The Government has delayed controversial reforms to apply the off payroll working rules to the private sector from 6 April 2020. They will now apply from 6 April 2021. This was announced in the Commons last night by Chief Secretary to the Treasury Steve Barclay.
We wanted to let you know that, as the Coronavirus situation escalates, the majority of our team are now working from home and will be for the foreseeable future. We are operating business as usual but will be making some adjustments in line with recommendations given.
We will temporarily suspend face to face meetings and will be offering phone/video meetings instead. All staff are available if you call the office. Where possible documentation should be sent electronically via OpenSpace, Snap (our smartphone receipt App) or email to avoid hard copies being brought into the office. This will avoid unnecessary journeys and keep you and our team as safe as possible.
We will be keeping up to date with the latest advice regarding health and safety and of course any changes which may affect your business. Our website will be updated with the latest news.
If you have any specific concerns regarding the current climate and your business, please do get in touch.
Urgent action is required if you are letting a property that you previously lived in as your main residence. Changes are coming into effect from 6 April 2020 that mean that letting relief of up to £40,000 (per owner) will be lost and the final 18 month period of tax free status is being reduced to 9 months. These changes could increase the tax bill when you come to sell the property by over £25,000. Action can be taken which will avoid this extra tax but you must act now as the deadline is 5 April 2020. Contact us immediately if you are in this situation.
The 2020 budget date is just one week away on Wednesday 11 March. Speculation and rumours abound as to what it will include. We will be keeping a close eye on how it unfolds and will be sending out our budget update to inform you of changes that might affect you. Please contact us, if you would like to receive the update.