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Autumn 2021 Budget and Spending Review

by | Oct 27, 2021 | Tax News

Here is our preliminary review of todays (27ths October 2021) Budget and Spending Review. The two big tax changes funding Covid recovery were already known, viz the Health and Social Care Levy and the Corporation Tax changes coming in from April 2023.  To recap:...

ACCA: Late-payment penalty calculations

by | Oct 22, 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 We explain the changes to penalties for VAT and ITSA Last month, an ACCA article highlighted the proposed new points-based penalty regime for...

Right to Work

by | Oct 8, 2021 | Business News

A fall out from Brexit is around right to work issues. For UK employers there was a six month grace period for checking Right to Work status of EU citizens.  This has expired now, and UK employers have to check EU citizens’ right to work in the UK, as they would...

VAT and Brexit

by | Oct 4, 2021 | Tax News

Although it was clear VAT would be impacted significantly by Brexit, the prolonged exit negotiations and the last minute “deal” with the EU, alongside the pandemic, all conspired to mean that there wasn’t a great deal of time to prepare for VAT...

Social Care Funding Reforms – aka Tax Rises

by | Oct 1, 2021 | Tax News

On 7th September 2021 the Prime Minister broke a Manifesto Commitment and announced rises to National Insurance in order to fix Social Care costs. Of course its right to suspect that this may just be a sticking plaster – health and social care can be a near...

ACCA: The final furlough

by | Sep 24, 2021 | 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 Coronavirus Job Retention Scheme will end on 30 September 2021. What next? Claims for September must be submitted by 14 October 2021 and...

ACCA: Fifth SEISS grant – key checks to make

by | Sep 24, 2021 | Covid-19

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA How to check eligibility, and the turnover test Applications for the fifth Self-employment Income Support Scheme (SEISS) are open for...

ACCA: New points-based penalties system

by | Aug 24, 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 The Finance Act 2021 reforms the penalty regime for VAT and income tax self-assessment to make it fairer and more consistent The new late...

ACCA: Extended loss carry back for businesses

by | Jul 19, 2021 | Business News

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

by | Jul 15, 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 Anybody running a business needs to be concerned about the possibility of facing a tax inspection  New powers such as getting information...