ACCA: Extended loss carry back for businesses

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA All you need to know about the temporary extension to the trading losses carry back rules for both corporate and unincorporated businesses ...

ACCA: HMRC compliance checks

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA Anybody running a business needs to be concerned about the possibility of facing a tax inspection  New powers such as getting information...

Corporation Tax Rate Rise 2023 – Impact

As you may recall, in the Spring budget 2021 it was announced that Corporation Tax would rise to 25% in April 2023 for Companies with more than £250,000 profits.  It was also announced there would be a taper of the increased rate cutting in at a profit level of...

Accounting for SEISS grants

We’ve had some queries about how SEISS grants are taxed.  Here is a summary. First they go on your return separately – in box 27.1 if you use the Short SA103, or box 70.1 if you use the full form.  See Tax returns forms updated for Covid grants Secondly,...

Making Tax Digital – What, When and Who?

Making Tax Digital is something that business will be hearing a lot about over coming months. Our newsletter this month focused on MTD.  We’ve shared below what we had to say.  Our newsletter comes out roughly once a month, and is free – so if you would...
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