In connection with the developing situation around the coronavirus infection, we inform You about the planned financial support for business from the government.
The Chancellor has set out a package of temporary measures to support public services, people and businesses during this period of suspension caused by COVID-19.
The state business support Program includes the following measures:
The coronavirus job retention scheme, under which HMRC reimburses 80% of the salary costs of employees on leave. Amount limit up to 2500 pounds per month;Deferred VAT and income tax payments until June 2020;Legislative package of sick leave assistance for small and medium-sized businesses;12-month business …
Decrease your Inheritance Tax bill with Home Transfer.
Most gifts made during a person’s life are not subject to tax at the time of the gift. These lifetime transfers are known as ‘potentially exempt transfers’ or ‘PETs’. The gifts or transfers achieve their potential of becoming exempt from Inheritance Tax if the taxpayer survives for more than seven years after making the gift. There is a tapered relief available if the donor dies between three and seven years after the gift is made.
The rules are different if the person making the gift retains some ‘enjoyment’ of the gift made. This …
If your employees are using their own vehicles at work, they could benefit from a tax-free allowance.
Employees who use their own car at work can under certain circumstances be paid a tax-free allowance by their employers when using their own car, van, motorcycle or bike for work purposes. This is known either as Mileage Allowance Relief or a Mileage Allowance Payment. It is important to note that this tax-free allowance, does not include journeys to and from work but is relevant to employees who use their own vehicles to do other business-related mileage.
Employers usually make payments based on a …