The Social investment tax relief (SITR) scheme is a tax relief scheme to encourage individuals to support social enterprises and to assist social enterprises access new sources of finance. The lifetime maximum amount that social enterprises can raise through SITR is £1.5 million. This includes any money received by subsidiaries, former subsidiaries or businesses that

There are working time limits that state the legal maximum weekly working hours that a person has to work should not exceed an average 48 hours. The maximum hours for under 18’s are fixed at no more than 8 hours a day or 40 hours a week. The average working hours are calculated over a 17-week

At the end of September, many of the government interventions to support business owners crossed the finishing line. The CJRS and SEISS schemes closed 30 September and the reduction in VAT to 5% for the hospitality sector restarted its return to 20% – from 1 October the rate increases to 12.5% until 31 March 2022,

Firms might be advised to assess clients’ risks from continuing COVID disruption, supply issues and inflation… Those at the highest risk level will be in dire need of support as the winter cycle progresses. Time to dust off consultancy skills and make good use of digital data collection to create business plans that will help

HMRC’s guidance in VAT Notice 714 – Zero rating young children's clothing and footwear explains when supplies of children’s clothing and footwear can be zero-rated. Supplies of children’s clothing and footwear can usually be zero-rated where all the following conditions are met: The item must be an article of clothing or footwear; The item must

Have you considered how you will adapt your practice working routines to cope with the advent of MTD for Income Tax and then Corporation Tax? Even though, as we learned last week, MTD ITSA has been deferred until April 2024, instead of an annual SA filing cycle, come 2024-25, there will be five filing cycles

The Employment Tribunals (Constitution and Rules of Procedure) (Early Conciliation: Exemptions and Rules of Procedure) (Amendment) Regulations 2021 have been laid before Parliament. The amendment regulations: substitute a new rule 54 of the Employment Tribunals Rules of Procedure which deals with the fixing of preliminary hearings – the new rule 54, which comes into force

Temporary measures brought in to support businesses from insolvency during the pandemic will be phased out from 1 October. Companies in financial distress as a result of the pandemic have been protected from creditor action since June last year, through the Corporate Insolvency and Governance Act 2020. This was to ensure that viable businesses affected

The Statutory Sick Pay (Coronavirus) (Funding of Employers’ Liabilities) (Closure) Regulations and the Statutory Sick Pay (Coronavirus) (Funding of Employers’ Liabilities) (Northern Ireland) (Closure) Regulations 2021 have been laid before Parliament and will come into force on 30 September 2021. The effect of the regulations is that eligible small and medium size employers will no

The announcements recently, that Class 1 and Class 4 NIC contributions are being raised by 1.25% points would seem to be a fairly straight forward adjustment to payroll software when the change impacts from April 2022. One would hope that programmers can deal with the change without losing too much sleep… Then the announcement expanded