11-02-2022
Government restrictions for UK employees to work from home ended 19 January 2022. For many workers, this is music to their ears. They can pick up their favourite coffee for their commute and catch up with colleagues in the flesh. However, the day that we see everyone getting back to the office is unlikely to happen soon.
Find out more
07-02-2022
Visiting our offices is by appointment only. The safety and protection of our clients and team members have always been our top priority throughout the pandemic. As we now adjust to the “new normal,” this is more important than ever. In common with many organisations, we have adopted a hybrid-working policy. Our team members are
Find out more
01-02-2022
Employers submit a P11D form to HM Revenue & Customs (HMRC) at the end of every tax year. A P11D outlines the benefits or expenses you have provided to your employees outside of their wages. You must submit a P11D form by 6 July following the end of the tax year. At the same time,
Find out more
01-02-2022
New Year, new career? Many people lost their jobs during the pandemic or decided to take a new career journey by setting up a new business. We take a look at the start-up trends for 2022. Whether it is a full-time endeavour or a part-time side hustle, people are looking for ways to make extra
Find out more
01-02-2022
Do you own a second home? Be careful of the new tax rules on holiday lets or you could end up facing tough measures. It was recently announced that the Government would reform business rates relief for owners of second homes – resulting in some holiday let owners facing additional costs of up to £1,000
Find out more
01-02-2022
Two company directors have received a ban totalling 21 years after fraudulently claiming £100,000 in bounce back loans (BBL). Following an investigation by the Insolvency Service, Aamer Aslam from Huddersfield and Razwan Ashraf from Keighley were disqualified for 11 and 10 years respectively. The duo were co-directors of Scholars Academy Ltd, a specialist tuition centre
Find out more
01-02-2022
The MTD (Making Tax Digital) pilot scheme for the next phase of the HM Revenue & Customs (HMRC) initiative has seen a drastic slump in users. Self-employed businesses and landlords with annual business or property income above £10,000 will need to follow the rules for MTD for Income Tax and Self-Assessment (ITSA) from 6 April
Find out more
01-02-2022
According to the Federation of Small Businesses (FSB) survey, more than 440,000 small businesses could fail because of a new late payment crisis. The national small business organisation has called for the Government to step in and take urgent action to improve how companies are paid. According to the FSB study, 30% of small businesses
Find out more
01-02-2022
Are you setting up a new business, or already a well-established company? Did you know that there are ways you can save money through tax reliefs and allowances. Certain tax initiatives even allow business owners to save money that they can reinvest back into their company. Enhanced Capital Allowance (ECA) ECA schemes encourage businesses to
Find out more
05-01-2022
Are you an unincorporated company? Watch out for the income tax basis period reform. All unincorporated businesses, including sole traders, the self-employed and trading partnerships, will be taxed on profits generated in the 12 months to 5 April (or 31 March) each year from 2024-25. Here is what you need to know about the income tax
Find out more
05-01-2022
Under new rules set by the Government, the system of penalties for VAT and Income Tax Self-Assessment (ITSA) are changing. The new system of fines is aimed at tackling non-compliance by taxpayers who repeatedly fail to meet their obligations to provide returns and other information requested by HMRC. Those who make occasional and infrequent mistakes
Find out more
05-01-2022
At the start of 2021, there were estimated to be 5.6 million UK private sector businesses. Small and medium-sized enterprises (SMEs) are the lifeblood of the country, accounting for 99.9 per cent of all businesses across the UK. According to a survey commissioned by Sage, SME's acknowledge that their operations would struggle to function efficiently without
Find out more
