The Coronavirus Bill is passing through parliament today (19th March 2020). Measures announced so far, by the government to support individuals and businesses, as we get through COVID-19, are summarised below. At a glance Announcements cover the following topics: IR35 & off-payroll working Statutory Sick Pay (SSP) IR35: off-payroll working & SSP Self-employed and […]
For modern times we are in unprecedented waters. No-one knows just exactly what we are all in for over the next few months. However, we do have financial information we can impart, which we highlight below. Fyfe Moir & Associates will be operational, irrespective of lockdowns, office closures or anything else which may be ahead […]
Who would have thought at the beginning of this New Year a virus and a dispute between two authoritarian countries over oil could bring the World economy into sharp focus? Coronavirus, there’s an addition to the dictionary, has struck. We are not at all medical and cannot comment on its medical effect, but it has […]
Loan Charges The following is an extract taken from a letter received by a client and which will relate to many contractors who were involved in what is commonly called “Loan Charges”. There are no details which can identify our client and the client is happy for us to reproduce this information. Changes to […]
There have been a number of changes to the tax rules applying to residential property in recent years. The first significant “attack” on residential landlord’s in recent times was the restriction on tax relief for those Landlord’s who had borrowings relating to their residential property business. This affects only individuals and partners, not limited liability […]
There are exemptions for some trivial benefits given to an employee and to a limited extent a director of a close company. A trivial benefit is one that: Costs £50 or less (including VAT); If it is a voucher, it cannot be convertible into cash; Isn’t a reward for service or in any way contractual; […]
In all likelihood you will be aware that IR35 changes mooted for April 2019, have been delayed until April 2020. This gives us an opportunity to explore alternative options and to this end we are holding a seminar on 24 April to be presented by Paul Mason of Abbey Tax. Paul is an eminent and […]
Contractors who work through personal service companies (PSC)and contract to private sector businesses will see their contracts brought under tighter scrutiny from April 2020. It will be the role of the private company to decide if the contractor is working under a contract and has the working practices which would indicate them to be working […]
What is it? It is a part of HMRC’s ambition to become one of the most digitally advanced tax administrations in the world. It commences on 1 April 2019 with VAT. All UK businesses that are VAT registered and above the £85,000 VAT threshold will be required to keep their records digitally and submit VAT […]
For those people not living in and around Aberdeen it is reasonable not to know of the controversy over Aberdeen Football Club’s proposed new stadium to the east of Westhill, but within the Aberdeen City boundary. Let me first of all nail our colours to the mast; we are wholeheartedly in favour of the new […]
