Self Assessment Archives - Merranti Accounting

Furnished holiday lets

Furnished holiday lets

August 2, 2021

Landlords who let holiday accommodation have largely been left out of the covid-related business support. Where the property was registered for business rates, the owner qualified for some small local authority grants, but other landlords received nothing. Holiday letting businesses have also suffered from the various lock-downs that restricted travel across the country. This has

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Child benefit clawed back

Child benefit clawed back

July 28, 2021

Child Benefit is a universal benefit; every family with a child under 16 (20 if the child is in approved education or training) is entitled to receive it. However, since 2013, Child Benefit has been clawed back from certain higher rate taxpayers by means of a tax charge. This tax charge applies where the higher

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Umbrella Company IR35 HMRC

Beware of IR35 traps

July 28, 2021

Where a contractor operates via their own personal services company (PSC), work performed for large or medium-sized clients in the private sector may now fall under the ‘off-payroll working rules. This is a new version of IR35, which requires the end client to decide whether there is a deemed employment relationship for tax purposes with

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HMRC Repayment

Repayment claims challenged by HMRC

July 16, 2021

Repayment claims are being challenged by HMRC, do not ignore them when they contact or you risk losing out Many taxpayers are currently claiming tax refunds, as the covid-19 pandemic has turned normally profitable businesses into loss-making ones. Unfortunately, fraudsters are also trying to cash in, by using the ID details of genuine businesses to

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Furlough Update

Furloughing extended / Self Employed Grant

May 17, 2021

The Coronavirus Job Retention Scheme (CJRS) for furloughed workers has been extended until 30 September 2021. Currently, the worker must receive a minimum of 80% of ‘normal’ pay for their furloughed hours and this will continue through to September. Until 30 June 2021, the position of the employer will be unchanged, namely: They can claim

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