Waltons blog

  ANNUAL INVESTMENT ALLOWANCE REMAINS AT £1M UNTIL 2022 A temporary increase to the annual investment allowance has been extended until 1 January 2022, the Treasury confirmed. The allowance enables firms to fully offset the cost of qualifying capital items of plant...

  How this affects your business will depend on several factors, including the nature of your business and where your customers are located. Data sharing with the EEA is one of the key areas to consider.   The Government has legislated so that UK firms can continue to...

  The UK-EU Trade and Cooperation Agreement ensures tht UK firms in a variety of service sectors can continue to access the EU market, including as business travellers and cross-border service suppliers or investors, while being treated no less favourably than either...

Introduction The UK and the EU agreed future trading terms of the UK-EU Trade and Cooperation Agreement. The UK has approved the agreement and it came into effect provisionally on 31 December 2020, whilst awaiting the EU to take steps to approve it. See the agreement...

THIRD NATIONAL LOCKDOWN We hope you are keeping safe and well. Don't forget ... we are with you all the way. With the UK in national lockdown, and like the first lockdown in March, we are unable to leave our homes except for certain reasons such as medical, food,...

The Annual Investment Allowance is often a valuable relief for businesses making capital purchases, affording a 100% write off on qualifying purchases against profits chargeable to Corporation Tax.   The AIA is currently set at a limit of £1,000,000 per year on...

  The Government recently asked theOffice of Tax Simplification (OTS)to perform a review of the currentCapital Gains Tax (CGT) rules and suggest some amendments tothe current regime. The OTS have prepared a 131 page document which they have described as a “framework...

Following the recent news headlines regarding the Government’s decision to bring forward the ban on the sale of Petrol and Diesel vehicles (hybrids will continue to be available) from 2035 to 2030 (just ten years away), companies and individuals will have to change...

HMRC have announced that for 2020/21 (only), even if you worked for home one day during the tax year, you can obtain tax relief for the whole year.

  Appendix 1: 30 Day CGT reporting and payment requirement: The new ‘UK property Reporting Service’ must be used where UK residential property is disposed of after 6 April 2020. This appendix is designed to set out a guide on the practical reporting process of this...

Added 16 September 2020 Early experimental data on the impact of the coronavirus (COVID-19) on the UK economy and society show that: - Over half (54%) of businesses that had not permanently ceased trading said they were owed outstanding invoice payments as a result of...

Added 16 September 2020 Brexit is in the news daily and as we watch the negotiations unfold and the political "twists and turns" happening it is important to note the transitional UK EU arrangements ends regardless of a "deal or no deal" on 31 December. The Government...