Accountancy & Business Blog
Making Tax Digital: businesses get an extra year to prepare
Businesses will now get an additional year to prepare for the Income Tax digital changes, as revealed by HM Revenue and Customs (HMRC)....
University students – be aware of fake HMRC contact
From April to May this year, 18 to 24-year olds reported over 5,000 phone-related scams to HM Revenue and Customs (HMRC). With this in mind, HMRC is...
Final furlough figures published before end of scheme
As the furlough scheme comes to an end, the latest figures have revealed that almost 12 million workers in England, Wales, Northern Ireland and...
How will the National Insurance and dividend tax increases affect me?
Taxpayers face an increase in their National Insurance contributions (NICs) and dividend tax rates from 2022. To explain how this significant change...
Are you entitled to the Marriage Allowance?
Millions of married couples and those in civil partnerships could be entitled to up to £252 in income tax relief, HM Revenue & Customs (HMRC)...
Staff shortages: increased wages to entice workers could mean higher prices for customers
Due to the ongoing staff shortages caused by the pandemic, UK restaurants have had to increase employee wages to entice chefs and waiters - which...
Labour shortages could impact UK’s economic recovery, says experts
A recent report on the latest business trends suggests that despite the surge of hiring among UK firms in July, the lack of working employees could...
150,000 businesses owe HMRC £2.7 billion in deferred VAT payments
HM Revenue and Customs (HMRC) reported that 150,000 UK businesses have not yet made arrangements to pay back deferred VAT payments, and therefore...
Guidance for the fifth round of the Self-Employment Income Support Scheme (SEISS) published
HM Revenue & Customs (HMRC) has published detailed guidance for the fifth round of the Self-Employment Income Support Scheme (SEISS), which will...
Corporate Insolvency and Governance Act 2020 – the changes in 2021
Some temporary relief measures introduced under the Corporate Insolvency and Governance Act 2020 (CIGA) are extending, the Government announced on...
Electric car registrations surpassed 10 per cent mark in UK
According to new data, 10.7 per cent of car registrations in June were completely battery electric vehicles. In the same month, the Tesla Model 3 (a...
Federation of Small Businesses calls for more help for SMEs as financial support winds down
The Federation of Small Businesses (FSB) calls on the Government to offer more economic support to small and medium enterprises (SMEs) as...
Leaving your business in capable hands – Succession planning for the next generation
Many individuals who have spent their livelihoods building, running, and maintaining a successful business, often intend to pass on their...
What are the benefits of running a side business?
With the effects of the coronavirus pandemic leaving many people short on funding, some have turned to side businesses to provide them with extra...
Workplace childcare vouchers – get the best out this scheme during COVID-19
As many employees began working from home during the height of the coronavirus pandemic, they used less paid childcare, as many before school clubs...
HMRC letters remind businesses of VAT payments change
Reminder letters are being sent out to tens of thousands of UK companies explaining changes in the Making Tax Digital (MTD) system and how it...
Around 100,000 businesses “yet to register” for Making Tax Digital for VAT
Around 100,000 VAT-registered businesses have yet to register for Making Tax Digital for VAT, the latest figures have revealed. The research comes...
Cash basis versus accruals basis
If you manage a business and record its expenses and revenue, you need to find a recording system that suits you. While cash basis accounting has...
Five reasons to set up a Personal Tax Account
Taxpayers are being urged to set up personal accounts to monitor their affairs. The Association of Taxation Technicians (ATT) is encouraging...
Work from home tax relief: what employees need to know
It was confirmed this April that employees can continue to claim tax relief on work from home costs not reimbursed by employers, but only if they...
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