Latest News and Updates

business insurance rates rise due to covid19
The impact of the pandemic has been felt in many different ways. Some of the effects have been quite immediate, but now many businesses are starting to see how the events of the last year are affecting their annual business insurance rates as well. Before COVID-19 struck, there were already a number of factors adversely
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EV salary sacrifice schemes
Businesses looking to reward and retain staff members may wish to consider offering an electric vehicle (EV) salary sacrifice scheme. Not only are many EVs better for the environment, but they could also offer businesses considerable savings. Businesses can use employee salary sacrifice – similar to schemes offered for pension contributions, cycle to work schemes
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Companies House consultations
A set of consultations on the future of Companies House published in December 2020 include proposals for mandatory digital filing, requirements to tag accountants digitally with IXBRL and shortening filing deadlines to three months for public companies and six months for private companies. The Department for Business and Industrial Strategy (BEIS) is also seeking feedback
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Companies House strike-off processes
Companies House will pause both the voluntary and compulsory strike-off processes for one month from 21 January until 21 February to support businesses affected by COVID-19, it has been announced. The extended measure comes in response to delays to the system caused by the third national lockdown. In a notice to customers, Companies House said
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claim working from home tax relief
Due to the ongoing restrictions of the Government’s Coronavirus response, millions of UK workers continue to work from home. Many may not be aware that they can claim tax relief for additional household costs if they are working from home regularly, either for all or part of the week because of the pandemic. This tax
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Private Sector IR35 April 2021
Large and medium-sized businesses now just have a couple of months left to prepare for the changes to the off-payroll working rules (IR35). From 6 April 2021, in most cases, the engager (employer) will be responsible for deciding IR35.  If caught inside IR35, then the engager must deduct tax and National Insurance Contribution (NICs) from
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VAT reverse charge construction industry scheme
From 1 March 2021, businesses within the Construction Industry Scheme (CIS) must record, report and pay VAT under the new VAT domestic reverse charge rules. This change affects both contractors and subcontractors and the supply of certain kinds of construction services in the UK. Under the new rules, VAT registered subcontractors who provide a service
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high income child benefit charges
Due to a mismatch of earnings thresholds, basic rate taxpayers may unexpectedly come under the scope of the High Income Child Benefit Charge in April. The Low Incomes Tax Reform Group (LITRG) has issued a warning to families that they may be subject to a tax charge when claiming Child Benefit due to a discrepancy
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Rewiew and outsource your payroll processes
You are not alone. Did you know that 48% of businesses introduced changes to their payroll processes due to COVID-19? A YouGov study in November 2020, conducted by IRIS Software Group, has looked at the impact the pandemic has had on small businesses and how they have managed their payroll. According to the survey, 29%
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Man using audit technology to improve data quality
A recent consultation conducted by the Financial Reporting Council (FRC) lists training and skillsets as the top concerns for using technology to enhance audit quality. The use of artificial intelligence (AI) and machine learning (ML) is increasingly popular for improving audit quality. However, several audit firms and professional bodies who responded to the consultation point
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Propelling the next generation with the kickstart scheme
In its first month, the Government's Kickstart Scheme has created 19,000 jobs and, 4,359 employers apply across Great Britain, with more business applications accepted each week. This initiative will cost £2billion and will create 250,000 job opportunities. The Kickstart Scheme is an ‘innovative way to help young people to work and spur Britain’s economic revival’,
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female with glasses reviewing HR polices for employee retention
With many businesses focussing on reducing their workforce, employee retention may not be a business owner’s priority. However, having a high staff turnover will impact your cash-flow, so retaining your talented, skilled workforce is key to your business’s recovery. So, what employee retention strategies should you put in place? Appreciate your employees Perhaps a simple
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A forensic accountant is a valuable connection to have in your arsenal. However, why is it essential for you to have access to forensic accounting? You want a trusted professional who delves deep into the inner-financial workings of a business and gathers impartial unbiased evidence. A forensic accountant can help to uncover the truth and
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