From the beginning of this month, the Brexit transition period has ended. Negotiations to secure a trade agreement between the UK and the EU from 1 January 2021, have completed and we have a deal. Readers who import or export goods from or to the…
Author: Ellie Roach
Scammers posing as HMRC
We already have more than our fair share of adversity to deal with at present, don’t let criminals add to your woes by defrauding you of hard-earned cash resources. HMRC has recently published a warning to taxpayers about scammers posing as HMRC employees. They said:…
Strategies for the self-employed
The end of the calendar year is a popular accounting date for many businesses, but for those of us with a year-end accounting date of 31 March 2020, reviewing your management accounts for the nine months to the end of December 2020 can have real…
The end is nigh…
In just three short months the present tax year – 2020-21 – will end midnight, 5th April 2021. The UK’s tax code is predominantly time-limited. Any reliefs and exemptions from UK taxes for 2020-21 will mostly expire at the end of the tax year. Accordingly,…
More on extended furlough scheme
Most employers who are eligible will be aware that the furlough scheme (the Coronavirus Job Retention Scheme) has been extended for five months – from 1 November 2020 to 31 March 2021. The general terms for the first quarter to 31 January 2021 are: Maximum…
Cashback at all shops
Brits will be able to get cashback from shops without needing to buy anything under new proposals to protect the UK’s cash system, which were announced on 15 October 2020. Under the government proposals, cashback without a purchase could be widely available from retailers of…
Students warned to avoid tax scams
Readers with children at university should pass on this message as students starting university this year are being warned by HMRC that they could be targeted by a fresh wave of tax scams. As new students start the academic year, they can be particularly vulnerable…
Make hay while higher rate relief is available
For many years Chancellors have threatened to reduce the Income Tax relief that can be claimed for payments into a private pension scheme. There have been reductions in the amount of contributions that can be made and the size of the pension fund that can…
DSC shortlisted for Yorkshire Accountancy Awards
DSC are delighted to have been shortlisted in 2 categories of this year’s Yorkshire Accountancy Awards – Managing Partner and Trainee of the Year! Our Managing Partner, John Campbell, has been shortlisted for his outstanding contribution to the success of the practice and his continued…
How much of your estate will be taxed?
The present rate of Inheritance Tax (IHT) that is payable by your executors on your taxable estate is 40%. The good news is that you can reduce the impact of this tax, which effectively reduces the amount of your hard-won assets that is received by…