VAT tips, grant updates and more
VAT, Compensation and Early Termination Fees In 2020, HMRC revised their guidance and ruled that income received from early contract termination, cancellation fees, liquidated damages and compensation would be regarded as consideration for a taxable supply. At the time, HMRC advised that the change would have retrospective effect. Following pressure from affected parties, HMRC announced […]
Budget 2021
Included in our guide to the Spring Budget 2021, you will find a calendar of the tax year with important deadline dates shown. We have outlined the significant points of interest below. However, we would recommend downloading our guide for a more detailed breakdown of the changes and what to expect. Measures to mitigate the impact of […]
Make claiming R&D tax credits in 2021 your New Year’s resolution
It is unclear how demand will recover and cash will be tight for many clients for the next 6-8 months or more. It is therefore essential to ensure cash reserves are conserved and now is the opportune time to review whether you are eligible for Research and Development (R&D) relief. R&D tax credits are often […]
Some welcome news
The Government has recognised that uncertainty arising from Covid and Brexit mean that, in many cases, businesses have been unable, or unwilling, to commit to the level of investment needed to take advantage of the £1 million allowance before 1 January 2021. It is hoped that the extension will stimulate investment by UK businesses. The impact […]
Tax efficient company cars
Normally, we do not recommend company cars because the P11D benefit can give rise to substantial tax charges for the employee and the company. However, the position for very low emission cars is different. For 2020/21, there is no P11D benefit on an electric car with zero CO2 emissions. The P11D benefit in 2021/22 on […]
National Payroll Week
Outsourcing your payroll is a solution to improve efficiency and accuracy, ensure sensitive data is protected and prevent any potential penalties from HM Revenue & Customs or The Pensions Regulator for non-compliance. We provide a full secure payroll bureau service by qualified professionals, so if you would like to discuss outsourcing your payroll in the […]
Despite fast approaching deadline SMEs underprepared for major tax changes
Kilsby Williams, which provides market leading tax advice, has noticed a surge in visitors to the advice page on their website and dealt with an increasing number of calls and emails. With changes due to come into force from 1 April, businesses only have a limited amount of time to ensure that they’re tax compliant […]
Kilsby Williams lands major ICC contract
Kilsby Williams won the contract to work on the landmark International Convention Centre Wales (ICC Wales) project through a competitive tender process and has worked closely with the development team throughout the construction phase. With capacity for more than 5,000 delegates, ICC Wales will be a game-changing venue for the country when it comes to […]
