The government has published an update of the various grants and support available to individuals and businesses affected by flooding in recent months. The announcement is reproduced below:

Government support for homes, businesses, farmers and councils

In total the government’s investment in recovery from Storm Eva and Storm Desmond now amounts to nearly £200 million.

Households and businesses

The Floodline Service on 0345 988 1188 helps people affected by the recent floods. Before calling, please read our guidance for households and businesses or farmers.

We are:

• helping the people directly affected by the floods – providing local authorities with over £500 for each household affected; for example, to help with temporary accommodation costs whilst we work to get people back into their homes
• support people as they protect their homes against future floods by providing grants of up to £5000, so they can install new flood barriers, replace doors and windows with water resistant alternatives, or move electricity sockets up to a safer level
• ensuring flood affected businesses that have had their trading disrupted can get back on their feet, with funding equivalent to £2,500 provided to local authorities for each business affected
• ensuring that flood affected communities will not face Council Tax or business rates bills for their homes and businesses for as long as they are out of their properties

Farmers

Farmers affected by the recent flooding in Cumbria, Northumberland, Lancashire, Yorkshire and Durham can get grants worth up to £20,000 to help restore damaged agricultural land under the Farming Recovery Fund. Farmers experiencing difficulties getting online can call the Rural Payments helpline on 03000 200 301.

The Rural Payments Agency has published guidance about farm inspections, animal movements, TB testing, impacts on Basic Payment Scheme eligibility, and other Cross Compliance requirements.

The NFU has produced a newsletter for members affected by the flooding in the North East and North West. It contains information on where advice and funding is available to help with the recovery operation.

Roads, transport and flood defences

We have announced that we will provide £40 million of funding to help repair flood-damaged roads and bridges in Cumbria and Lancashire. We have also announced £3.3 million for Tadcaster bridges and £5.5 million to repair Elland Bridge in Calderdale.

We’re providing an additional £10 million so that the Environment Agency can repair flood defences that were damaged by Storm Desmond and we have announced a package of more than £40 million to rebuild and improve flood defences in the aftermath of Storm Eva. Of this, £10 million will be reserved to improve the Foss Barrier protecting York, which was overwhelmed at the height of Storm Eva. The other £30 million will be spent repairing defences on the Wharfe, Calder, Aire, Ouse and Derwent. It will include repairs to pumping and barriers and clearing blockages in rivers.

Tourism

The Prime Minister announced, on 28 January 2016, a support package to boost tourism across flood-hit north.

Charities

The government will support charities helping those caught up in each of the two recent storms by matching every pound of the first £2 million raised in each case. Applications for Storm Desmond or Storm Eva can be made by any registered charities currently running a fundraising appeal for flood relief to benefit each of the affected areas. The deadline for applications is 5 February 2016.

Sports facilities

Sport England has an emergency flood relief fund now amounting to £400,000 to help people repair sports pitches and facilities destroyed by this winter’s unprecedented rainfall. This will help clubs, local authorities and other community sports organisations in affected areas to help pay for emergency repairs to damaged facilities such as rugby and cricket pitches, water sports centres, pavilions, changing rooms and floodlights.

 1 February 2016 – Due date for Corporation Tax payable for the year ended 30 April 2015.

 19 February 2016 – PAYE and NIC deductions due for month ended 5 February 2016. (If you pay your tax electronically the due date is 22 February 2016)

 19 February 2016 – Filing deadline for the CIS300 monthly return for the month ended 5 February 2016.

 19 February 2016 – CIS tax deducted for the month ended 5 February 2016 is payable by today.

 1 March 2016 – Due date for Corporation Tax due for the year ended 31 May 2015.

 2 March 2016 – Self Assessment tax for 2014/15 paid after this date will incur a 5% surcharge.

 19 March 2016 – PAYE and NIC deductions due for month ended 5 March 2016. (If you pay your tax electronically the due date is 22 March 2016)

 19 March 2016 – Filing deadline for the CIS300 monthly return for the month ended 5 March 2016.

 19 March 2016 – CIS tax deducted for the month ended 5 March 2016 is payable by today.

As implied in the CGT planning article above, the 31 January 2016 was not only the deadline for filing your Self Assessment return online, it  was also the date when any underpayment of Income Tax, Class 4 NIC and CGT for 2014-15 fell due for payment, together with your first payment on account for 2015-16.

If you made your payment on time there is no need to read the rest of this article. If you didn’t, and your payments remain outstanding, read on…

• Interest will be charged at 3%, plus potential penalties as follows:
• If your tax is still unpaid by midnight 2 March 2016 you will be charged a penalty amounting to 5% of the tax unpaid
• If your tax is still unpaid by midnight 1 August 2016 you will be charged a further penalty amounting to 5% of the tax unpaid
• If your tax is still unpaid by midnight 1 February 2017 you will be charged an additional penalty amounting to 5% of the tax unpaid.

These penalties apply to the balance owing for 2014-15 and can be increased to 100% of your tax bill if you deliberately don’t pay it.

Of course, you might not get the later penalties – HMRC may have sent round the bailiffs!

So, taxpayers who are financially stretched, and will be paying their tax late, would be advised to call HMRC and agree an affordable payment plan. In that way, they should be able to avoid penalties if they keep up with agreed repayments.

Most of our readers will be aware that they can make chargeable gains of up to £11,100 in the tax year 2015-16 and pay no CGT. This exemption cannot be transferred to a future tax year or carried back to a previous tax year if it is not utilised.

Many will also remember that it is no longer feasible to sell shares before 6 April 2016 in order to crystallise a CGT loss or a gain that is covered by the above exemption, if those shares, or part of them, are reacquired within 30 days of the disposal. However, it is still possible to reacquire holdings, within the 30 days period, if you use an ISA or self invested personal pension (SIPP) to make the buy-back.

Transfers of chargeable assets for CGT purposes are exempt between spouses and civil partners. Also, the annual exemption is available to both parties. This combination means that couples may be able to share the gain on a disposal of assets and reduce their overall CGT charge.

This strategy, of transferring partial ownership to a spouse, can also reduce an overall CGT charge if the transferring partner/spouse is due to pay CGT at the higher 28% rate (as their gains fall to be taxed in the higher rate tax band) and the receiving partner/spouse would only be liable to pay CGT at 18% (as their share of a transferred gain would fall into their free basic rate band).

And don’t forget, CGT is assessed and payable as part of your Self Assessment. Any tax payable for 2015-16 will be due for payment 31 January 2017. On the same day you will also have to pay any other underpayment of Income Tax for 2015-16 and your first payment on account for 2016-17.

If you own assets that are subject to CGT on disposal, and you, and possibly your spouse, are struggling to fully utilise your CGT annual exemption, or you would like to discuss ways to minimise any CGT payable, please call to discuss your options.

On 1 February 2016, the responsibility for ensuring that tenants have a right to live in the UK was passed from the Home Office to landlords, the so-called right to rent checks.

The following guidance pointers were issued by the Home Office:

 There are four basic steps.

1. Find out who will live in property
2. Check that these people have the correct documentation to stay in the UK
3. Retain a copy of the documents and record the steps you took to check them
4. Keep the copies throughout the tenancy period and for at least one year afterwards

Unless you follow these procedures, and if an illegal immigrant is found living in your property, there is a possibility that you will be liable to a civil penalty of up to £3,000.

 Landlords letting certain exempt properties will not be affected by the right to rent regulations. These include:

• Accommodation arranged by local authorities or NHS bodies
• Care homes, hospitals and hospices
• Social housing, including private properties let to social tenants
• Hostels and refuges
• Tied accommodation
• Student accommodation
• Long leases

As a landlord, you can soften the impact of these regulations by asking any agents that manage or let your property to carry out the checks for them. You should have this agreement in writing.

If a tenant sub-lets the property without you knowing, they are responsible for carrying out checks on any sub-tenants. They will be liable for any civil penalties if they don’t do the check correctly.