Posted in COVID-19, Tax
January 6th, 2022
Today HMRC has announced that they will not charge: Late filing penalties for those who file online by 28 February 2022. Late payment penalties for those who pay the tax due…
Posted in Accounting, Tax
September 16th, 2021
In order to encourage companies to invest in new capital equipment, earlier this year the chancellor announced a radical new “super deduction” of 130% where they invest in new plant.…
Posted in Tax
September 10th, 2021
Following the announcement 7th September, in an attempt to fund health and social care, Dividend rates will also increase by 1.25%, starting 2022/23. If you would like to know how…
Posted in PAYE, Tax
September 9th, 2021
Yesterday the government announced tax changes to fund £12 billion a year to be spent on the NHS and social care across the UK. National Insurance contributions (NICs) will increase…
Posted in Accounting, COVID-19, Tax
April 21st, 2021
Each year HM Revenue & Customs (HMRC) will undertake a number of tax enquiries into individuals and businesses in order to ensure that they have paid the right amount of…
Posted in Bookkeeping, Brexit, VAT
April 1st, 2021
If your business moves goods between the UK and countries in the EU, You’ll need to follow new customs and tax rules. Businesses will be affected by the new rules…
Posted in VAT
March 12th, 2021
HMRC have announced a reform of the current penalty system relating to late submission of VAT returns and late payment of VAT liabilities. Instead of an automatic financial penalty being…
Posted in Payroll
March 8th, 2021
The National Minimum Wage and National Living Wage rates will increase on 1 April. In addition to the new rates, the age from which workers become eligible for the National…
Posted in Accounting, Tax
March 5th, 2021
from 1 April 2023 where profits exceed £250,000 Corporation tax will be charged at 25%. For profits under £50,000, the rate of 19% will remain unchanged. For profits between £50,000-£250,000…
Posted in Accounting, Bookkeeping, Tax
March 5th, 2021
Unincorporated businesses and companies will welcome the increased flexibility to carry back losses arising during the period of the pandemic an additional two years. The extended relief will allow for…
