VAT Accounting Schemes

For those clients of ours, who are or looking to go VAT registered, this document details the basics of VAT, the different types of VAT schemes, and the benefits for your business. Making tax digital (MTD) came into effect in April 2022, this doesn't have to...

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Business Insider News – August 2022

This month the Insider newsletter provides a summary of the following: LACK OF AWARENESS OF TAX LIABILITY AMONG CRYPTO INVESTORS HMRC: BUSINESSES DON’T THINK MTD APPLIES TO THEM SELF-EMPLOYED STRUGGLING WITH TAX OBLIGATIONS BANK OF ENGLAND FOCUSES ON RETURNING INFLATION TO THE 2% TARGET Our full report can be found here and...

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How do changes to NICs affect you?

As some of you may know, there are changes happening to National Insurance Contributions (NICs). From 6th July, these changes will come into effect with the NIC thresholds being amended, so that both the primary threshold and the lower profits limit rises from £9,880 to...

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Business Insider News – July 2022

This month the Insider newsletter provides a summary of the following: Government Overhauls Audit Regime National Insurance Threshold Increases Recovery Loan Scheme comes to an end Taxpayers not ready for Making Tax Digital Our full report can be found here and if you have any questions please do not hesitate to contact...

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The Tax Benefit for Innovative Companies

R&D tax credits were once a little known tax incentive for companies which invested in innovation, however, in recent years they are much more widely understood and used. They are still a remarkably effective way for innovative companies to get something extra back from the...

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The Importance of Estate Planning

With the current economic situation, some may want to begin planning for managing inheritance tax, especially when considering how to plan this in the most tax-efficient way. We have prepared a guide here which explain more on Inheritance Tax Rules as well as making a Will.If you...

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Tax planning for residential landlords

Planning to take advantage of low interest rates? After a challenging year for the UK’s residential landlords, you might have read about improvements to the buy-to-let mortgage market in recent weeks. In the three months to 31 May 2021, the average interest rates for residential landlords had...

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The basics of VAT for UK businesses

An introduction to the main business tax. VAT is a business tax on the supply of goods and services. It is charged at varying rates depending on what is being supplied, who it is being supplied to and where it is being supplied to. But with Brexit,...

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The pensions lifetime allowance

How might the big freeze affect you? Traditionally, most people get nowhere near breaching the pensions lifetime allowance, but that’s likely to change over the next five years. The lifetime pensions allowance is currently £1,073,100. In his Spring Budget on 3 March 2021, however, Chancellor Rishi Sunak revealed...

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