Elsa Jones Blog

• Termination payments and Class 1A National Insurance

  As the Coronavirus Job Retention Scheme comes to an end, employers with employees who are still on furlough will need to…
• Claim tax relief for additional costs of working from home

  During the Covid-19 pandemic, the advice was ‘work from home if you can’. As a result, millions of employees found themselves…
• Take dividends while you can

  For personal and family companies, a tax efficient strategy for extracting profits is to take a small salary and to extract…
• COVID Losses Cash Back Bonus – up to triple the benefits!

  Due to the impact of COVID-19, the government want to give businesses who have suddenly suffered significant losses, an opportunity to…
• Expenses and benefit returns for 2020/21

  Expenses and benefits returns P11D and P11D(b) for 2020/21 need to be filed by 6 July 2021. Meeting this deadline is…
• NIC and company directors

  Special rules apply to company directors when it comes to calculating their Class 1 National Insurance liabilities. Why the rules Directors,…
• No retained profits – Can you extract cash to cover your living expenses?

  If you operate through a limited company, for example as a personal or family company, you will need to extract funds…
• Reduced rate of VAT

  To help the hospitality and leisure industry recover from the impact of the first national lockdown, a reduced rate of VAT…
• Reporting expenses and benefits for 2020/21

  Employers who provided taxable expenses and benefits to employees during the 2020/21 tax year will need to report these to HMRC,…
• Restart Grants and Recovery Loans

  As lockdown restrictions are eased, businesses may need help to re-open and to recover from the impact of the pandemic. Depending…
• Can you claim the Employment Allowance for 2021/22?

  The Employment Allowance is a National Insurance allowance that enables eligible employers to reduce their employers’ (secondary) Class 1 National Insurance…
• Take advantage of the enhanced carry back of losses

  Many businesses have suffered losses as a result of the Covid-19 pandemic, and where a business has made a loss, various…