covid-19 Government Support for Business (updated 14 April 2020)

Tribunal’s timely decision in battle with Dixons

Budget 2020: Corporation tax rate unchanged

R&D expenditure credit increased to 13%

Averaging profits for farmers – a refresher

Independent review into loan charges

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