Mini-budget reversals
The tax reductions set out in the Kwarteng/Truss mini-budget of 22 September 2022 have been scrapped, apart from the cancellation of the NIC increase for 2022-23, the withdrawal of the Healthcare Levy from April 2023, the changes to Stamp Duty Land Tax and the increase in the Annual Investment Allowance. As we are presented with […]
VAT registration changes
The way businesses register for VAT changed on 1 August 2022. A new VAT Registration Service (VRS) has been created to manage the process. One of the key features of the new VRS is that every business will be automatically signed up to Making Tax Digital (MTD) VAT as part of registration. This removes the […]
Christmas gifts for your staff
Business owners who are minded to celebrate the forthcoming Christmas break with their staff are reminded that there is a tax-free allowance for the provision of an annual party or other event for the benefit of staff and their partners. The present limit to tax relief is £150 per head. If this amount is exceeded, […]
Plan to future-proof UK economy unveiled at expo
Green investment can help future-proof the UK economy, but we need to ‘act fast and act now’. Those were the words of Trade Secretary Kemi Badenoch when she spoke at a landmark trade event in the North East of England. Speaking to an audience of global investors and executives at the Green Trade and Investment […]
Self-assessment scams warning
Criminals claiming to be from HMRC have targeted individuals by email, text and phone with their communications ranging from offering bogus tax rebates to threatening arrest for tax evasion. Contacts like these should sound alarm bells – HMRC would never call threatening arrest. Anyone contacted by someone claiming to be from HMRC in a way […]
Do not let COVID-19 payments slip off the radar
The clock is ticking down to complete Self Assessment tax returns with HM Revenue and Customs (HMRC) reminding customers not to forget to include a very important payment. More than 2.9 million people claimed at least one Self-Employment Income Support Scheme (SEISS) payment up to 5 April 2022. These grants are taxable and should be […]
Why the anti-fragile approach will support your business
Brexit. COVID-19. Cost of living. Energy prices. Number 10. Bank rates. Economic freefall. It’s fair to say businesses have faced an unprecedented number of challenges over the past two years and if you’ve felt like curling up under a blanket until it’s all gone away, then you are not alone. But there is an increasing […]
Challenges are to be overcome – let us help you
A rising number of businesses are failing as the Government’s pandemic support is withdrawn and banks push their credit score limits higher making it harder to borrow. The Office for National Statistics has reported that there were 5,600 registered company insolvencies from April to June this year, a 13 per cent increase from the first […]
Tax Diary November/December 2022
1 November 2022 – Due date for Corporation Tax due for the year ended 31 January 2022. 19 November 2022 – PAYE and NIC deductions due for month ended 5 November 2022. (If you pay your tax electronically the due date is 22 November 2022.) 19 November 2022 – Filing deadline for the CIS300 monthly […]
