Our Top 5 Most Popular Blogs of 2021
One good thing can be said about 2021 - it wasn’t as turbulent as 2020, which put in a claim to be the worst year ever.
Over the course of 2021 we shared an incredible 122 blogs, but which ones did our readers find the best? We have summarised our Top 5 most popular articles, as well as their direct blog links below.
The Bounce Back Loan was just one of the measures the government introduced to assist businesses that were struggling as a result of the pandemic. Businesses were able to borrow up to 25% of their turnover to a maximum of £50,000.
The loans were unsecured and on generous terms. For the first year, they were interest-free and no repayments were required. For the remainder of the 5-year term, interest is charged at 2.5%. In November the government extended the term to 6 years, and as of February 2021, under its “pay-as-you-grow” initiative, the government has offered the option to extend the loan term up to 10 years, have up to three 6 month periods of interest-only repayments during the loan tenure, or request a single 6 month payment holiday.
Despite a last-minute attempt at negotiations, the UK left the European Union on the 31st December 2020 without a deal.
Under the terms of a ‘no deal BREXIT’ - UK residents will only be permitted to visit EU countries for a total of 90 days out of every 180 days. This affects many who own second homes in Europe and who would be spending six months in their foreign home whilst letting it for the other six months.
This article highlights some of the tax implications for UK residents who own second homes in France and Spain.
One of the questions we are frequently asked by clients is "what are the tax benefits are of buying an electric vehicle?". It is clear over the past few years that the Government wants to do all it can to encourage the take-up of such vehicles, especially with their target to cease the sale of petrol and diesel cars by 2030.
The amount and diversity of electric and hybrid cars available is ever-increasing, likewise the electric range, which helps contribute to the fact that electric car sales in the UK are the 12th highest in the world!
There are considerable tax benefits both for the employer and the employee in switching to fully electric company cars and certain hybrids, discover them now!
There was a lot of speculation around the upcoming Autumn Budget on 27th October, regarding how the government are going to raise the required funds needed to aid the ongoing recovery process and start to repay the government debt, which the Chancellor built up during the pandemic. Can the government keep running a deficit or will the Chancellor look to raise taxes?
After reading through the online articles and following discussions with those 'in the know', we outlined the main issues that needed to be addressed.
The SASSO partnership tax return guide provides information on the entries required when a self-employment business is transferred to a partnership for self-assessment purposes. It would also be advisable for the client to consider setting out what has been agreed between them in a partnership agreement. All too often informal arrangements that are not properly documented lead to disputes when the parties disagree on what they were intending to achieve.
It is hard to predict how 2022 is going to pan out, but let's hope it is better than the last two years we have had! Get in contact with us today to discover how we can help strengthen your business over the year ahead...