Tax-Efficient Savings Update | Lall Ondhia

As the new tax year progresses, now is a good time review some of the tax-efficient savings incentives available which may help maximise potential returns.

Help-To-Save

The Help-to-Save scheme offers working people on low incomes a 50% bonus, rewarding savers with 50p for every £1 saved. Over four years, a maximum…


This guidance page was updated on 12 June to include details on how the scheme will change from 1 July. The first time you will be able to make claims for days in July will be 1 July, you cannot claim for periods in July before this point. …


Making Tax Digital For VAT: Second Phase Delayed

HMRC have announced the postponement of phase two of their Making Tax Digital (MTD) for VAT project.

This ‘phase two’ required businesses to digitally link their software all the way from entry of each transaction at one end of the process through to submission of the VAT return at the…


The start of the new tax year often marks the beginning of an extremely busy time for those using the construction industry scheme (CIS). HMRC have issued a reminder of some of the help that is currently available to help ease the workload. …


The Housing Secretary on the government’s response to COVID-19 and the plan to safely restart, reopen and renew the housing market.
When the lockdown was announced in March, we changed the rules so that people could only move home if they thought it was “reasonably necessary”.

That meant that more…


Chancellor Extends Furlough Scheme Until October 2020

The government’s Coronavirus Job Retention Scheme will remain open until the end of October,

The key points announced by Chancellor Rishi Sunak are:

  • Coronavirus Job Retention Scheme will continue until the end of October
  • furloughed workers across the UK will continue to receive 80% of their current salary, up to…

TOP-UP TO LOCAL BUSINESS GRANT FUNDS SCHEME

The Government has announced a discretionary fund has been set up to accommodate certain small businesses previously outside the scope of the business grant funds scheme.

The Business Secretary Alok Sharma and Minister for Regional Growth and Local Government, Simon Clarke spoke to local authorities in England yesterday to set…


Corona Virus (COVID-19) Update

The Coronavirus (COVID-19) outbreak has brought an unprecedented array of challenges for businesses and their agents. Information is changing on an almost daily basis, making it difficult to keep up-to-date with business support measures and where to find the necessary guidance.

The first port of call for Covid-19 guidance for…


Government Support For Businesses

The Chancellor has set out a package of temporary, timely and targeted measures to support public services, people and businesses through this period of disruption caused by COVID-19.

This includes a package of measures to support businesses including:

  • a Coronavirus Job Retention Scheme
  • deferring VAT and Income Tax payments
  • a…

HMRC has announced that it will increase the maximum flat-rate tax deduction available where employees incur additional household costs where they work at home under homeworking arrangements, from £4 per week to £6 per week. This will take effect from April 2020.

Broadly, no tax liability arises where employers make…

Dhiren Mistry

Helping businesses grow through Digital, Media and Technology Solutions https://dmtsolutions.co.uk

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