If you have worked as a contractor over the past 12 months via the CIS scheme, you may be due a rebate. With many years of experience in working with tradesmen, we are experts in preparing and filing self assessment returns and securing rapid r.....
The UK’s rate of inflation rose unexpectedly in February 2023, data from the Office for National Statistics (ONS) has revealed. Inflation increased to 10.4% in February, up from its rate of 10.1% in January. The ONS said .....
With many Year 13 students currently completing their UCAS applications at this time of year, thoughts inevitably change to how parents will fund their offspring through the university journey. On that note, the Government has .....
HMRC has reminded young people in their teens and twenties to claim their matured Child Trust Fund (CTF) savings. CTFs are long-term savings accounts set up for every child born between 1 September 2002 and 2 January 2011. To e.....
HMRC is reminding businesses that they will no longer be able to use their existing VAT online account to submit VAT returns from 1 November. By law, all VAT-registered businesses must now sign up to Making Tax Digital (MTD) an.....
Small business is the lifeblood of the British economy yet it’s the sector that struggles the most when seeking investment to grow and prosper. HMRC’s various Venture Capital schemes, introduced by the Government to encourage privat.....
Inflation figures published by the Office for National Statistics (ONS) recently showed that inflation rose to 7% in the year to March – add to that increasing energy bills and rising food prices, and the UK is facing a major cost-of-livi.....
Whether you are looking to start, develop or even buy a business, you’ll probably need funding – which means you’ll have given some thought to the financials. But here’s the big secret to securing finance… it&rsqu.....
Our clients have been pleasantly surprised at the simplicity of the transition process – which we manage fully on the client’s behalf.
Firstly, upon engagement, we will contact your current accountant on your behalf outli.....
HMRC has warned taxpayers to avoid sharing their personal information online in order to prevent their identities being used to claim self assessment refunds.
According to HMRC, criminals are attempting to obtain taxpayers’ Gov.....
HMRC has warned taxpayers completing their 2020/21 tax returns to ‘be on their guard’ and stay vigilant in regard to tax-related scams.
Nearly 800,000 tax scams were reported in the last year, HMRC revealed, stating that .....
When it comes to our Cardiff accountants, we know that they would tell you that it is one of the most important factors for your business. So, how important is cash flow for your business? Well in this article we are going to explain why keepin.....
Adopting a tax year which is either aligned with the calendar year or with a calendar month-end would have clear benefits, according to a review from the Office of Tax Simplification (OTS). The review considers the high-level i.....
If your business has been required to close as part of the latest lockdown, then it is likely that you will be able to access some level of the Government’s Business Grants package designed to support UK businesses.
ENG.....
Just a reminder that the deadline for Self Assessment tax returns is fast approaching – returns relating to the tax year 2019/20 need to be filed online, and any tax due must be paid, by 31st January 2021. The sooner you file your return,.....
The third tranche of the Welsh Government’s Economic Resilience Fund is set to go live this week, with grant funding of up to £200k in the form of a non-repayable grants available to businesses of all sizes.
The theme of .....
Chancellor Rishi Sunak today announced his Winter Economy Plan, including a new emergency jobs scheme to protect jobs during the coronavirus (COVID-19) downturn this winter. We outline below some of the key points but to receive a copy of our l.....
The Self Employment Income Support scheme is a support package for the self employed in the form is a taxable grant based on 80% of the average of the .....
The new tax year is almost upon us! From 6th April, you’ll be able to file your 2019/20 self assessment return – and the sooner you file your return, the sooner you know what your fiscal obligations are, and can budget accor.....
The Coronavirus Business Interruption Loan Scheme (CBILS) delivered by the British Business Bank, will enable businesses to apply for a loan of up to &p.....
Last week, the Chancellor announced a new support package for the self employed (i.e. sole traders, freelancers, etc) which offers parity with the deal offered to employees receiving 80% of the.....
Rates Based Support during the Coronavirus outbreak
Some Local Authorities are now taking applications for Coronavirus support grants, based on the rateable value of the business. There are three specific areas of su.....
Under the Coronavirus Job Retention Scheme, all UK employers will be able to access support to continue paying part of their employees’ salary for those employees that would .....
We appreciate that many of you are deeply concerned as a result of the COVID-19 outbreak, and so we have put together this advice note to outline what support is current.....
Buy-to-let landlords have turned negative on their investments due to higher taxes and greater regulation, according to research from property development firm Accumulate Capital.
The research found that 37% of UK property investors .....
February already! Here are the key dates to note this month:
1 Corporation tax for year to 29/4/2018 (unless quarterly instalments apply)
19 Dea.....
Chancellor Sajid Javid’s pledge to raise the National Living Wage (NLW) over the next few years was one of a series of recent reminders that employers need to be watchful of meeting employment rights. The government’s ‘Good Wo.....
Research published recently by the Institute for Fiscal Studies (IFS) and the National Centre for Social Research (NCSR) suggested that just 45% of individuals seeking to make a financial gift are aware of the inheritance tax (IHT) rules and ex.....
Don’t forget that the deadline for submitting your 2018/19 self assessment tax return is midnight on 31 January 2020 – just three weeks away!
The only exception to this rule is if you received a notice from HMRC to make a.....
Don’t forget that the deadline for submitting your 2018/19 self assessment tax return is midnight on 31 January 2020 – just one month to go!
The only exception to this rule is if you received a notice from HMRC to make an.....
HMRC has released an updated version of the Check Employment Status for Tax (CEST) tool, which is used to determine whether a contractor should be classed.....
If you prefer to pay your self assessment taxes through PAYE, the clock is ticking as you’ll need to file online by 30th December 2019
You can pay your Self Assessment tax bill through your PAYE tax code , as long as all these .....
Here are the key dates to note this month:
1 Corporation tax for year to 28/2/2019 (unless quarterly instalments apply)
19 Deadline for receipt .....
Here are the key dates to note this month!
1 Corporation tax for year to 31/1/2019 (unless quarterly instalments apply)
2 Filing date for form P.....
1 New Advisory Fuel Rates (AFR) for company car users
1 Corporation tax for year to 30/11/2018 (unle.....
The Office of Tax Simplification (OTS) has launched a new project, which aims to explore how tax reporting and payment arrangements for self-employed people can be simplified.
Introducing the project, the OTS stated: ‘The OTS h.....
The Government Equalities Office has recommended extending the gender pay gap reporting initiative to include small and medium-sized enterprises (SMEs).
Currently, only employers with 250 employees or more are required by law to publ.....
If you are doing business in the UK as an individual, a partnership, a company, an association, a charity, a local authority or any other organisation/group of people acting under a chosen name, then you could need to register for VAT. If your .....
You could be forgiven for thinking that “accounting is just accounting” – but as Damian Evans explains, monthly management reporting can add real value to small business owners.
What is Fina.....
Where to invest spare cash depends very much on your risk/reward profile – if you prefer to play it safe and are content with dependable but low returns, then the high street banks offer a multitude of ISA type vehicles; stocks and shares.....
1st Payment of tax for companies with a 31 July year end
6 Early May Bank Holiday
19 Deadline for Earlier Year Update.....
The new tax year is almost upon us! From 6th April, you’ll be able to file your 2018/19 self assessment return – and the sooner you file your return, the sooner you know what your fiscal obligations are, and can budget accordingly &.....
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The pilot programme for Making Tax Digital (MTD) for VAT has been extended by HMRC to all businesses that meet the requirements, giving those affected time to test their systems and train staff ahead of the April deadline.
A seasonal reminder that the deadline for Self Assessment tax returns is fast approaching – returns relating to the tax year 2017/18 need to be filed online – and any tax due must be paid – by 31st January 2019. Late filing wi.....
1 Corporation tax for year to 29/2/2018 (unless quarterly instalments apply)
Here are the key dates to note this month – the last full month of the 2017/18 tax year!
1 Corporation tax for year to 29/5/2017 (unless quarterly instalments apply)
1 Corporation tax for year to 29/2/2017 (unless quarterly instalments apply)
19 Deadline for receipt of the Construction Industry Schem.....
19 Deadline for receipt of the Construction Industry Scheme (CIS) monthly return by paper, electronically or in the case of a nil.....
Well, the school Summer Holidays are officially here, but before you head for the sun, read our top tips on how to make the most of your holiday cash – that means less time balancing the budget, and more time on the beach..! Read More
7 August 2017: VAT return for Accounting Quarter period ends 30 June (if filed online)
19 August 2017:- Deadline for postal payments remittance of CIS, NICS and P.....
The essential difference is that companies are required to keep digital records in a format that can be sent to HMRC.
“They will need these eac.....
In a state over the new Flat Rate VAT rules?
The Flat Rate scheme is an attractive, simplified VAT accounting scheme applicable to many small limited companies which have low annual costs – however, changes ann.....
7 May 2017: VAT return for Accounting Quarter period ends 31 Mar (if filed online)
19 May 2017:- Deadline for postal payments remittance of CIS, NICS and PAYE to .....
5 April 2017: Deadline for claiming your PAYE tax refund for the 2012/13 tax year.
5 April 2017: Deadline for claiming tax overpaid for the 2012/13 tax year under.....
It’s the letter every taxpayer dreads – a notice from HMRC that your business or personal affairs are under investigation. We shed some light on this rather painful process to ensure that you are aware of your rights and obl.....
Tick off your tax year end checklist…
There’s around a month to the end of the 2016/17 – so here’s 4 tips to undertake in those 4 weeks that could save you a bundle in tax:
Keep ta.....
Here’s the latest HMRC tax deadlines for Q4 2016/17:
31 Deadline for online submission of Self Assessment tax returns for tax year ended 5 April 2016.
31 Deadline for paying.....
When 40% of adults say they are not in control of their finances and a further four in ten have less than £500 in savings, it’s clear the UK is facing a financial capability crisis which requires a collective response. That is why E.....
Currently only 7% of people leave a legacy to charity in their will and this may well be due in part to our system of tax breaks for donors which has been described as “bafflingly complex” – suggest deliberately so, so that th.....
A deed of gift is a signed document that voluntarily and without recompense transfers ownership of real, personal, or intellectual property from one person (or institution) to another. It should include any possible conditions specifying access.....
Where cash is tight, and your biggest debtor is HMRC, then you really need to be proactive – burying your head in the sand (i.e. binning those brown envelopes) will not cover you in glory with the taxman. Instead, ask you accountants to s.....
Money Claim Online (MCOL)
Money Claim Online (MCOL) was set up in 2001 to support government policy in making justice affordable and accessible to all. It gives individuals and businesses a low cost route to take tho.....
If you’re seeking business borrowing, the first thing any lender will do is to check your credit rating on one of the major reference agencies such as CreditSafe, MINT, Experian, etc.
Here’s a few tips for presenting your.....
If you’ve ever submitted your VAT return late and think you’ve got away with it with a mere rap on the knuckles, you may want to think again!
Whilst the first late payment does not attract a monetary penalty it’s a .....
From 6 April 2014 most employers will be able to claim a £2,000 annual allowance to set against employer’s class 1 NICs due on employees’ wages. You can claim the Employment Allowance if you are a business or charity (includin.....
It’s not an uncommon scenario – an unexpected order takes you over the VAT threshold this month. You send in your VAT registration documentation, but what do you do in the meantime regarding a VAT number for your invoices?
.....
We welcome HMRC’s decision to defer the new Real Time Information (RTI) penalty regime for employers. Instead of commencing next month at the start of the new tax year as planned, HMRC will phase the start of the new in-year late filing a.....
When considering investment opportunities, let’s face it, tax efficiency probably isn’t at the top of your checklist. Your primary consideration is probably the safety of the investment and the return it’s likely to generate. .....
The nil band (or Inheritance Tax threshold) is the amount up to which an estate will have no Inheritance Tax to pay. The band is currently £325,000 and in the case of married couples/civil partners, legislation currently allows claiming o.....
It’s a common misconception that only the self-employed business owner has to file a tax return. In actual fact, there are numerous other groups who also need to file a self assessment – for example if…
Acquiring or investing in a business is no snap decision. Lisa Entwistle-Evans outlines some of the key areas to consider before you sign on the dotted line.
Think of buying into a business as you would investing in property. You wou.....
Despite the last minute temporary relaxation to RTI requirements until 5th Oct 2013 for businesses with fewer than 50 employees, its still worth getting ready for Real Time Information (RTI) now. RTI is the new method of reporting PAYE from 6th.....
The flat rate VAT scheme is an incentive set up by HMRC to help simplify VAT accounting for certain organisations. Essentially, you charge VAT on your invoices at the current rate of 20% but only repay HM Revenue and Customs at an agreed lower .....
HMRC are looking to achieve a 2010 spending review target of raising an extra £7bn in tax by 2015. This inevitably means that they are turning their attention to investigations, undertaking detailed reviews, either on a random basis, or b.....
HMRC campaigns provide you with the opportunity to tell HMRC about any undisclosed income – essentially you have a window of opportunity to voluntarily put your tax affairs in order and pay what you owe. But be warned that if you owe tax .....
For a little less stress, send your 2011/12 Self Assessment our way…don’t forget that you only have until 31st Jan 2013 to file your return, and failure to submit on time incurs an automatic £100 penalty, even if no tax is du.....
When its a van! It’s not usually tricky to know your cars from your vans, but there are a few vehicles on the market which seem to blur the line – and the difference is actually important as your company cannot reclaim VAT on a comp.....
Whilst the rest of the office may be getting out their glad rags for a well-deserved Christmas party, if you’re in charge of the chequebook, the following snippets on staff entertaining might bring you a little festive cheer.
T.....