by admin | Oct 14, 2021 | HMRC, Tax, VAT
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...
by admin | Sep 9, 2021 | HMRC, Tax
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??...
by admin | Jul 6, 2021 | Business, Tax, Tax Planning
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...
by admin | Oct 7, 2020 | Accountancy, Business, HMRC, Self Employed, Tax, VAT
Job Support Scheme A new Job Support Scheme will be introduced from 1?? November to protect jobs where businesses are facing lower demand over the winter months due to coronavirus (COVID-19). Under the scheme, which will run for six months, the government will...
by admin | Jun 30, 2020 | Business, Self Employed, Tax, Tax Planning
HMRC have begun to send out statements in advance of the 31st July 2020 payment on account. As part of the Covid-19 assistance to individuals, the government allowed the July payment on account to be deferred until January 2021. If you receive a statement from HMRC,...
by admin | Mar 10, 2020 | Albert's Knowledge Share, HMRC, Self Employed, Tax
Employees are required to pay income tax on any benefits that they receive from their employer. The benefit in kind for company cars is calculated based on the car’s C02 emissions and the list price of the vehicle. From 6 April 2020, the benefit in kind for fully...
