We're all about communication at Barnes Roffe, especially when it comes to our clients and contacts: existing or potential. For this reason we have set up our 'Blog Spot'. To help you to get to know our team, recognise our motivations and more importantly feel confident in the strategies we promote.We post here regularly, to help give you the insight and understanding you need to take every market change in your stride.
November 30, 2020
Can you afford to retire if you’re self-employed?
New research shows the majority of the self-employed are not saving for retirement.
November 27, 2020
Spending Review – 25 November 2020
HIGHLIGHTS No tax announcements, although the Chancellor noted that “we have a responsibility … to return to a sustainable fiscal position”. Government borrowing projected to be £394 billion in 2020/21 before stabilising at around £100 billion from 2023/24 onwards. Total debt to remain over 100% of GDP.
November 23, 2020
Employees can now claim tax relief for working from home
HMRC has launched an online portal to help taxpayers claim tax relief for working from home during the pandemic. From 6 April 2020, employees can claim a tax-free amount of £6 a week to cover the additional costs of working from home. For a basic rate taxpayer, this works out to tax relief of £62.
November 17, 2020
Boost for self-employed support in extended grants
Two further grants under the self-employed income support scheme (SEISS) were announced in September and have now been updated following the second lockdown. The government’s new package of support measures announced in the Chancellor’s Winter Economy Plan have been postponed or reworked, including an increase to the SEISS.
November 16, 2020
Changes to Imports and Exports with the EU from 1st January 2021
From 1st January 2021, Great Britain will leave the single market of the EU which will impact VAT, Customs and Duties on imports and exports with the EU. Below is a summary of the changes coming into force.
November 12, 2020
Take two: furlough scheme extended into 2021
As the second lockdown took effect on 5 November, the Chancellor returned to Parliament to announce a further extension to the furlough scheme through to March 2021.
November 05, 2020
CJRS extended further into March 2021 and SEISS increased
The Chancellor, Rishi Sunak, has just announced in Parliament that the Coronavirus Job Retention Scheme (or “furlough scheme”) will be extended further, into March 2021.
November 03, 2020
Scammers never sleep – rise in tax scams reported
Given the amount of Covid-19 financial assistance available, it comes as no surprise that there is an increase in HMRC-related scams this year. What is worrying is that scammers have become more sophisticated; it is no longer a matter of simply ignoring emails offering tax refunds.
November 01, 2020
CJRS extended through November
Yesterday evening, the Prime Minister announced that there will be a 4-week nationwide “lockdown” effective from 5 November. These restrictions will require certain businesses and venues to close.
October 29, 2020
Support increased: Job Support Scheme, SEISS and business grants
Job Support Scheme (“JSS”) JSS Open For employers who can operate safely but continue to face reduced demand, the Job Support Scheme, through JSS Open, will provide support to help these employers keep employees on the workforce on shorter hours rather than making them redundant.