Coronavirus Self-Employment Income Support Scheme

If you are self-employed or a member of a partnership and have been adversely affected by coronavirus you may qualify for two grants under the Self-Employment Income Support Scheme (SEISS). The first grant is claimable now and you must your claim before 13 July 2020 to claim the grant. The second grant will be claimable … Read more

Principal Private Residence and Letting Relief

If you own more than one property it is very important to understand your tax position prior to selling a property to ensure you aren’t caught out by an unexpected tax bill.  There are reliefs available such as Principal Private Residence (PPR) and Letting Relief.   Having an understanding of how these work could influence your … Read more

Top Tips for maximising your CIS tax refund

Construction

If you are self-employed or a contractor working in the construction industry it is very likely you are well aware of the Construction Industry Scheme or CIS.

Under this scheme contractors deduct CIS from subcontractors and pay it to HM Revenue & Customs (HMRC) on the subcontractor’s behalf. This tax is paid in advance towards the subcontractor’s income tax and national insurance.

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