The Chancellor’s budget announcement in March set out plans for a new Capital Allowances relief exclusive to Companies. For expenditure incurred from 1 April 2021 until 31 March 2023, companies can claim 130% capital allowances on qualifying plant and machinery and 50% first year allowances on special rate investments.

Family firms are the engine room of the Scottish economy, and they continue to contribute significantly to employment, economic output and the creation of wealth, on top of making a real impact on the communities in which they are located. 

Anderson Anderson & Brown LLP (AAB) is one of the UK’s leading Chartered Accountants and Business Advisory Firms. Our specialist Charity Services Team of experts understands the needs of third sector organisations and has worked with many during this time of immense pressure for the sector. Our team is drawn from each of the service areas of AAB, such as audit, business advisory, payroll & employment taxes, corporation tax and indirect tax. Each member joined the charity services team because they are passionate about the impact of the work of charities do in our communities. 

HMRC have now confirmed that the fifth SEISS grant will be available from late July 2021. The fifth grant will be taxable, paid in a single instalment and will cover May 2021 to September 2021.   

If yes, then did you know HMRC’s online facility does not allow individuals to complete UK Self-Assessment Tax Returns (SATR) if they are a non-UK resident person?  

If you are UK registered, unquoted, and meet the definition of a large company under the Companies Act 2006, then the directors are now required to report on the Streamlined Energy and Carbon Reporting Framework (“SECR”).