Waltons blog

    IR35 Off-Payroll Working … Changes from 6 April 2021   IR35 changes, originally due to come in last year but delayed because of the Covid-19 pandemic, will take effect from 6 April 2021.  This will alter the rules for engaging individuals through personal service...

  BREXIT NEWS   The UK and the EU Continue to discuss the recent problems surrounding the implementation of the new trading rules for Northern Ireland.  Whilst both parties declare their commitment to the Northern Ireland Protocol (NIP), it is clear the confusion at...

Construction sector: Reverse charge VAT Those working in the UK’s construction industry will have to handle and pay VAT differently from 1 March 2021, unless there’s another last-minute Government U-turn. This is when the VAT domestic reverse charge for building and...

  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.