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HMRC has published the latest advisory fuel rates (AFR) for company car users, effective from1st June 2021, increasing mileage rates by 1p for all petrol vehicles
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If you’re newly self-employed then you may not know that you can deduct some expenses costs to work out your taxable profit, as long as they’re allowable expenses.
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The end of the financial year can be stressful for small business owners, but our year-end accounting checklist will help you transition smoothly into the 2021/2022 tax year.
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Smaller businesses can apply for grants of up to £2,000 to help them adapt to new customs and tax rules when trading with the EU. The SME Brexit Support Fund could give you up to £2,000 to help with training or professional advice, if your business has up to 500 employees and no more than £100 million annual turnover.
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In his recent Budget, the Chancellor announced that self-employed people who had submitted their 2019/20 tax return midnight on 2nd March could apply for the fourth and fifth grants. So far, so good: but what he didn’t mention were the stringent, new SEISS pre-verification checks he has put in place.
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Earlier this week, Chancellor Rishi Sunak announced a broad range of measures to support businesses and households including details of how the ongoing support will be financed.
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March and April represent the most common financial year ends, which means that many people will soon be reaching the end of their accounting and tax year.
Click here to find out more about our top tips for getting prepared....
The Domestic Reverse Charge was due to be introduced in October 2019 but was twice delayed due to Brexit and Coronavirus but will now come in from 1st March.
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Despite recessions, high unemployment levels, and business failures, you may be surprised to know that a crisis can also create entrepreneurial opportunities.
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Most taxpayers do not have to fill in a tax return. If HMRC thinks you are paying the right amount of tax through the Pay As You Earn (PAYE) system on your wages or salary, or on an occupational pension, they will not send you a tax return but we always advise checking to make sure, otherwise you could face a £100 penalty.
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SEISS - which stands for Self-Employment Income Support Scheme - is an emergency scheme intended to help millions of self-employed people during the coronavirus pandemic. The claims process for the third grant opened this week, however there are new rules when it comes to the criteria.
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Further to the announcement of the second lockdown, the Chancellor has announced an extension to the Furlough Scheme, as well as changes to the Self-Employed Income Support Scheme.
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The Job Support Scheme has been created to support individuals and businesses to better deal with the challenges created by the coronavirus (COVID-19) pandemic, during the winter months. The government is providing additional support to help employers retain their employees through the JSS with the scheme coming into effect on 1st November.
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Do you have employees that are working from home due to the coronavirus pandemic? If so then they may be eligible to claim tax relief for additional expenses incurred as a result of home woking.
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The Chancellor, Rishi Sunak has unveiled government plans to protect jobs and support businesses over the coming months.
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Emergency brake likely to be applied on increase to National Minimum Wage in April 2021 due to fallout from ongoing coronavirus pandemic.
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The Kickstart Scheme is a £2 billion investment by the government to try and prevent young people in a difficult jobs market from becoming reliant on Universal Credit, long term.
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The Government's Job Retention (Furlough) Scheme is now well and truly in it's wind down phase with the final two months seeing consecutive percentage drops in Government contribution.
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This week's Friday wrap looks specifically at the Furlough Scheme. How will the wind down work between August and the end of October? When does the Job Retention Bonus kick in?
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Crowdfunding can be a super powerful tool for businesses that wish to start-up, grow or evolve however we find that there's often a lot of people that find themselves confused about whether crowdfunding is a taxable income, VATable or considered as a straightforward donation?
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This week's Friday wrap up is specially for restaurants and cafes.
Have you heard about the 'Eat Out to Help Out' scheme which kicks off on Monday 3rd August? If not then read on to find out how this scheme could benefit your business.
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For our Friday wrap up, we take a look at the latest Summer Statement laid out by the Chancellor with the hope of offering clarity on what this could all mean for you and your business...
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The deadline has been set for Monday 13th July, by which time you will need to ensure that you have submitted your SEISS application in order to receive the support grant.
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If you’re due to make a payment on account of Income Tax on 31st July 2020 then you have the option to defer the payment until 31st January 2021 if you are struggling to pay due to the impact of COVID-19.
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It's easy to become overwhelmed with keeping your accounts up to date when your busy running the day to day operation of your business. We've put together these 'Top10' tips that will help get your systems back on track and keep your business running smoothly behind the scenes.
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The announcement of the delay in the introduction of this new legislation is largely due to the impact of the coronavirus pandemic on the construction sector meaning that the VAT change will now not apply until 1st March 2021
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Last week saw updates made to both the Furlough & SEISS schemes, laid out by the Chancellor of the UK Government. Read this article to find out more about these changes, dates of implementation and important submission dates.
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Thousands of high-earning parents who opted out of receiving child benefit could now be eligible to claim, if they experience a drop in income due to the coronavirus outbreak.
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HMRC extends Make Tax Digital (MTD) ‘digital links’ deadline until 2021 due to Coronavirus outbreak.
Working from home may have seemed shiny and exciting at the start but overtime you may come to realise that working from home takes a lot of discipline and organisation to be successful.
With the help of some of our wonderful social media followers, we’ve curated a wonderful list of ‘top tips’ to ensure success and productivity.
The Chancellor, Rishi Sunak has announced emergency measures to help the self-employed who have been adversely affected by the coronavirus outbreak. Here's more information how to apply for a grant.....
With the COVID-19 situation evolving daily and new support being put in place by central government at an unprecedented rate, we felt it may be helpful put all the information we currently know in one place....
Today’s the perfect day to ‘flip’ your view on working with an accountant and learn how this key professional relationship can really help to grow your small business…
The way that VAT is charged on construction services which are supplied on or after 1st October 2019 is changing. Find out more in our latest blog...
Making Tax Digital came into force on 1st April 2019. If you are
one of the many people left wondering if and how this applies to you, please read on...
Why this should be your New Year's resolution...
