02-07-2021
Penalties for late submission and late tax payments will be determined by a new points system to make them fairer and more consistent, HM Revenue & Customs (HMRC) has announced. Under the new system, penalties will be points-based rather than automatic. This means that those who consistently miss deadlines will accrue more points – and
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02-07-2021
The next big step in the Government’s Making Tax Digital (MTD) initiative is rapidly approaching. From 6 April 2023, MTD is expanding to include businesses and landlords with a combined total gross income over £10,000 per annum, from the following sources: self-employment partnerships UK property overseas property. The changes mean affected taxpayers will have to keep
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02-07-2021
From April 2023, the Corporation Tax rate will rise for companies with profits of more than £50,000, following the Chancellor’s announcement at his Spring 2021 Budget. However, the new higher rate of Corporation Tax will not be the same for all companies and will instead be tied to their profits. Companies generating profits of £250,000
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16-06-2021
Effective 1 January 2021, all EU citizens (excluding Irish citizens) no longer have the automatic right to work in the UK. European nationals and their families who arrived in the UK before 31 December 2020 must apply for the EU Settlement Scheme (EUSS) by 30 June to continue living and working in the UK. Individuals
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08-06-2021
Goodbye Oxford House, Hello btc Stevenage! From Thursday 1 July, our Accounting Support team will have a new home. After 10 years at Oxford House, Caxton Way, we are moving our Stevenage office. But don’t worry, our new office space is just down the road! In light of the COVID-19 pandemic and our commitment to
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03-06-2021
For ETL UK Partner Spotlight Series, Statutory Partner, Ian Saunders, highlights an often overlooked requirement of the UK Companies Acts. As a Chartered Secretary, Ian specialises in the whole area of Company Secretarial work and has managed the Statutory department at Wilder Coe for the last 23 years. He understands the issues companies face handling
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02-06-2021
HR Manager, Bal Dhesi, explains her cost-effective and straightforward tips to help employers improve their bottom line through investing in employee wellbeing initiatives. "Investing in the wellbeing of your team can reduce sickness absence, improve productivity and reduce turnover. Many studies show how implementing workplace wellness initiatives that promote healthier lifestyles. Considering the work-life balance
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01-06-2021
Both the Bank of England and the UK’s leading business members’ organisation believe the economy is set to take off after the vaccine bump. GDP (Gross Domestic Product) is expected to rise sharply in the second quarter as lockdown eases. Bank economists say this is a result of the vaccine rollout and the fastest predicted
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01-06-2021
Putting together an efficient tax strategy should be a no-brainer for buy-to-let landlords seeking to maximise their income. It may not be quite as glamorous as hunting down the perfect property, but when it comes to saving cash, it can make a huge difference to your bottom line. There are several ways you can reduce
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01-06-2021
The second part of a sweeping Capital Gains Tax (CGT) review has been published with 14 key recommendations. In July 2020, the Chancellor asked the Office of Tax Simplification (OTS) to carry out a review, to “identify opportunities relating to administrative and technical issues as well as areas where the present rules can distort behaviour
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01-06-2021
For many businesses, the pandemic has turned the world on its head, with many who might have expected to be profitable experiencing a loss. Sometimes losses happen simply because the business is very new, or because costs have unexpectedly risen. However, COVID-19 has thrown another dimension into the mix, seeing thousands of companies fail to
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01-06-2021
There are many problems associated with the pandemic, apart from the obvious one of the illness caused by the virus itself. Conmen and scammers have taken advantage of the situation, bombarding people and businesses with bogus claims about tax owed in the hope that just a few respond. For businesses, the accountant is the first
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