Keeping on Top of Inflation In Your Business

by Jessica Garbett | Feb 28, 2022 | Business News

You’ve only got to pick up a newspaper or listen to a news bulletin to know that costs are rising significantly at present.  A combination of supply chain issues, pandemic recovery and global economic factors is creating a set of complex circumstances. How do...

ACCA: HMRC information and inspection powers

by Jessica Garbett | Feb 11, 2022 | Uncategorized

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA Read our guide to understanding the investigation process One of HMRC’s responsibilities is to check that the correct amounts of tax have...

ACCA: Self-assessment tax returns for Landlords

by Jessica Garbett | Jan 28, 2022 | Tax News

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA Do all landlords have to complete a tax return? The tax liability depends on the level of profits and the personal circumstances of each...

Employers – Covid SSP Recovery Portal Now Open

by Jessica Garbett | Jan 20, 2022 | Covid-19, Tax News

Back in December 2021 when Covid Omicron variant was spiking, Government announced that smaller employers would be able to recover Covid related SSP. As a recap, employers cannot normally reclaim SSP – Statutory Sick Pay – paid to employees.  However in...

Warning From HMRC on Paying Self Employed Class 2 NI by 31 January 2022

by Jessica Garbett | Jan 19, 2022 | Covid-19, Tax News

You may recall that HMRC recently announced an extension to the 2020-21 Self Assessment filing deadline from 31 January to 28 February 2022. HMRC extends Self Assessment Deadline for 2020-21 HMRC have made an announcement around paying Class 2 Self Employed NI.  Long...

ACCA: How does the base rate rise impact on HMRC’s rates?

by Jessica Garbett | Jan 14, 2022 | Tax News

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA A summary of interest rate increases On 15 December 2021, the Bank of England increased the base rate from 0.10% to 0.25%. As HMRC’s interest...

ACCA: Statutory Sick Pay Rebate Scheme

by Jessica Garbett | Jan 14, 2022 | Covid-19

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA The government is temporarily reintroducing the SSPRS to support employers facing heightened levels of sickness absence due to Covid-19 The...

ACCA – Top Ten Common Tax Elections and Claims

by Jessica Garbett | Jan 7, 2022 | Tax News

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA Common elections and claims that are useful tax planning or compliance tools Some of these claims have strict time limits, which should be...

HMRC extends Self Assessment Deadline for 2020-21

by Jessica Garbett | Jan 6, 2022 | Covid-19, Tax News

Unsurprisingly given the chaos Coronavirus continues to cause, HMRC have extended the filing deadline for 2020-21 returns from 31 January 2022 to 28 February 2022. However the payment deadline hasn’t changed from 31st January, so interest will run from 1...

Self Assessment Season – Last Minute Tips

by Jessica Garbett | Jan 5, 2022 | Tax News

The deadline for filing 2020-21 Self Assessments with HMRC is 31 January 2022, which is also the payment deadline. Lets look at some key things you should be doing now:   Filing Returns First, if you have an accountant – be it ourselves or someone else...

Christmas Hours at Whitefield & YogaTax

by Jessica Garbett | Dec 20, 2021 | YogaTax News

Our office will close be closed for the Christmas and New year Break from 3pm 23rd December, until Tuesday 4th January.   Some staff may be away from 20th onward.   If you have Companies House accounts filings due by 31 December 2021, then the approval accounts must...

ACCA – Self Assessment Returns – Using Provisional or Estimated Figures

by Jessica Garbett | Dec 17, 2021 | Tax News

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA Using estimated or provisional figures during self assessment can be a common area of concern As the self-assessment deadline approaches, a...

ACCA – HMRC Writes to SEISS Claimants

by Jessica Garbett | Dec 13, 2021 | Business News, Covid-19

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA Read the letter being sent to people who have received payments through the Self Employment Income Support Scheme From the first week of...

Business Tax – Reporting Covid Support – a Reminder

by Jessica Garbett | Nov 29, 2021 | Covid-19, Tax News

With tax season in full flow, we thought it would be useful to give a few reminders about how businesses account for Covid support from the Government. As usual, its not straight forward and there are one or two pitfalls.   The rules are different for Sole Traders,...

Voluntary NI and Self Assessment

by Jessica Garbett | Nov 29, 2021 | Tax News

With Self Assessment season for 2020-21 in full swing, its useful to revisit Voluntary NI issues, and maintaining access to State Benefits and State Pension. Entitlement to State Benefits, primarily State Pension, is currently generated from either: Class 1 National...