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Thames Valley Quarterly Economic Survey | |
We have recently announced our partnership with Thames Valley Chamber of Commerce, as lead sponsors of the Quarterly Economic Survey (QES).
The Q2 QES is now live until 10th June 2024, with the comprehensive quarterly Thames Valley Report due to be published early in July, reflecting the views of key decision-makers on topical issues that support jobs, growth and the regional economy. | | | |
If you're part of the Thames Valley business community, please take part in the survey by clicking below. | |
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MTD for Income Tax pilot now live | |
HMRC's pilot scheme for Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) is now live. | |
Accountants, agents and individuals are able to sign up to the pilot and test the programme out. The pilot aims to assess the MTD for ITSA reporting environment, with an initial focus on those who are self-employed and landlords with annual income exceeding £50,000. Signing up to MTD for ITSA will become mandatory for individuals with income in excess of this threshold from 6 April 2026. | | | |
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| Government urged to implement reforms to R&D tax system | |
The government is being urged to implement reforms to the Research and Development (R&D) tax relief system in order to avoid hurting small companies by the Suffolk Chamber of Commerce. | |
A report released by the Chamber found that recent changes by HMRC and a 'wild west' regulatory system in regard to who can act as R&D tax advisers are 'undermining confidence and take-up'. The Chamber collected a number of case studies and original survey research, which showed that 46% of small companies are deterred from making future claims based on their latest experience. | | | |
We recently recorded a two-part series on the current and future changes to the R&D tax relief scheme and how they may affect your business. In this webinar series, our R&D tax experts Margaret Savory and Tracy Bacon will guide you through the current and upcoming changes to the R&D tax relief scheme and how they may affect your eligibility, calculation and submission of claims.
The webinar consists of two parts which can be watched by clicking here. | |
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HMRC clarifies tax rules for WFH commuting | |
HMRC has updated guidance on when tax relief is available on travel expenses for staff who work from home.
The tax authority is responding to the growth of flexible or hybrid basis working contracts, particularly since the Covid-19 pandemic. | |
HMRC confirmed that ‘under such arrangements, the employee will have a base office and journeys from home to that location will be ordinary commuting’. These trips are not eligible for tax relief. Whether or not an employee’s home is a workplace does not affect the availability of tax relief for travel expenses. Travelling from home to a permanent workplace is classed as ordinary commuting and not available for tax relief. | | | |
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HR and payroll update from outsourcing specialist JCHR | |
New duty to prevent sexual harassment Sexual harassment at work is alarmingly common, and the press has reported numerous high profile cases featuring prominent employers from across sectors. | |
In response from October employers will be required to meet a new statutory duty to take reasonable steps to prevent sexual harassment at work. Should they fail to do so, any tribunal award made against them may be increased by up to 25%. But what actually are ‘reasonable steps’ and how should employers approach putting these in place? | | | |
JCHR has all of the answers in a 5 minute read, and you can access the article, and our suggested practical solutions by clicking below. | |
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James Cowper Kreston is a leading firm of accountants and business advisers, with offices across the South of England. We deliver focused, innovative advice to a diverse range of businesses and individuals helping our clients to maximise their potential. If you would like to discuss any of the topics raised within this newsletter please email us on info@jamescowperkreston.co.uk or call us on 01635 35255. James Cowper Kreston | |
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The information in this newsletter must not be relied on as giving sufficient advice in any specific case.
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