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03/08/2020

Ashdown Hurrey have a Facebook page and Twitter account that are updated regularly with informative and engaging content. This includes Q&A articles, general tax advice and updates on the Ashdown Hurrey team’s activities. Our Facebook page can be found at “www.facebook.com/AshdownHurrey” and our Twitter handle is...

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Ashdown Hurrey Offices

03/07/2020

Both Ashdown Hurrey offices have now reopened. In line with Government recommendations, social distance rules are being adhered to. As a result some of the internal systems and working practices have been adapted to reduce risk of transmission. All meetings will have to pre-booked and we ask all clients to contact the office if they...

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Temporary extension to the Help to Buy scheme

29/10/2020

The Help to Buy equity loans scheme is open to both first-time buyers and home movers on new-build homes in England with a purchase price up to £600,000. The Help to Buy equity loans provide a low-interest loan towards the deposit. The loan is interest free for the first 5 years. New home buyers need a 5% deposit, and the government lends...

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Job Support Scheme for closed businesses

29/10/2020

The CJRS or furlough scheme ended on 31 October 2020 and has been replaced by the Job Support Scheme (JSS). This JSS has been designed to help businesses and employees deal with a fresh spike of the virus and a winter of uncertainty. The JSS is now split into two parts, the JSS Open for businesses which remain open and the JSS Closed for...

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Venues required to enforce rule of six

29/10/2020

Since 18 September 2020, many designated venues in England have been required to enforce the rule of 6. The 'rule of 6' bans any social gathering of more than 6 people, except under limited circumstances such as if a single household or support bubble includes more than 6 people. Services included within the legal requirements to enforce...

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Carry back charitable donations

29/10/2020

If you pay Income Tax at the basic rate no additional relief is due on your charitable donations. However, if you are a higher rate or additional rate taxpayer then you can claim tax relief on the difference between the basic rate and your highest rate of tax. This relief is given by increasing your basic rate and higher rate band by the...

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JSS – financial impact test for large employers

29/10/2020

The Job Support Scheme (JSS) Open is available from 1 November 2020 for businesses that remain open but with employees working reduced hours. Employees must work at least 20% of their usual hours, paid as normal, in order to qualify for the JSS Open. The employee will then receive 66.67% of their normal pay for hours not worked. Employees...

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JSS fraudulent claims

29/10/2020

The Job Support Scheme (JSS) has replaced the Coronavirus Job Retention Scheme (CJRS) which came to an end on 31 October 2020.There are significant concerns that between 5%-10% of claims made under the CJRS were fraudulent or made in error. There are additional anti-fraud measures in place to help prevent fraudulent claims made under...

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Events company collapse

29/10/2020

A recent investigation by the Insolvency Service has seen a husband and wife disqualified from being directors for a total of 17 years. The husband and wife team were directors of a company that provided conference and event organisation services across the UK. The male director had resigned as a director of the company in November 2014...

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Unravelling the jargon: what is a support bubble?

27/10/2020

The following notes are copied from the GOV.UK website. At first glance, it would appear that the definition of a support bubble should be fairly easy to grasp. Don’t hold your breath. Basically, a support bubble is a close support network between a household with only one adult in the home (known as a single-adult household) and one...

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Handling food? Wash, those hands

27/10/2020

If you are considering any change to your business activities that will involve handling any packaged food or raw ingredients, as you would expect, there are a raft of regulations that you will need to consider and adopt. The Department of the Environment has published considerable guidance on the GOV.UK website. Simply Google...

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Tax Diary November/December 2020

25/10/2020

1 November 2020 - Due date for Corporation Tax due for the year ended 31 January 2020. 19 November 2020 - PAYE and NIC deductions due for month ended 5 November 2020. (If you pay your tax electronically the due date is 22 November 2020.) 19 November 2020 - Filing deadline for the CIS300 monthly return for the month ended 5 November...

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New cashback scheme proposed

22/10/2020

The government has announced plans to allow customers to get cashback from shops without needing to make a purchase. At the moment, cashback is only available to those who buy goods. The new proposals have been put in place to help protect the UK’s cash system following a steady decline in the use of cash. This process has accelerated...

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Closing a limited company

22/10/2020

There are a number of reasons why you may decide to close your limited company. This could be because a limited company structure no longer suits your needs, your business is no longer active, or the company is insolvent. You will usually need the agreement of all the company’s directors and shareholders to close down the company. The...

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Brexit countdown importers

22/10/2020

As we have reported previously, the UK government has confirmed that it will neither accept nor seek any extension to the Brexit transition period which expires on 31 December 2020. The EU has formally accepted this position. This means that the process for importing goods from the EU will change from 1 January 2021. HMRC has published...

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Brexit countdown exporters

22/10/2020

The Brexit transition period is due to end on 31 December 2020 and this means that the process for exporting goods to the EU will change from 1 January 2021. Current guidance published by HMRC states that from 1 January 2021, businesses will need to make customs declarations when exporting goods to the EU. This is what you currently have...

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Clock ticking on the Annual Investment Allowance

22/10/2020

The Annual Investment Allowance (AIA) allows for a 100% tax deduction on qualifying expenditure on plant and machinery to be deducted from your profits before tax. The relief is normally capped at £200,000 per annum but was temporarily increased to £1 million for a 2-year period from 1 January 2019 to 31 December 2020. This means that...

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Distributions in anticipation of striking off rules

22/10/2020

The Extra Statutory Concession (ESC) - C16 was a well-used extra-statutory concession that allowed company directors to treat final distributions as a capital disposal and close down their business in an efficient manner. ESC C16 was withdrawn in March 2012 and replaced by s1030A Corporation Tax Act 2010 (CTA 2010) provisions. This move...

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Contact us

Email: advice@ashdownhurrey.co.uk

Hastings Office
Tel: 01424 720222
Fax: 01424 720888

Bexhill-on-Sea Office
Tel: 01424 730300
Fax: 01424 730086

We offer free initial consultations - to arrange a meeting or to have a chat over the telephone, please contact us.

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