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ACCA – Covid roundup

by | Jul 5, 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 A look at some of the various support measures and what is changing As the country moves into the final stages of the lockdown measures, some...

Corporation Tax Rate Rise 2023 – Impact

by | Jun 2, 2021 | Tax News

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

by | May 19, 2021 | Covid-19, Tax News

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?

by | Apr 30, 2021 | Tax News

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...

Tax returns forms updated for Covid grants

by | Apr 28, 2021 | Covid-19, Tax News

HMRC has updated the tax return forms for 2021 to enable the reporting of Coronavirus Support schemes. The new returns include boxes for Self-Employment Income Support Scheme grants to allow them to be reported separately and crosschecked by HMRC. Self-Assessment:...

ACCA summary of Latest news and updates from HMRC

by | Apr 26, 2021 | Tax News

Latest news and updates from HMRC Catch up on this weeks update from HMRC on CJRS and deferment   The following quick links help navigate through the HMRC site: VAT deferral – apply now to spread your payments further   The VAT deferral new payment scheme is...

Restart Grants – April 2021

by | Mar 18, 2021 | Covid-19

In Spring Budget 2021 the Chancellor announced Restart Grants for certain businesses closed during lockdown. Details were published on 17th March 2021, in the form of Guidance for Local Authorities For Yoga Studios etc this would seem to provide a Grant based on...

Don’t miss the 1 April tax payment deadline

by | Mar 15, 2021 | Tax News

If you benefited from HMRC’s filing extension, make sure you avoid the 5% penalty Around 1.8 million individuals benefited from a hard-fought campaign which encouraged HMRC not to charge a late filing penalty – provided that returns were submitted online by 28...
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