Monthly Archives: July 2021

The furlough cliff edge

Unless government has a change of heart the present furlough scheme will close 30 September 2021.

Businesses that have depended on this grant to hold teams together will – from 1 October – need to decide if business activity has increased sufficiently to maintain their workforces at current levels or consider redundancy options.

Planning is an obvious...

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Government acknowledges HGV driver shortage

In an open letter to the UK logistics sector, the Government has announced an urgent initiative to resolve the mounting shortage of lorry drivers in the UK.

Following Brexit and the COVID-19 pandemic, thousands of EU nationals – who make up a significant proportion of workers in the UK logistics industry – are having to return...

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Time to check Minimum Wage Rates?

HM Revenue and Customs (HMRC) has issued a statement urging students and other summer workers to check that they are being paid the correct National Minimum Wage (NMW) rates.

In the 2020/21 tax year, HMRC helped over 150,000 workers across the UK to recover over £16 million remuneration that was due to them because incorrect NMW...

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Claiming for work-related expenses

The tax office is now open for claims from employees that have incurred work-related costs for the year to 5 April 2021 and have not been – and will not be – reimbursed by their employers.

How to make a claim – the DIY approach

You can claim online, by post or by phone.

This will involve completing...

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Is inflation something to be concerned about?

Inflation is a measure of how much the value of currency depreciates each year. For example, if prices for a loaf of bread rise by 3% in a year, you would have to earn that extra 3% to continue to purchase bread, so your extra earnings would have no extra value.

According to the Bank of...

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Is July 19th freedom-day?

Next week, many of the present lockdown regulations in England are being relaxed. But cautionary guidance has also been published. It recommends:

  1. Meeting in well-ventilated areas where possible, such as outdoors or indoors with windows open.
  2. Wearing a face covering where you meet people you do not normally meet in enclosed and crowded spaces.
  3. Washing your hands with...
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Business rates overall for England

One of the largest fixed costs associated with business premises are rates payments to local authorities.

The present system for reviewing rates in England is somewhat antiquated, the last review in England was 2017.

The government had previously undertaken to move to more frequent revaluations, having introduced legislation to bring forward the next revaluations to 2021 -...

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Furlough support changed 1 July 2021

Employers will need to start contributing to work not done by furloughed employees from 1 July 2021.

The update from HMRC is reproduced below:

From 1 July 2021, the level of grant will be reduced, and you will be asked to contribute towards the cost of your furloughed employees’ wages. To be eligible for the grant you...

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Tax Diary July/August 2021

1 July 2021 - Due date for Corporation Tax due for the year ended 30 September 2020.

6 July 2021 - Complete and submit forms P11D return of benefits and expenses and P11D(b) return of Class 1A NICs.

19 July 2021 - Pay Class 1A NICs (by the 22 July 2021 if paid electronically).

19 July 2021 -...

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Taking goods abroad to sell?

You must declare goods that you take with you to sell outside the UK - for example if they are in your baggage or in a private vehicle.

There is a different process if you take goods abroad temporarily (for example samples for a trade fair) or use a courier or freight forwarder.

Most countries have a...

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