by admin | Jul 4, 2022 | 2021, May, CK Newsletter
‘Bold and unprecedented’. That was the Chancellor’s description of the new 130% super deduction for expenditure on new qualifying plant and machinery announced in the Budget. The headlines were that for every pound invested, tax is cut by up to 25p....
by admin | Jul 4, 2022 | 2021, May, CK Newsletter
Personal taxes, capital taxes, pensions. No dramatic announcements. But Chancellors can create considerable change through low-key tactics, and the Budget freeze for various rates and allowances until 5 April 2026 will impact many people. Personal tax Initially, the...
by admin | Jul 4, 2022 | 2021, May, CK Newsletter
Furnished holiday lettings (FHLs) have their own tax treatment, reliant on a set of strict day-count rules. With the impact of Covid-19 on occupancy, business owners may need to take stock of the position. A property must pass all three tests: pattern of occupation...
by admin | Jul 4, 2022 | 2021, May, CK Newsletter
Budget 2021 announced a successor loan scheme to support UK business recovery. Earlier Covid-19 loans, like the Bounce Back loan, closed to applications on 31 March 2021. The new Recovery Loan Scheme (RLS) launched on 6 April 2021 and runs to 31 December 2021, subject...
by admin | Jul 4, 2022 | 2021, May, CK Newsletter
Like the extension to the Stamp Duty Land Tax holiday to 30 June 2021 in England and Northern Ireland; the similar announcement in Wales, and absence of one in Scotland, some changes make headlines. But others escape the media spotlight. Capital gains tax (CGT) 30-day...
by admin | Jul 4, 2022 | October, 2021, CK Newsletter
Welcome news for previously profitable businesses struggling with Covid-19 losses. The Budget announced a temporary extension to the period over which a business can carry back trading losses. This means relief can be carried back to the three previous years, rather...
