by VelocityAS | Jun 9, 2021 | COVID-19, HMRC, Tax Relief
If you are an employee and you are, or have been, working from home as a result of the COVID-19 pandemic, you may be able to claim tax relief for the additional household costs that you have incurred as a result. HMRC are now accepting claims for the current (2021/22)... 
by VelocityAS | May 7, 2021 | Business, COVID-19, Finance, Recovery Loan Scheme
If you need to access finance to help your business recover from the effects of the COVID-19 pandemic, the Recovery Loan Scheme may be for you. Nature of the scheme The Recovery Loan Scheme is designed to provide access to finance in order to support businesses as... 
by VelocityAS | May 7, 2021 | COVID-19, Finance, income, Tax, Tax Relief
To help businesses which have suffered losses as a result of the COVID-19 pandemic, the period for which certain trading losses can be carried back is extended from one year to three years. The extended carry-back period applies for both income tax and corporation tax... 
by VelocityAS | Apr 6, 2021 | COVID-19, HMRC, income, SEISS, Self Assessment, Tax
The Self-Employment Income Support Scheme (SEISS) provides grant support to eligible self-employed taxpayers who have been adversely affected by the COVID-19 pandemic. A further two grants are to be paid under the scheme. In addition, the scheme has been expanded to... 
by VelocityAS | Apr 6, 2021 | Budget 2021, Business, CJRS, COVID-19
The Coronavirus Job Retention Scheme (CJRS) has provided a lifeline for many employers and employees during the COVID-19 pandemic. The scheme was due to come to an end on 30 April 2021. However, at the time of the 2021 Budget, the Chancellor, Rishi Sunak, announced... 
by VelocityAS | Mar 1, 2021 | Charity, COVID-19, HMRC, income, Self Assessment, Tax
If you are a taxpayer and you make a Gift Aid declaration when making a donation to a charity, the charity can reclaim basic rate tax on your donation. Tax relief on the donation A donation made under Gift Aid is treated as being made net of the basic rate of tax,... 