JDA Tax & Accountancy Services Ltd

IS THE ANNUAL CHRISTMAS PARTY A DEDUCTIBLE EXPENSE?

HMRC provides tax relief for 'annual events'. That includes holiday parties, as long as they meet the following criteria:

THE PARTY MUST INCLUDE ALL EMPLOYEES. Management only soirees are not covered by the exemption. All staff members must be invited to attend the gathering in order for it to qualify.

THE COST OF THE EVENT DOESN'T EXCEED £150 PER ATTENDEE

THE PARTY MUST BE AN ANNUAL FUNCTION. A Christmas party qualifies, as would a yearly summer picnic. But one-off events like a celebration for a record sales year would not be tax deductible.

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Our Team of Brighton based Ex-HMRC Tax Inspectors can help you register with the Tax Office, National Insurance and VAT with the minimum of fuss and advise you on all the allowances and deductions you can claim
We will also show you how to keep your books and records and guide you through those early months

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JDA Tax & Accountancy Services

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VAT Reverse Charge for Construction Services

The VAT domestic reverse charge for construction services started on 1 March 2021. Its’s a major change to the way VAT is collected in the construction industry

It will affect you if both the supplier and recipient of Construction Industry Services are VAT registered. Please contact me if you think you may be affected.

Recovery Loan Scheme

Ensures business of any size can continue to access loans and other finance up to £10m with 80% government guarantee

New scheme that replaces the Bounce back loan scheme and the Coronavirus Business Interruption Loan Scheme (CBILS)

Recovery Loan Scheme The Recovery Loan Scheme supports access to finance for UK businesses as they grow and recover from the disruption of the COVID-19 pandemic.

Would you like an employee for 6 months all salaries NI and pension payments paid for by the Government? Search Kickstart Scheme Grant for Employers or Contact Sandra Murphy at Business Doctors for more information

Kickstart Scheme The Kickstart Scheme provides funding to employers to create jobs for 16 to 24 year olds on Universal Credit.

The Community Ownership Fund – help for community groups to buy or take over local community assets at risk of being lost.

Community groups can bid for up to £250,000 matched funding to help them buy endangered sports clubs, theatres, music venues and Post office buildings that have been hard hit by the pandemic.

VAT reduction in the Hospitality and Tourism Sectors

The current VAT reduction from 20% to 5% will be extended beyond 31st March cut-off until 30th September. From 1st October until 31st March 2022 a special rate of 12.5% will apply

Help to grow: Management and Digital

Two schemes aimed at boosting productivity, growth and innovation in UK SME’s over the next three years.

· Help to Grow: Management will provide management training and mentoring in a 12week course with 90% subsidy.

· Help to Grow: Digital will provide help with increasing productivity through digital transformation.

For more information and to register for both programmes, visit gov.uk/helptogrow.

Help to Grow The government’s new ‘Help to Grow’ scheme will help small businesses across the UK, learn new skills, reach new customers and boost profits.

Restart grants

Non-essential retail businesses can claim up to £6000. Businesses who have been locked down for longer ie, hospitality, accommodation, leisure, personal care and gyms, will be eligible for up to £18,000 per premises.

Business rates holiday will be extended in England for a further 3 months from April 2021