The latest accounting and tax news

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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4th May 2021 / Tax

The 4th SEISS Grant is now open

The portal for the fourth Self-Employed Income Support Scheme grant, or SEISS, is now open. HMRC will be getting in touch with you if you're eligible, in the meantime, there are some other factors that you might want to keep in mind.

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23rd April 2021 / Tax

The Super Deduction and how it benefits businesses

If you buy plant or machinery for your company, then this might be of some interest to you. In response to a drop in the number of businesses investing the Government has introduced a tax relief which they hope will improve the UK's economic growth.

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21st April 2021 / Tax

How much should I pay myself as a Director?

If you're setting up a limited company you're going to have to decide how much you should pay yourself as a director. This might lead to a lot of questions about salary and the ways in which different amounts could benefit you or impact tax liabilities. We've put together a quick summary of things you could consider.

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7th April 2021 / Tax

Important changes to the UK National Minimum Wage

As of April 1st, the national minimum wage has increased impacting businesses and millions of UK workers. As always the amount per hour the individual will get varies depending on age. Here are some of the important factors employees need to keep in mind when considering the changes.

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