Oh dear……………..

Since the last post much has taken place; little good. Putin, Good bye to Boris and the Queen and now a brave / stupid mini budget. It is currently difficult to see how this might play out.

What is also quite clear is that HM Government do not know how to react to the impact of Putin on farming. The increasing food, fuel and fertiliser prices have seemingly made the government reconsider their previously headlong rush into environmental subsidies. We even had a visit from a recently recruited Defra employee wanting to learn more as to what Farmers want post SFP and pre ELMS.

We sent the strong message that we must subsidise food production, but not at the expense of the environment. A 360 degrees change of emphasis from the ‘plant trees for money’ strategy, that always appears a bit bonkers to us. It would appear that Whitehall are perhaps finally waking up. We shall see.

We had a good and busy Blakesley show and now are back to accounts production in earnest.

 

 

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Budget commentary

After predictions of doom, we are pleased to be able to report that the major capital taxes, CGT and IHT have remained surprisingly untouched. Indeed, many of the rates and bands are stated to remain unchanged until 2026. Whether this comes to pass is of course a moot point. Consequently, there has never been a better time to consider estate planning. We know the rules and business assets in particular can be passed down generations free of tax.

Do not tarry. This cannot last…………

 

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The Autumn Budget 2021

Please find the full statement as issued yesterday. The glib comment being it appears to be a good Labour Party thumbnail_BUDGET_2021_-_web.pdfbudget.

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Someone’s idea of a birthday present………

A partner’s birthday was duly marked in a somewhat unusual manner today. This afternoon there will be a proliferation of P45’s.audi

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Lamport Hall reception

lamportOn Wednesday 15th September we hosted a client reception for some 200 people at Lamport Hall. The inclement weather of the day before had thankfully disappeared and the warm evening allowed guests to walk in the gardens as well as enjoy the magnificent interior. Being constructed in the Commonwealth period makes Lamport almost unique in architectural terms. Hopefully a pleasant evening was enjoyed by all.

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Blakesley Show – Saturday 7th August 2021

The committee of the Blakesley show have made the commendable decision to press ahead and hold the annual show, which was of course cancelled last year.

Consequently, we are delighted to support the show and have our usual stand opposite the main ring. Do please call in and make yourself known.blakesley

 

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Self assessment – no penalties until 28th February 2021

Dear all

As per usual we are on target for completing all the SA returns by 31st January. However, there is no doubt that this year has been more challenging than most, with Covid, furlough and now the old favourite of bad weather all trying to conspire against us.

This afternoon the government have relented to pressure and have declared that no penalties will be raised on returns submitted by no later than 28th February 2021. Whilst this is potentially good news (though somewhat ironic given our near completion, it does not exonerate the non payment of taxation. So we will continue as previous and will complete all the returns as usual.

Please find the link below:

https://www.gov.uk/government/news/no-self-assessment-late-filing-penalty-for-those-who-file-online-by-28-february

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The plan for winter

It has been some while since we have seen the need for a post, but with Chancellor Sunaks statement today that has changed and we attach the same to this post. The fear is that this is all starting to feel like a long hard winter (and we are still in September).

https://www.gov.uk/government/news/chancellor-outlines-winter-economy-plan

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Chancellors statement – 8th July 2020

Please find the statement in full below:

https://www.gov.uk/government/speeches/a-plan-for-jobs-speech

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Round Robin – 16th June 2020

Dear all

Apologies. A bit like red buses today.

We have been asked by a number of clients, “I’m self-employed but haven’t had a letter, concerning the grant, what should I do?”

My advice had been to wait as when announced the letters were said to be going out in June. They actually started appearing in mid-May and so now people are understandably wondering if they have ‘missed the bus’.

Fear not, instead go online and google ‘self employed claim’. Hopefully that will direct you to the address below and you can then make the claim yourself, or at least ascertain if you are eligible. Rest assured, if you are one of our clients your affairs will be up to date, so if there are any problems contact us again. You have paid your taxes so you are quite eligible as far as I can see.

 

https://www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme

We are getting all staff back to work so there will be someone here who can help.

Secondly, for those of you who insure through AXA or AVIVA, there may be some light as to the Business Interruption policies that failed to pay out under the Disease clause. Apparently, the goal posts have been slightly moved and there may now be respite under the Government Action part of the policy. Much to my amazement we have such a policy which initially declined any liability, but now have sent us a claim form. This may not be unique to AXA or AVIVA, but to date they are my experience.

And lastly, I am glad to see that the government has found time to issue a ‘space rocket challenge’.

https://www.gov.uk/government/news/space-rocket-challenges-for-the-engineers-of-tomorrow

My vote would be to load up the entire cabinet and shadow cabinet in said rocket, launch it and see how far they can go……………

 

 

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