Changes in IR35 rules from 2021 will mean employees, but through their own Personal Service Company (PSC), pay the same Income Tax and National Insurance contributions as other employees. From April 2021, businesses will have the responsibility of deciding whether the employment taxes and National Insurance contributions should be deducted.

HMRC have introduced a restriction for the amount of R&D tax credit received by SMEs in a year. Effective from 1 April 2021, the cap is set at £20,000 plus three times the company’s total PAYE and NIC liability for SMEs claiming R&D tax credits.

HMRC have began issuing “nudge letters” to UK residents with a financial connection to Italy and potential tax liabilities on overseas income or gains, prompting them to make a disclosure under the Worldwide Disclosure Facility (WDF).

London-based accountancy firm Jeffreys Henry has attracted significant growth investment from Tenzing, an award-winning private equity fund. Jeffreys Henry is Tenzing’s first investment in regulated professional services, and the 2nd investment in their flagship £400m Fund II.

Jeffreys Henry LLP, the award-winning provider of audit, tax and advisory services to LSE, AIM and Aquis listed companies, has advised Vector Capital Plc on its […]

HMRC collected £34 million in penalties in September 2020, an increase of 62% from a low of £21m in May, after resuming tax investigations. After temporarily […]

Jeffreys Henry LLP, the award-winning provider of audit, tax and advisory services to LSE, AIM and Aquis listed companies, has advised Intuitive Investments Group on its […]

The latest in our series of quick-fire client interviews, Jeffreys Henry LLP speaks to Hannah Vernon of Urban Leisure Group. Hannah discusses how the second lockdown and tier restrictions impacted ULG’s performance, how government guidance for the hospitality industry has been unclear and the ways in which ULG have adapted their business model to the changing times.

Following the recent Wickford Developments decision, any property developer who has been refused VAT refunds on installing manual roller blinds into new homes should review the VAT lost in the past 4 years with a view to making a claim from HMRC. This decision follows that of an earlier case that HMRC chose to ignore (John Price) and HMRC were criticised for continuing with a policy that the courts had disagreed with.

Jeffreys Henry LLP, the award-winning provider of audit, tax and advisory services to LSE, AIM and Aquis listed companies, has recently advised Anemoi International (“AMOI”) on its IPO on the Standard Segment of LSE’s main market.