Tourism Tax – Will it help or hamper small tourist businesses?
Several cities, including those in the UK and the EU, are considering introducing a tax on visitors.
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What can you do to help your employees? Handy tips to help them cope with the cost of living crisis
With the ongoing cost of living crisis, people are continually looking for ways to save money. Whilst buying discounted food, choosing cheaper brands of clothing, or strategically filling the car up are all ways you can cut costs, there are…
How can SMEs handle the cost of living crisis?
The current cost of living crisis in the UK has already seen the economy decline, with customers saving money and consuming less.
The recipe to business success and how to deal with it
Everyone dreams of that moment when they realise that their business is growing and succeeding.
Divorce & Capital Gains – Changes from 6 April 2023
At present, separating spouses must transfer assets between themselves by 5 April in the tax year following the date of separation in order to claim exemption from capital gains. This has always been deemed too short a period for separating…
Penalties for businesses failing to comply with Making Tax Digital
Are you signed up to Making Tax Digital for VAT? Failure to do so will result in penalties from 1 November 2022, HRMC has confirmed.
More than 90 businesses created every hour
A new survey has revealed that 93 new businesses were created every hour across the UK in the first half of 2022. According to the data, despite economic headwinds, rising inflation and rocketing energy costs, the number jumped by 18…
Families missing out on financial support as children return to school
With the new school year fast approaching, HM Revenue and Customs (HMRC) is prompting families to make use of up to £2,000 a year towards their child’s wraparound care.
Interest rate hike puts pressure on taxpayers behind on payments
In light of the recent increase in the Bank of England’s base rate, HM Revenue & Customs (HMRC) has announced a rise in interest on both late paid tax and repayments of tax.
Planning is key for owner-managed businesses
Being your own boss is a dream for a lot of individuals, however, the reality of running your own business can be stressful.
Tax year basis reform: How does this change affect me?
In the second blog of this series on tax year basis reforms, we will examine how these changes could affect unincorporated businesses.
Help to Grow: Digital Scheme receives a boost
More than a million businesses can now benefit from Help to Grow as the eligibility criteria has been expanded to cover businesses with at least one employee.
Tax year basis reform: Should I change my year-end?
In the first blog of this series on tax year basis reforms, we will be discussing the new rules that will affect how unincorporated businesses are taxed from 2023 to 24 and consider whether it is worth changing your accounting…
Newsletter July/August 2022
What is employment? The Court of Appeal has for the first time ruled on employment status under the intermediaries legislation (often known as IR35) in two cases – and agreed with HMRC in both. In each case, the terms of…
New VAT Registration Service (VRS) set to launch
HMRC is introducing a new VAT Registration Service (VRS), it has been revealed.