Simplifying filing obligations
Nov 11, 2022
Are you aware of the changes to filing accounts at Companies House? If not, there are penalties for mistakes, so it is important to ensure that you are up to date with the latest information on these changes. What is changing? Under ...
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Capital Gains Tax: What do you need to know?
Nov 08, 2022
Capital Gains Tax (CGT) is a tax applied on the profit you receive when disposing of an asset. You are not taxed on the amount of money you receive, but on the gain you make. For example, if you bought something for ...
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New VAT penalty regime – What do you need to know?
Nov 04, 2022
HMRC is launching a new penalty regime where VAT returns are submitted late or VAT is not paid on time. As of 1 January 2023, these penalties will apply to anyone obliged to regularly record and report VAT information. This change reflects ...
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Supporting staff through the cost-of-living crisis
Nov 01, 2022
Many UK employers are topping up pay packets of valued employees with a cost-of-living payment when they are unable to offer a pay rise. The Chartered Institute of Personnel and Development (CIPD) summer Labour Market Outlook for 2022 found that 15 per ...
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Have you filed your online Self-Assessment form?
Oct 28, 2022
The clock is ticking for taxpayers, as the countdown to submit online Self-Assessment tax returns has begun. With less than 100 days to go, HM Revenue and Customs (HMRC) is reminding people that they have until 31 January 2023 to submit ...
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How SMEs can avoid becoming victims of fraud
Oct 25, 2022
With SMEs throughout the country struggling to grow and maximise profits, given the economic headwinds, fraud could be a major problem. According to the Metropolitan Police, fraud can come from anywhere, including: Staff members Customers Suppliers Third parties, unconnected to the ...
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Management Accounts: Why do you need them?
Oct 21, 2022
Management accounts are a set of regular reports created to provide insight on the financial performance of your business. Generally produced monthly or quarterly, they are essential to how you operate, allowing a better understanding of your current financial position, and ...
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Tax-free shopping for overseas visitors scrapped
Oct 18, 2022
Recent plans to reintroduce tax-free shopping for international visitors in the UK have been scrapped. Last month, former Chancellor, Kwasi Kwarteng reintroduced tax-free shopping as part of his mini-Budget. However, the new Chancellor, Jeremy Hunt, repealed this measure in his fiscal statement ...
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Is this the end of paper-based trading documents?
Oct 13, 2022
Did you know that an estimated 28.5 billion paper trade documents are printed and distributed across the globe every day? The Electronic Trade Documents Bill, introduced to parliament yesterday, aims to reduce this figure, as well as boost the UK’s international ...
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Flat Rate Scheme: What do you need to know?
Oct 11, 2022
When running a business, ensuring you get VAT right is vital. So, how can you make things easier? Designed to streamline record-keeping, the VAT Flat Rate Scheme allows you to pay or claim back a simplified fixed rate of VAT to ...
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