Accountancy News

HMRC – Anti money laundering email

We have had reports from clients of an email from HMRC regarding 'Your anti money laundering online supervision account' and controls and processes that you are required to have in place. It appears quite an alarming email but we have been in touch with HMRC and they...

Making Tax Digital – an update

Extension of MTD for VAT VAT-registered traders whose VATable turnover is over the VAT registration threshold of £85,000 must comply with the requirements of Making Tax Digital (MTD) for VAT. This means that they must keep digital records and file their VAT returns...

Tax changes for health and social care

Yesterday the government announced tax changes to fund £12 billion a year to be spent on the NHS and social care across the UK. National Insurance contributions (NICs) will increase by 1.25% for one year only for employees, employers and the self-employed from??...

Flexible workplaces

A Labour MP introduced a Flexible Working Bill under Parliament’s Ten Minute Rule. The Bill, if passed, will mean that employers must offer flexible working arrangements in worker contracts and “advertise the available types of such flexibility in vacancy notices.”...

Extended Loss Carry Back for Business

The Extended Loss Carry Back measure announced at Budget enables companies to make claims to carry back losses for a further two years than current rules allow. This temporary extension applies for losses arising in accounting periods ending between 1 April 2020 and...

The Spring Budget – Corporation Tax ‘ super deduction’

Under the new scheme outlined by the chancellor, from 1st April 2021 - 31st March 2023 (i.e for the next 2 years) companies will be able to claim 130% capital allowances on investments in plant and machinery Meaning that you are able to claim tax relief over and above...

Covid 19 – VAT Deferral Payment Scheme – dates and details

The Government has updated its advice for businesses that deferred VAT payments between 20 March and 30 June 2020 to include details about how to join the new VAT deferral payment scheme. HMRC announced that the new scheme, which is an online service, will be open...

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