Money Matters - August 2021 Accounting Newsletter
Posted on August 20, 2021

We are pleased to offer you a complimentary copy of our latest newsletter.

Our topics this issue cover the new recovery loan scheme and, on the basis that the furlough scheme is beginning to be wound down, what is likely to be the fifth and final SEISS support grant.

Our feature article examines the impact of key changes to the reporting of gains on UK property sales and we also highlight adjustments to the VAT regime for trading with European countries post Brexit.

The articles in this issue are:

  • Back in business with the Recovery Loan Scheme If your business needs financial support as you recover from the pandemic and grow, the government’s Recovery Loan Scheme is still available to help.
  • Reporting property capital gains The online system for reporting capital gains on residential property is creating difficulties for taxpayers.  The latest problem may lead to some investors paying too much tax. 
  • Capital allowances on cars change The latest reductions to the capital allowances CO2 emissions limits mean a significant number of cars now only qualify for the lowest amount of relief.
  • Last self-employed grant opens The fifth, and probably final, SEISS support grant is now available.  This time, the amount of grant paid is dependent on the reduction in turnover.
  • New VAT rules for EU retail sales The EU has extended its mini one stop shop (MOSS) to become a one stop shop (OSS) from 1 July 2021 covering a wider range of supplies.
  • Working through an umbrella company Many contractors have turned to umbrella companies as a hassle-free way of providing their services to clients now that the stricter off-payroll working rules apply for most contracts.

We hope you enjoy reading the newsletter. Please get in touch if you need help or advice on any of the topics covered.