The Apprenticeship Levy was first announced in the Summer Budget 2015 and it was later confirmed in the Autumn Statement 2015 that the levy would be introduced from 6 April 2017. Primary legislation was subsequently included in the Finance Act 2016, Pt. 6 (s. 98 – s. 121) and secondary legislation (Income Tax (PAYE) Regulations 2003, Pt. 7A) was inserted with effect from 6 April 2017.

The term ‘travel expenses’ includes the actual costs of travel together with any subsistence expenditure and other associated costs that are incurred in making the journey. Tax relief is available only where travel is in the actual performance of the duties or where it’s necessary.

You may be able to claim tax relief for additional household costs if you have to work at home for all or part of the week.You can claim tax relief if you have to work from home, for example because: Your job requires you to live far away from your office.Your employer does not have an office.

Cut the basic rate of income tax to 19%, Currently, people in England, Wales, and Northern Ireland pay 20% on any annual earning between £12,571 to £50,270,
45% higher rate of income tax abolished ,One single higher rate of income tax of 40% from April next year.

A Director’s Loan Account (DLA) is “Money taken from your company’s accounts that cannot be classed as salary, dividends or legitimate expenses”. In many cases, Directors are unaware that even owe money to the company.

The Scheme is a government backed initiative set up to help UK businesses of any size access Business Loans and other kinds of finance so they can recover after the pandemic. The new scheme replaces previous schemes such as CBILS and the Bounce Back Loan Schemes that ended on the 31st March.

Since they were introduced in May of last year (2020), more than one million Bounce Back Loans have been approved, with more than £30bn of funding landing in the accounts of the UK’s small businesses. However, for some businesses, even these attractive loans will not be enough to save them. That’s why it’s so important that you understand the potential implications if you default on the loan and your business enters liquidation.

HMRC has issued Revenue and Customs Brief 7 (2021) to explain its policy concerning the VAT treatment on the cost of charging of electric vehicles when using charging points situated in various public places.

The articles of association set out the rules according to which a company must be run and administered. The articles of association form a contract of membership between the company and shareholders. They regulate a variety of matters such as Liability of shareholders, Directors, Shares and distributions, Decision making by shareholders, Administrative provision.

Oasis Umbrella is pleased to announce that we are the newest member of the FCSA. Oasis Group proudly accredited by the FCSA which means it has become the latest Accredited Member of the Freelancer and Contractor Services Association (FCSA), demonstrating that it fully complies with the membership body’s strict codes of compliance and have achieved accreditation for our bespoke umbrella services.