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The latest accounting and tax news

15th September 2021 / Tax

The New Health & Social Care Levy

We've summarised the key and what we believe are salient points from the new Health and Social Care Levy announced by Boris Johnson recently.

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31st August 2021 / Tax

Phase two of Making Tax Digital for VAT is fast approaching

VAT registered businesses with a turnover of less than £85,000 will now need to switch over to Making Tax Digital. Any business that is VAT registered needs to be aware of the requirements. We can help and we have summarised the process.

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24th August 2021 / Tax

How might IR35 and Off-Payroll Working affect me or my business?

Are you self-employed in any way and do you provide services to another business? If so then it is important that you familiarise yourself with the IR35 criteria and the off-payroll working rules.

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24th August 2021 / Tax

Self-Employed? The Deadline to Make Tax Digital is approaching

Making Tax Digital will be coming into effect from April 2023 and it will be compulsory. You can voluntarily sign up for this now though. But who will it impact and, if you complete a self-assessment tax return what does this mean for you?

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7th June 2021 / Tax

The VAT deferral deadline is 30th June 2021

This year the UK Government allowed businesses to defer their VAT bills and instead pay in instalments. This scheme finishes on 21st June 2021 and you will need to make a decision on payment going forward to avoid incurring a penalty.

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3rd June 2021 / Tax

Everything you need to know about HMRC's "Making Tax Digital"

HMRC have ambitions to be the most digitally advanced tax administrations in the world. Businesses have been switching since 2019 and will continue to do so for the next couple of years.

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24th May 2021 / Tax

The dog ate my return...and other excuses

Now that P60's are being sent out, it's time to start thinking about completing your tax return. Getting organised now will save you a lot of trouble and stress further down the line. As we've said before, HMRC aren't the most sympathetic when it comes to errors, no matter how creative your excuse is...

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4th May 2021 / Tax

Have your staff been working at home due to the Covid-19 pandemic?

When the pandemic hit the UK, a huge amount of people were suddenly required to work from home. In response, HMRC broadened the criteria on who could claim tax relief. Businesses need to keep in mind though, the change was only temporary and we should expect to see them reverting back as the pandemic eases.

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4th May 2021 / Tax

Why does my accountant keep chasing me for VAT invoices?

Does it incense you when your accountant keeps chasing you for VAT invoices when your VAT return is due? We are continuously advising our clients that, when you are VAT registered, there are specific elements that need to be included on sales invoices. We also need a VAT receipt or invoice if you are claiming VAT on expenses. We promise there is a good reason for this persistence - we'll try to offer a bit of clarity on the process.

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