HINTS AND TIPS

The latest hints and tips from our blog

Please note: The information contained in this site is provided for information purposes only and is of a general nature. It is not a substitute for specific professional advice related to your own circumstances. You are recommended to obtain specific professional advice before you take any action.

Strategies for exports after Brexit

Strategies for exports after Brexit

Reaching international markets in 2021 and beyond. The UK has left the EU, and for British exporters, that presents both opportunity and uncertainty. There’s potential for businesses to branch out to new markets outside of the EU, but that comes with a new set of...

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Construction sector: Reverse charge VAT

Construction sector: Reverse charge VAT

The effects on supply chains from 1 March 2021. 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...

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Caseron Insider – January 2021

Caseron Insider – January 2021

Each month we bring you the latest tax and business updates with our Insider Newsletter. Take a look at this month's insights below, or download our Newsletter and read it at your leisure. Highlights Annual investment allowance remains at £1m until 2022 HMRC issues...

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Tax efficient ways to be generous this Christmas

Tax efficient ways to be generous this Christmas

Christmas is a time of generosity and festive frolick, however, it can also be a tax trap for the overly generous employer. Here are a few tips on how to avoid unwanted taxes. The Annual Christmas Party Everyone likes a good party Reasonable costs of entertaining...

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Gains on UK residential property

Gains on UK residential property

Reporting and paying within 30 days.  Earlier this year, a new rule requiring capital gains tax on UK residential property to be reported and paid to HMRC within 30 days kicked in. This ushered in another change to tax rules affecting residential property owners,...

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How to measure cashflow in your business

How to measure cashflow in your business

Planning ahead to boost your business’s resilience. During what would normally be the busiest period of the year for businesses in retail, hospitality and other sectors, many will now be keeping a close eye on their cashflow as they deal with the impacts of COVID-19....

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Caseron Insider – December 2020

Caseron Insider – December 2020

Each month we bring you the latest tax and business updates with our Insider Newsletter. Take a look at this month's insights below, or download our Newsletter and read it at your leisure. Highlights VAT-registered traders urged to prepare for life after Brexit...

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Spending Review 2020: The economic damage of COVID-19

Spending Review 2020: The economic damage of COVID-19

Chancellor declares “economic emergency”. Had everything gone to plan this year, the Chancellor would have been delivering his Autumn Budget speech. Instead, Rishi Sunak declared an “economic emergency” alongside a slimmed-down spending plan to see him through until...

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To flip or not to flip your main residence

To flip or not to flip your main residence

The pros and cons of changing your main residence. With property being one of the most reliable investments around in a period of historic low-interest, many money-savvy people these days end up owning additional properties. They might rent them out, live in them or...

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Business asset disposal relief

Business asset disposal relief

Entrepreneurs’ relief is no more (in name at least). Last March, one of the headline-grabbing measures announced in what will be the only Budget speech of 2020 surrounded what we knew as entrepreneurs’ relief. The relief was designed to be an incentive for...

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Caseron Insider – November 2020

Caseron Insider – November 2020

Each month we bring you the latest tax and business updates with our Insider Newsletter. Take a look at this month's insights below, or download our Newsletter and read it at your leisure. Highlights Govt. extends Furlough scheme ahead of lockdown in England Third...

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Finance cost relief for residential lets

Finance cost relief for residential lets

Life after mortgage interest relief for landlords. Historically, landlords have enjoyed generous income and capital gains tax reliefs which helped make residential property an attractive investment for those looking to add to their monthly incomes or provide for...

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Taxes to consider when moving home

Taxes to consider when moving home

A property tax shake-up fuels a house buying surge. If you are considering moving home in the second half of 2020/21, you are by no means alone. In the month leading up to 8 August 2020, 149,000 properties were put on the market – the highest number since before the...

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Caseron Insider – October 2020

Caseron Insider – October 2020

Each month we bring you the latest tax and business updates with our Insider Newsletter. Take a look at this month's insights below, or download our Newsletter and read it at your leisure. Highlights Commission set to recommend national living wage freeze Chancellor...

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Chancellor throws new jobs lifeline to save the UK economy

Chancellor throws new jobs lifeline to save the UK economy

Emergency jobs package to replace furlough scheme. With the furlough scheme winding down and local lockdowns on the increase to try and curb the rising tide of coronavirus, it was almost inevitable the Chancellor would have to step in again. On 24 September 2020,...

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Valuing a Business? How much could yours be worth?

Valuing a Business? How much could yours be worth?

Four main methods for valuing a business. Whether you’re making exit plans or you want to give confidence to investors, knowing the value of your business is a vital step. From the inside, it might be hard to say what that value is. You’ve put long hours of hard work...

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Getting on top of your self-assessment tax return

Getting on top of your self-assessment tax return

Why 2019/20 is the year to get your self-assessment tax return done early With everything that’s happened so far this year, it might be easy to forget your obligations to file a tax return for 2019/20 by midnight on 31 January 2021. The coronavirus pandemic and...

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7 Tips for keeping great VAT records

7 Tips for keeping great VAT records

Our top tips for keeping good VAT records Good housekeeping in the 'financial' sense is essential for keeping on top of your bookkeeping and VAT records. 1. Keeping trading records in good order Not only must you keep the records HMRC wants, but they must be ordered...

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Caseron Insider – September 2020

Caseron Insider – September 2020

Each month we bring you the latest tax and business updates with our Insider Newsletter. Take a look at this month's insights below, or download our Newsletter and read it at your leisure. Highlights Video-witnessed wills become legal in England and Wales Businesses...

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Business tax planning in 2020/21

Business tax planning in 2020/21

Managing and planning business tax during COVID-19. Even among those who follow good tax-planning practice and maintain forecasts running several years forward, it is unlikely that many foresaw the dramatic end to the 2019/20 tax year. With the arrival of COVID-19 and...

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Post-COVID-19 support for businesses

Post-COVID-19 support for businesses

New measures announced in economic update. Since the Budget in March, businesses have seen a stream of different support schemes and policies announced to help them manage the financial impacts of the coronavirus lockdown. When Chancellor Rishi Sunak stood in the...

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Turn Profit Into A Habit Not An Annual Event

Turn Profit Into A Habit Not An Annual Event

You should not have to wait for your annual accounts to be prepared before you know whether or not you have made a profit. What you need to do is implement the three Pillars of Profit to embed profit into your daily activities. We’ll show you how!

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Caseron Insider – August 2020

Caseron Insider – August 2020

Each month we bring you the latest tax and business updates with our Insider Newsletter. Take a look at this month's insights below, or download our Newsletter and read it at your leisure. Highlights Capital gains tax under review as Treasury considers overhaul...

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Caseron Insider – July 2020

Caseron Insider – July 2020

Each month we bring you the latest tax and business updates with our Insider Newsletter. Take a look at this month's insights below, or download our Newsletter and read it at your leisure. Highlights UK economy slumps into recession after record contraction in April...

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HMRC resumes investigations after COVID-19

HMRC resumes investigations after COVID-19

What to expect from tax probes in 2020/21. After temporarily pausing tax investigations as COVID-19 business support measures rolled out earlier this year, HMRC has restarted probes into businesses and individuals’ tax affairs. The Revenue has also started to direct...

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Passing on wealth to the next generation

Passing on wealth to the next generation

How to pass on wealth to the next generation. There are many ways to reduce or eliminate the inheritance tax payable on your estate without using trusts.  But for some, especially if you are very wealthy, they may not be enough. For others, the control that trusts...

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Caseron Insider – June 2020

Caseron Insider – June 2020

Each month we bring you the latest tax and business updates with our Insider Newsletter. Take a look at this month's insights below, or download our Newsletter and read it at your leisure. Highlights Relief as Sunak extends furlough scheme until the end of October...

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Planning for redundancies in 2020

Planning for redundancies in 2020

With redundancies on the rise due to the coronavirus, is it time you understood how termination payments work in 2020? Beyond the human tragedy of COVID-19 is an economic one. Swathes of the UK economy have been flatlining and a rising redundancies rate is inevitable...

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Capital goods scheme for VAT

Capital goods scheme for VAT

How it works and interacts with capital allowances. The VAT capital goods scheme affects input VAT recovery relating to high-value capital assets. Input VAT is a tax incurred on most purchases made by VAT-registered firms, and they can usually reclaim it from HMRC in...

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Coronavirus Job Retention Scheme

Coronavirus Job Retention Scheme

As part of changes to the Coronavirus Job Retention Scheme (CJRS), HMRC have outlined some important dates that may impact you in the coming weeks if you have furloughed or plan to furlough staff.

The scheme will close to anyone who hasn’t been furloughed for 3 weeks by 30 June, so you will only be able to claim for employees after that if they have been furloughed for a full three-week period at any time before the end of June.

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Discretionary Grant Fund

Discretionary Grant Fund

The national Discretionary Grant Fund, which is being administered by local authorities, is now open for local applications from businesses and charities who meet the Government’s criteria. The fund has been set up by the Government to accommodate certain small...

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Is your business built for profit?

Is your business built for profit?

Is your business built for profit? Does it generate repeatable, sustainable and generous profit? Profits that you are happy with and allow you to take home the level of pay that you want? Or is it more of a profit dribble? ​​ Take the Profit Hacker Quiz: How many of...

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Inheritance tax planning in 2020/21

Inheritance tax planning in 2020/21

What to consider during the COVID-19 lockdown. Coronavirus has many people reflecting on their own mortality. So if you have more time on your hands during the lockdown, planning your estate may be a wise way to spend it. Benjamin Franklin observed there are only two...

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Building a business that can afford to pay you

Building a business that can afford to pay you

One of the most stressful and overwhelming challenges of running and building a business - is making sure YOU get paid. When you are working flat out and there is not enough money in your business to pay you - it's enormously stressful, frustrating and demotivating....

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Working from home during COVID19

Working from home during COVID19

Can employees reclaim any expenses whilst working from home? On Monday 16 March 2020, Prime Minister Boris Johnson told the public to work from home where possible in an attempt to contain the ongoing coronavirus outbreak in the UK. For more than 1.7 million people it...

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Caseron Insider – May 2020

Caseron Insider – May 2020

Each month we bring you the latest tax and business updates with our Insider Newsletter. Take a look at this month's insights below, or download our Newsletter and read it at your leisure. Highlights Tax group demands VAT simplification of food and drink rules...

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Coronavirus support for businesses

Coronavirus support for businesses

Options to limit the financial damage of Coronavirus It’s hard to believe that Rishi Sunak has only been the Chancellor since Valentine’s Day, given what he’s had to deal within a matter of weeks since. On the back of delivering a Spring Budget, Sunak has revealed an...

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Personal tax changes for 2020/2021

Personal tax changes for 2020/2021

What you need to know for the tax year. The Government left it to the very last minute to announce its tax plans for 2020/21. Fortunately, Chancellor Rishi Sunak had few surprises up his sleeve in last month’s Spring Budget. Three of the main taxes in the UK – income...

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Caseron Insider – April 2020

Caseron Insider – April 2020

Each month we bring you the latest tax and business updates with our Insider Newsletter. Take a look at this month's insights below, or download our Newsletter and read it at your leisure. Highlights COVID-19 postpones off-payroll extension to the private sector...

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HMRC’s approach to taxing cryptocurrencies

HMRC’s approach to taxing cryptocurrencies

HMRC updates tax guidance for Cryptocurrencies. Since the launch of Bitcoin in 2009, cryptocurrencies have grown steadily into the public consciousness, and the taxman’s too. Once the realm of geeks and hackers, cryptocurrencies are becoming more mainstream. In late...

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The Spring Budget 2020

The Spring Budget 2020

Biggest spending spree in 28 years “Getting it done” is the soundbite Chancellor Rishi Sunak clearly wanted us to take away from his debut Budget speech, but “giving it away” might be more accurate. The Government's substantial majority gave Sunak carte blanche to...

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Employer issues with automatic enrolment

Employer issues with automatic enrolment

Automatic Enrolment - Policy success, but a headache for employers? Back in 2012, less than half of private-sector employees in the UK had a pension scheme. Today, however, that figure is 85% and this huge increase is due to the successful rollout of automatic...

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Caseron Insider – March 2020

Caseron Insider – March 2020

Each month we bring you the latest tax and business updates with our Insider Newsletter. Take a look at this month's insights below, or download our Newsletter and read it at your leisure. Highlights Record numbers sent in 2018/2019 tax returns through self-assessment...

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Tracing lost pension plans

Tracing lost pension plans

Billions of pounds lost in unclaimed funds due to lost Pension plans. Helping you plan for your retirement is one of our core services, ensuring you are prepared when the time comes to call it a day. With medical advances enabling more people to live for longer, the...

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Tax implications of providing a company car to employees

Tax implications of providing a company car to employees

Does it pay off to provide a zero-emission company car? Offering a company car as a benefit can be a valuable and attractive perk to any valued employee. Unfortunately, it is not necessarily a tax-free perk and it may be liable for PAYE because HMRC considers the...

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Caseron Insider – February 2020

Caseron Insider – February 2020

Each month we bring you the latest tax and business updates with our Insider Newsletter. Take a look at this month's insights below, or download our Newsletter and read it at your leisure. Highlights Thousands file tax returns through self-assessment over Christmas...

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Different types of business structure

Different types of business structure

You’ve got a business idea, you’ve got the skills, the concept, the motivation and maybe even someone that’s keen to pay for your services, but where do you start? What will you call your business? What business structure will suit it best? It may be that as your...

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R&D tax credits in practice

R&D tax credits in practice

R&D Tax breaks for innovative business. The UK tax system is complicated but research and development (R&D) tax credits can be especially tricky to understand. That’s partly because what counts as R&D, and what amounts to true innovation, is judged on a...

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