Merry Christmas from Armstrongs

Dec 10, 2020

Wishing all our clients and friends a Merry Christmas and a Happy New Year! 

Our Christmas opening times are:

  • Closed - 4pm on Thursday 24th December 2020.
  • Open…

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£1 million Annual Investment Allowance cap extended

Dec 01, 2020

The Treasury has confirmed that the £1 million cap on the Annual Investment Allowance (AIA) is to be extended for an additional year as the government continues to look at ways to stimulate the economy.

The…

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HMRC confirms MTD for corporation tax to be mandated from 2026

Dec 01, 2020

In a new consultation HMRC has confirmed that Making Tax Digital for corporation tax (MTD for CT) will not be implemented until 2026 'at the earliest'.

The consultation considers how the principles…

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Self assessment taxpayers warned to watch out for scammers posing as HMRC

Dec 01, 2020

HMRC is warning self assessment taxpayers to be alert to the danger of scammers posing as the tax authority in the lead up to the tax return deadline.

Every year HMRC issues thousands of SMS…

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Advisory fuel rates for company cars

Dec 01, 2020

New company car advisory fuel rates have been published and took effect from 1 December 2020.

The guidance states: 'You can use the previous rates for up to one month from the date the new…

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Minimum Wage Increases from April 2021

Dec 01, 2020

Increased minimum wage rates have been announced to take effect from 1 April 2021.

The government has announced that the National Living Wage (NLW) will increase by 2.2% from £8.72 to £8.91,…

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Gifts to employees can be tax-free

Dec 01, 2020

Some employers may wish to give a small gift to their employees. As long as the employer meets the relevant conditions, no tax charge will arise on the employee.

A tax exemption is available…

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Virtual Christmas parties will qualify for tax exemption

Dec 01, 2020

HMRC has confirmed that they will accept a virtual Christmas party as an event which is capable of falling within the tax exemption rules for annual functions.

The Association of Taxation Technicians…

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Get prepared for the end of the Brexit transitional period

Dec 01, 2020

It is time to prepare for the end of the Brexit transitional period.

Whilst the United Kingdom officially left the European Union (EU) on 31 January 2020, this prompted the start of an 11-month…

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