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The Accountants for Growth

Chancellor Rishi Sunak announcement - statement in the House of Commons

Chancellor Rishi Sunak announcement  - statement in the House of Commons
- job support scheme
- self-employed grant scheme extension.
- repay bounce back loans over a period of up to 10 years
- keep VAT at 5% for hospitality and tourism industry until 31 March 2021.

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Temporary VAT Business guide – What to do next

Temporary VAT
Business guide – What to do next
The temporary 5% VAT rate 
 
Basic outline
 
The Government are reducing certain VAT rated supplies down from the 20% standard rate down to a 5% temporary rate.
It covers the period from 15th July 2020 to 12th January 2021.
Aimed at the hospitality, hotel and holiday accommodation sectors as well as admissions to certain attractions.
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New capital gains rules for residential properties

New capital gains rules for residential properties
Whilst COVID-19 is still at the forefront of everybody's minds at present, it is important to note that some recent tax changes have still taken effect from the 2020/21 tax year.

With that said, one of the most important changes to be aware of is in respect to disposals of UK residential property on or after 6 April 2020 by UK-resident taxpayers, specifically that these transactions must be reported to HMRC within 30 days of completion if they generate a tax liability.

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Self-Employed Income Support Scheme - How to tap into this Government support

Self-Employed Income Support Scheme - How to tap into this Government support

In this blog I will be explaining who is entitled to claim under the Self-Employed Income Support Scheme and how to access that support

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Complexities of main residence v second home for higher rate stamp duty

Complexities of main residence v second home for higher rate stamp duty
Imagine a married couple own a house in Birmingham and one in Llandudno. They have nominated the Llandudno property as their principal private residence. They both spend three or four nights in Birmingham during the week as it is close to their respective work.

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