How would an Online Sales Tax affect your business?

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How would an Online Sales Tax affect your business?

Mar 01, 2022

The UK Government is set to assess whether to introduce an Online Sales Tax (OST) as a solution to the tax imbalance in the retail sector. Why is there a tax imbalance? Throughout the pandemic, the retail sector was heavily impacted by ...

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Blog, Tax

Here’s how you can claim the 2022 council tax rebate

Feb 24, 2022

Households must set up a direct debt with their local council before they can receive the 2022 council tax rebate, it has been confirmed. The notice comes after the Government announced that millions of families in England will be eligible to ...

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Blog, Personal accounting, Tax

Nearly 100,000 taxpayers spread cost of tax bill into manageable monthly instalments, HMRC reveals

Feb 17, 2022

Nearly 100,000 taxpayers used HM Revenue & Customs’ (HMRC) Time to Pay self-serve facility to spread the cost of their 2020/21 tax bill, it has been revealed. The figures, published by the tax authority, come after the 31 January Self Assessment ...

Blog, Business accounting, SMEs, Tax, VAT

Benefits of cloud accounting software far outweigh costs, study reveals

Feb 11, 2022

Cloud accounting software adopters are more likely to experience the benefits of Making Tax Digital (MTD) for VAT than those using only bridging software, a new study has revealed. The research, published by HM Revenue & Customs (HMRC), comes ahead of ...

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Blog, Tax

Cryptocurrency and working out your tax liabilities

Feb 03, 2022

Cryptocurrencies are proving volatile at the moment with values tanking and then picking up again as the market fluctuates. But with an estimated more than two million currency holders in the UK, many may not be aware of their tax obligations ...

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Blog, SMEs, Tax

Businesses that do not use MTD for VAT make more errors than those that do, study reveals

Jan 13, 2022

Small and medium-sized enterprises (SMEs) that do not use Making Tax Digital (MTD) for VAT make more errors than those that do, a major study has revealed. The research, published by HM Revenue & Customs (HMRC), comes before the introduction of ...

Blog, Business Advice, Tax

The Christmas gift allowance: how it works

Dec 17, 2021

If you are planning on treating staff this Christmas, here’s a brief guide to the tax rules for the 2021/22 financial year. Do gifts count as taxable income? Christmas presents paid in cash to staff qualify as taxable earnings, which means they ...

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Blog, Tax

Tens of thousands of taxpayers spread out Self Assessment tax bill in wake of coronavirus pandemic

Dec 09, 2021

Tens of thousands of self-employed workers have used HM Revenue & Customs’ (HMRC) Time to Pay service to spread out tax bills, the latest figures have revealed. The Time to Pay facility has offered a lifeline to those who may struggle ...

Blog, Tax

Be aware of tax liabilities if you are using cryptocurrencies

Nov 30, 2021

To many, cryptoassets, which includes cryptocurrencies, are an enigma shrouded in mystery. Whether we are talking about Bitcoin, Dogecoin, Litecoin, blockchain or mining, most people will not have a clue. But for those who have dabbled in the market, it’s important ...

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Blog, HMRC, Tax

Almost 800,000 tax scams reported to HMRC in past 12 months, figures reveal

Nov 19, 2021

Nearly 800,000 tax-related scams were reported to HM Revenue & Customs (HMRC) in the past 12 months, a major study has revealed. The figures come as the tax authority prepares to send millions of emails and text messages to taxpayers ahead ...

Tax