As you are aware, from April 2022, all VAT-registered businesses, including those with a taxable turnover below the VAT threshold will have to keep VAT records digitally and send returns using Making Tax Digital (MTD) compatible software.
Savings used to be the foundation of good financial management. Putting cash away to deal with emergencies, or to build up a cash sum for anything from a deposit on a first home to our old age was the first step to financial security.
In the UK there are a wide range of different religions that both employers and employees may need to have some understanding of and how they may occasionally affect the workplace.
‘Help to Grow: Digital’ is a UK-wide scheme to help small and medium-sized businesses adopt digital technologies that are proven to increase productivity.
The government have announced the rise in the National Minimum Wage and National Living Wage from April 2022. Please talk to us if you have any questions about your payroll.
Small Business Britain is launching “The Sustainability Basics programme”, in partnership with Oxford Brookes Business School, to help small businesses make the most of the opportunities of sustainability.
Many want to do their bit to support those who have been forced to flee their homes because of the invasion. Here is how you can help #StandWithUkraine.
With the increases in National Insurance Contributions (NIC) from 6 April 2022 many employees and their employees are considering changing their entitlement to their contractual salary for either
Please find below our list of main tax events March/April 2022. If you have any questions, we are here to help you meet these deadlines
Unless the Chancellor makes an announcement to the contrary on 23 March, which is very unlikely, the rates of National Insurance Contributions for workers and employers increase by 1.25% from 6 April 2022. This is to provide extra funding for health and social care and will become a separate Levy from 2023/24.
These are the suggested reimbursement rates for employees’ private mileage using their company car from 1 March 2022. Where there has been a change the previous rate is shown in brackets.
Your business year end, not 5 April, is relevant for capital allowances purposes. If, however you are running a business and making up accounts to 31 March or 5 April you should consider buying plant and machinery to take advantage of the £1 million Annual Investment Allowance (AIA).
The government are concerned about the lack of take up of tax-free childcare accounts, with HMRC estimating that only about 25% of families eligible for the scheme had joined.
For every £2 that your adjusted net income exceeds £100,000 the £12,570 personal allowance is reduced by £1. Pension contributions and Gift Aid can help to reduce adjusted net income and save tax at an effective rate of 60%.
HMRC are encouraging more employers to payroll employee benefits in kind rather than declaring benefits on the end of year P11d forms.
HMRC have recently updated their guidance for VAT registered importers. These traders must account for postponed import VAT on their VAT returns for the accounting period which covers the date they imported the goods.
Early in the COVID-19 pandemic, the Chancellor reduced the rates of VAT for the leisure and hospitality sector to just 5%
It is currently mandatory for most businesses with a taxable turnover above the £85k VAT threshold and will be mandatory for all businesses in April 2022.
There are important changes from 1 June 2022 for small businesses using the Flat Rate Scheme who are importing goods and using postponed VAT accounting.
The government are concerned about the lack of take up of tax-free childcare accounts, with HMRC estimating that less than 22% of families eligible for the scheme had joined in March 2021.
For limited companies, when it comes to making decisions, Company Law states shareholders who own more than 50% can pass a motion at a company meeting regardless of the views of other shareholders and if shareholder(s) owns more than 75% of the shares they control the company outright and can veto the decisions of all other shareholders.