Jan 2021 – R&D Tax Credits, could your business make a claim

Research and development (R&D) tax credits are a valuable source of funding that helps UK businesses fuel their growth. With large sums of money at stake, there are numerous organisations that may contact you regarding R&D tax credits, however, Clarke Nicklin can take care of ...
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Jan 2021 – Buying/Leasing a Commercial Vehicle

Is it a car or van? Buying or leasing a commercial vehicle (e.g. a van) attracts more generous tax deductions for the business than acquiring a car. The vehicle’s driver will also pay far less tax if he is driving a company van rather than ...
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Jan 2021 – Tax Debt

Tax debt In addition to the various coronavirus business loan schemes, the government has allowed businesses to build up tax debt. Payment of the VAT due in the period March 20 to June 30 could be postponed until 31 March 2021. Unincorporated businesses and individuals ...
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Jan 2021 – UK Businesses Win Right to Insurance Payouts for Covid losses.

Hundreds of thousands of small businesses could be in line for insurance payouts covering coronavirus-related disruption following a landmark Supreme Court decision last week. Under the ruling, more policyholders will now have valid claims against insurers for disruption they've faced due to the pandemic. The Supreme ...
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Jan 2021 – Furlough, Have you Claimed the right amount

At Clarke Nicklin we have been assisting our clients with the furlough scheme since it went live in April 2020. The job retention scheme involved a lot of calculations and wasn’t always the most straightforward of things as most if you will know. The HMRC ...
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Jan 2021 – Brexit – What we now know

The EU and the UK have finally signed a Trade Deal Agreement This has an impact on UK imports and exports and how VAT will be charged going forward. This could affect the way you do business. Please ensure you are up to date with new ...
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Dec 2020 – 2021 Budget, Are You Prepared?

The Chancellor has announced that the next Budget will be in March 2021. Speculation about tax increases centre on capital gains tax, however income and inheritance tax could also be on his list for reform or increases. Higher rate pension tax relief looks like it ...
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Dec 2020 – Reduced VAT Rate for Hospitality

Reduced VAT Rate for Hospitality The government has provided a boost to the hospitality sector by reducing the amount of VAT they have to pay over to HMRC on most sales made between 15 July 2020 and 31 March 2021 inclusive. The VAT rate for ...
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Dec 2020 – Brexit – The End of Transition is Nigh

Brexit - The End of Transition is Nigh The UK left the EU on 31 January 2020 but all trading arrangements, including VAT, are held in suspension until the end of the transition period on 31 December 2020. Whatever deal is finally agreed between the ...
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Dec 2020 – VAT on Cancellation Fees

Following the COVID-19 shutdown, many businesses are reviewing their overhead costs, such as rent, power, security and IT systems. If you want to cancel a contract for one of those services before the termination date, the supplier may charge you a cancellation or early termination ...
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Nov 2020 – Clarke Nicklin Gearing Up for Electric Cars

CLARKE NICKLIN GEARING UP FOR ELECTRIC CARS This week the prime minister announced a ban on the sale of new petrol and diesel cars and vans from 2030, but some hybrids would still be permitted. This is all leading to a ‘green industrial revolution’ to ...
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Nov 2020 – Preparing for Brexit

Its a matter of weeks until we leave the EU, Brexit transition time is running out – Make sure you and your business are ready! The actions people and business owners need to take vary based on their circumstances. They include: Making sure you are ...
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