Following a surge in enquiries due to the pandemic, HM Revenue & Customs (HMRC) has announced it must prioritise its essential services by temporarily closing telephone hotlines. HMRC will focus on stabilising phone and tax credits/child benefits services, taking extra steps to meet targets and supporting at-risk customers. During December, the tax authority ran tests […]

Taxpayers who received Coronavirus business support must remember that COVID-19 grants or payments are taxable and must get declared on company tax returns.  HM Revenue & Customs (HMRC) has issued a reminder that the filing deadline for company tax returns (CT600) is 12 months after the end of the accounting period it covers. The deadline

Your cash flow statement provides data about all the money inflows your company receives from operations and is a fundamental part of the financial statements.  Alongside your balance sheets and income statements, it is vital for managing your small business accounting. It keeps you abreast of how much cash is entering or leaving your business

While the national job vacancy boom is good news for job seekers, it is a potential nightmare for businesses keen on retaining high-quality staff. While a pay rise is always welcome by many, it is not always the most tax-efficient approach for business owners. Other benefits, such as salary sacrifice schemes, are equally effective in