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New IR35 Rules

From today (6th April 2021), all public sector clients and medium or large-sized private sector clients will be responsible for deciding their worker’s employment status. This includes some charities and third sector organisations. If the off-payroll working rules apply, your worker’s fees will be subject to Income Tax and National Insurance contributions. For further information,…

Domestic Reverse VAT Charge for Building and Construction Services

Domestic Reverse VAT Charge for Building and Construction Services Croner-i have provided the following notes regarding the new rules: Overview The domestic reverse charge (referred to as the reverse charge) is a major change to the way VAT is collected in the building and construction industry. It comes into effect on 1 March 2021 and…

Taxation of the Self-Employment Income Support Scheme Grant (SEISS)

Taxation of the Self-Employment Income Support Scheme Grant (SEISS) All SEISS amounts received will be subject to income tax and National Insurance contributions and will need to be included on your Tax Return. Croner Taxwise have released some notes providing further detail on this, which we should suggest that you have a read through: https://www.cronertaxwise.com/community/my-vip-tax-team-question-of-the-week-taxation-of-seiss-grants/…

Extension to the Coronavirus Job Retention Scheme (CJRS) and the Self-Employment Income Support Scheme (SEIS)

Extension to the Coronavirus Job Retention Scheme (CJRS) and the Self-Employment Income Support Scheme (SEIS) The following notes have been provided by HMRC: Extension to the Coronavirus Job Retention Scheme Today the Chancellor has announced that CJRS will be extended until the end of March‌‌‌ 2021 for all parts of the UK. For claim periods…