Latest News
Updates from the Clayton & Brewill team.
Ending of Furlough: what you need to know
As of March 2020, workers placed on furlough have been able to receive 80% of their pay, up to a maximum of £2,500 a month, through the Coronavirus Jobs Retention Scheme. Since then, almost 10 million workers who were unable to do their job because of the coronavirus outbreak have had their wages paid by the… View Article
The benefits of tax investigations protection
The cost of defending yourself against a HMRC investigation is potentially huge; even when the outcome of the enquiry results in no adjustments to your tax position, defence fees can be just as costly. It is therefore a more important time than ever to having tax investigations insurance in place, as Clayton & Brewill explains…. View Article
Making Tax Digital extended to SMEs
The government has confirmed that all VAT registered businesses will have to comply with Making Tax Digital (MTD) from 1 April 2022, with MTD for income tax delayed until 6 April 2023. Here, Nottingham chartered accountants Clayton & Brewill provides an update on the recent extensions. Businesses below the threshold In line with the government’s… View Article
Working from home: what are my tax obligations as an employer?
As we adjust to a more socially distanced post-lockdown world, figures indicate that many UK businesses – having seen the benefits of flexible, remote working – are now opting to ditch the office building and make home set-ups a more permanent arrangement. But the upsurge in homeworking brings certain tax obligations that employers need to… View Article
The summer economic update: what we learned from the July mini-Budget
In the summer economic update, Rishi Sunak has unveiled a raft of measures designed to boost the UK economy following the impact of COVID-19. Here, Nottingham chartered accountants Clayton & Brewill provides an overview of what was announced in the chancellor’s mini-Budget. Job Retention Bonus: the future of the furlough scheme We have already seen… View Article
Summer update: furlough changes, SEISS claims, VAT deferral refunds
The Clayton & Brewill Summer update is now available to view online. Summer is now on our doorsteps, and what a strange few months it’s been since our Spring update! After what seems like an eternity spent on lockdown, and following a very busy period of remote working, Clayton & Brewill is pleased to announce… View Article
Domestic reverse VAT charge for construction on hold until 2021
The introduction of reverse charge VAT on construction services, which has already been pushed back to 1 October 2020, will now be introduced on 1 March 2021. The antifraud measure aims to eliminate the risk of a fraudulent supplier invoicing for work that it has allegedly supplied together with VAT, which it then fails to… View Article
Refunds for missed VAT deferral payments can now be claimed
Taxpayers who wanted to defer VAT payments due between 20 March 2020 and 30 June 2020, but did not manage to cancel their Direct Debit in time can claim a refund, HMRC has confirmed. According to HMRC, the quickest way for a claim to be processed is if taxpayers submit a Direct Debit Indemnity Claim to their… View Article
Entrepreneurs’ Relief: a new name and a lower lifetime limit
Despite worries it may be scrapped altogether, Entrepreneurs’ Relief (ER) lives on in 2020, but with a new name – Business Asset Disposal Relief – and a new, lower lifetime limit, as Nottingham chartered accountants Clayton & Brewill explains. What is Entrepreneurs’ Relief (ER)? ER is a capital gains tax (CGT) relief available not just to company… View Article
The Clayton & Brewill office has reopened
Clayton & Brewill is pleased to announce that our office has now reopened. We are following social distancing measures to ensure we keep our team and clients as safe as possible. The reopening of our office follows a very busy period of remote working following lockdown. Since March, Clayton & Brewill has been assisting businesses… View Article