Accountancy News

Tax Return Deadline – 31st January 2022

A friendly reminder that the deadline for self-assessment for income to the 5th April 2021 is 31/01/2022 Failure to meet this deadline results in an automatic late filing penalty of £100 If you are filing your own self-assessment return then we would urge you to do...

SEISS and Covid Grants

Please remember that Covid grants, including SEISS, are taxable and must be included on your tax return. HMRC have a record or what you received (if you received any) allocated to your unique tax reference (UTR) and they will expect to see these amounts declared on...

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...

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