Chris Bailey is a Chartered Accountant and experienced business owner who has been involved in the property industry for almost 30 years. He runs many successful accountancy practices, a tax advisory company and a property Capital Allowance business.
Co-Founder and Group Director of Less Tax 4 Landlords, Chris also has over ten years experience of Capital Allowance claims and extensive knowledge of the complexities and challenges of property tax law.
On March 27th 2020, Chris filmed the first of a series of COVID-19 question and answer sessions and has continued to do so throughout the pandemic. With his straight-talking and uncomplicated approach, Chris talks through all of the Government Business support schemes, giving practical advice and alleviating concerns that his customers had.
Latest Episode Covid-19 Support Episode 16 (Published 12th January 2021)
Chris has taken part in his first Coronavirus support video of 2021.
Please note– Since filming this video, HM Revenue & Customs have extended the tax self-assessment deadline by a month, until 28 February 2021. They have acknowledged that some people were struggling to meet the deadline and more time was needed to file their 2019-2020 tax returns – a move that will give more than 3 million people some extra breathing space. More information about the extension to the deadline can be found on gov.uk.
In this episode, Chris discusses: –
- New business grants
- Third SEISS grant
- Furlough
- Government-backed business loans
- Making Tax Digital
- Capital Gains Tax
- IR35
- Brexit
- Upcoming changes to SKS Bailey Group
COVID-19 Q&A Episode 15 (Published 6th August 2020)
Alongside his usual Coronavirus update video, Chris also provides a general update about the new rules that came into effect on 6th April this year with regards to Capital Gains Tax. You have 30 days to pay the tax and 30 days to tell the revenue you’ve done it. Don’t get caught out, learn more about it in this video. Chris also discusses: –
- Self-Employed Income Support Scheme – make sure you know all the important dates and practical points,
- Making Tax Digital,
- Eat Out to Help Out
- Kick Start scheme.
COVID-19 Q&A Episodes 1-14 (27th March – 24th July)
Chris discusses Making Tax Digital and the £30bn package of measures recently introduced by Chancellor Rishi Sunak.
- Stamp Duty. Raised to £500,000 but with the extra 3% on second properties still payable. For more details jump straight to 4:45
- Making Tax Digital. Income over £10k will be in MTD from 2023. Click here and jump to 3:04
- VAT reduction for hospitality. Details on how VAT is lowered from 20% to 5% and more. Jump to 0:53.
- Furlough scheme. Details of the scheme and the £1000 bonus if staff are kept on till Jan 2021. Jump to 2:03.
- Eat out to help out. £10 off your meal or 50% starting 1st Aug (Monday to Wednesday). Jump to 3:55
- Apprenticeship scheme. £2000 incentive for businesses. Jump to 5:39
Chris Bailey took part in another Coronavirus update video from the new Bailey Group Oldham Accountancy practice. In this instalment, Chris discusses the £30bn package of measures introduced by Chancellor Rishi Sunak last week. Some of the topics covered include:-
- Flexible Furloughing
- January Employment Grant
- Stamp Duty
- Cut in VAT
- Kick start schemes for taking on apprentices
- Green Investment Deals
In this episode, Chris reminds us that the closing date for new staff to be furloughed is the 10th of June, 2020. The scheme will close on 30th June for new entrants. Also a step by step explanation of the new changes to the furlough scheme and a re-cap of the change in the new self employed scheme, with profits going from 80% to 70%, which is capped at £6,570.
Episode 9 of Chris Bailey’s COVID 19 update with some hints and tips on all government help schemes, including the bounce back loan.
In this COVID-19 Q&A session, Chris covers details on the self employed income support scheme, furlough and the bounce back loan.
If you’re particularly interested in the Bounce Back Loan, skip straight to 7 minutes.
Watch Chris Bailey deliver another week of Coronavirus Questions & Answers in episode 7. He covers more questions on being self-employed, furloughing and the bounce back loan scheme.
This week Chris talks about furloughing, self-employed grants and touches on the new bounce bank loan.
Week 5 Q&A talking about Furlough, with some very interesting questions about holiday pay and forcing those on furlough to take annual leave.
Chris Bailey, group director of LT4L and CEO of the Bailey Group Chartered Accountants answers some of your most asked questions from this week, with a focus on the furloughing of employees and self-employment grants.
In this episode, Chris gives his ‘tax tips’ for businesses struggling during the Coronavirus and answers questions about making tax digital and furloughing.
Chris looks at the different types of help the government are giving employers, employees, the self-employed and landlords.
LT4L Group Director and Chartered Accountant Chris Bailey took part in a Q&A session to answer some of your most asked Covid-19 questions from last week.
If you’d like to see a summary of Government help available to Businesses during COVID-19 then please visit our blog page here.
If you’re a landlord who has been impacted by Section 24 and you are considering taking advantage of the Governments help which allows all landlords who made a tax Payment on Account in January 2020 to kick the can down the road opting for an interest-free deferral of your second 19/20 tax year payment, we recommend reading our blog ‘The Impact of the Covid-19 Crisis on Landlords Tax Bills‘ which explains why you may need to plan further into the future than you might normally do.
