Blogs from Larking Gowen

Nina looks into the recent government announcement about the self-assessment tax returns submission date and the one-month, no penalty reprieve.

The Government has announced grants to help businesses hit by the rise in COVID cases, as well as re-introducing the Statutory Sick Pay Rebate Scheme. Martin Sanders discusses what this may mean for leisure, hospitality and tourism businesses and whether the government support goes far enough.

Peter discusses the pros and cons of a cash free economy.

Lee Green looks at HMRC’s recent guidance update about possible joint and several liability notices being issued to directors of insolvent companies that have a tax liability with HMRC. 

Jamie looks at salary sacrifice schemes for cars and the impact on pension benefits and growth.

Jamie explores the options for tax relief on cars for medical professionals, whether they are partners or salaried.

William reviews the changes that Making Tax Digital will make to the self-employed and landlords who currently complete an income tax self-assessment return.

A ‘preference’ occurs when a company facing insolvency puts a specific creditor, or group of creditors, into a better position than the other creditors. A director could face personal liability if a preference has been made, which could result in the director being disqualified.

Lee Green looks at the implications of Director Loan Accounts (DLAs) when a company goes into liquidation and emphasises that not all directors are aware of their personal liability if the account is overdrawn.

HMRC recently announced that the ‘Income Tax: basis period reform’ has been delayed until at least April 2024. This may give businesses a little more breathing space, however, if and when the reform is enacted, there are a number of matters to consider, not least the impact on cashflow.

Giles Kerkham explains how the measures announced in the Autumn Budget 2021 will impact charities and not-for-profit organisations.