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Child Benefit for 16 year olds

Child Benefit 16 year olds

The deadline to update Child benefit for 16 year olds is the 31st August 2021. Parents/carers should confirm to HMRC whether their teenagers are staying in full-time education beyond 16. Now GCSE results are know and teenagers are now considering their future it’s time to notify HMRC to determine if parents/carers are still eligible for … Read more

Tax free earnings for teenagers

Tax cap for teenagers

The tax free earnings for teenagers has been capped at £1000. Therefore young people need to be aware they may have to declare income and pay NI contributions on summer jobs. Tax and advisory firm Blick Rothenberg is warning teenagers to make sure they stay within the tax-free limit to avoid incurring an unwanted tax … Read more

Penalty Suspension Ended

Companies House Filing Penalties

Penalty suspension for late filed accounts has ended. UK registered private companies, public companies, and limited liability partnerships (LLP) will once again be given an automatic penalty when they file their accounts later than the deadline. Over the last 18 months, Companies House has introduced multiple measures to help businesses file their accounts including developing … Read more

Fifth SEISS Grant Portal Open

5th SEISS Grant

The fifth SEISS grant can be claimed if you think that your business profit will be impacted by coronavirus between 1 May 2021 and 30 September 2021. The online application portal is now open! The application process for the fifth SEISS grant will depend on details of two years of turnover and losses resulting from the … Read more

Furlough Scheme Changed

Furloug Scheme Changed 1st July 2021

The Government contribution towards the furlough scheme changed as of the 1st July 2021. From 1st July, the level of grant reduced with employers now contributing towards the cost of furloughed employees’ wages. To remain eligible furloughed employees must still be paid 80% of their wages (up to a cap of £2,500) for the time … Read more

Starting a Business

Starting a business

The AJR guide to getting it right! Your Limited Company has been formed what next? When starting a business there are lots of important decisions to make, an accountant that you can rely on is just one of them. With this in mind we have put together a short checklist to help, although different businesses … Read more

5th SEISS Grant

5th SEISS Grant

HMRC has confirmed that the 5th SEISS (Self Employment Income Support Scheme) grant will be available from the end of July. This will cover the period May to September. The grant is taxable and will be paid out in a single instalment. Guidance for claiming the grant will be available by the end of June … Read more

Personal Affairs Checklist

Personal Affairs Checklist

What is the Personal Affairs Checklist? The Personal Affairs Checklist (PAC) is a document produced to help you keep a concise record of your personal affairs and papers. Investing a little time now to complete the PAC could save your spouse, partner, relatives or friends a great deal of time and expense in the future. … Read more

Extended Loss Carry Back

Extended Loss Carry Back

The Extended Loss Carry Back measure announced at Budget 2021 allows businesses to make claims to carry back losses for a further two years than current rules allow. This temporary extension applies for losses in accounting periods ending between 1 A‌pr‌il 2020 and 31 M‌ar‌c‌h 20‌‌‌22.  Claims over £200,000 must be made in a company tax … Read more

Tax Debt Collection

Debt Collection

Tax debt collection as the UK emerges from Covid-19 Protecting livelihoods and keeping people in work remains the government’s priority. As it has been throughout the pandemic. HMRC has been central to delivering on this by pausing many debt collection activities and delivering support packages including Coronavirus Job Retention Scheme and Self Employment Income Support Scheme. … Read more