The Government has now confirmed that director-only limited companies can indeed qualify for furlough status. Directors, whose work has dried up, can only carry out work that is necessary to fulfil their statutory obligations, rather than their normal day-to-day work. If the company has ceased trading completely, which will be common place for many one-person […]
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Following the Prime Minister’s statement on Monday evening, we have made the decision to work from home for the next few weeks.
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Amid the crisis being caused by Covid-19, the Government has announced that the IR35 tax reforms are being pushed back by one year…
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A few months ago the then Chancellor Sajid Javid set Wednesday 11th March as the date for his first Budget and the first since the general election…
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Only a few weeks ago, we were reminding our clients to submit their self-assessment tax returns and the team at Lewis & Co was busy tying up any loose ends to make sure everyone hit the 31 January deadline. Now we find ourselves close to the end of yet another tax year. With that in […]
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Managing Director Gary Cornwell has been with Lewis & Co for over 16 years now, having originally visited for work experience while still at school. “Looking back, I was really lucky with how the team at Lewis & Co supported me during those two weeks, particularly the then Managing Director Barney Lewis,” says Gary. “I […]
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If between 6th April 2018 and 5th April 2019 you earned untaxed income, such as that from a rental property or from a self-employment, you will need to file a Self Assessment Tax Return with HMRC. The online Self Assessment Tax Return which you will be required to complete is due for submission to HMRC […]
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When someone mentions Santa and the season of goodwill, Her Majesty’s Revenue and Customs doesn’t naturally spring to mind. Just to prove us wrong however, every year HMRC allows businesses to spend up to £150 per employee on entertainment, completely tax free. Whether your business is large or small, this allowance means the festive fun […]
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1st October 2019 was set to see the introduction of a new VAT accounting process affecting the relationship between Contractors and Subcontractors within the Construction Industry Scheme. However, this has been pushed back until October 2020. What is the reverse charge? To summarise, the ‘reverse charge’ as it is known, means that the customer receiving […]
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How To Reduce Your July Tax Payment By Getting This Year’s Tax Return In Early A lot of clients would like their 2018/19 tax return completed this month in case it can help reduce their July tax payment. How does that work, I hear you ask? If you’re self-employed or run a business, you will […]
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