News
Income tax basis periods – What unincorporated businesses need to know
19 January 2022
All unincorporated businesses, including sole traders, the self-employed and trading partnerships, will be taxed on profits generated in the 12 months to 5 April (or 31 March) each year from 2024-25.
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Do you know the new UK commodity codes?
14 January 2022
From 1 January 2022, businesses may need to change the commodity codes they use for goods that they import or export overseas. The changes come after full customs controls were introduced at the beginning of this year.
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What are the new rules for importing goods into Great Britain?
06 January 2022
Full customs controls came into force on 1 January 2022 – one year after the Brexit transition period came to an end. If you import goods from Europe into Great Britain, here’s what you need to know.
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What is the Export Support Service and how can it help my business?
16 December 2021
With less than one month to go until the introduction of full customs controls, businesses are turning to the Export Support Service for crucial advice. But what is the new platform and how could it help your business?
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Prepare now for the final stage of MTD for VAT
14 December 2021
The final stage of Making Tax Digital (MTD) for VAT is just a few short months away. From 1 April 2022, even the smallest VAT registered business will need to comply with the quarterly digital recording and reporting of VAT – including those below the £85,000 VAT threshold who are voluntarily registered.
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Eight New Year’s resolutions that businesses should follow
14 December 2021
Every year many of us decide to set a New Year’s resolution. Perhaps it is losing weight, going vegetarian or putting extra money away in your savings. Of course, inevitably, life can get in the way and it is easy to lose track of the promises you set yourself.
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Homes price boom sparks a big rise in Inheritance Tax receipts – What can you do to save tax?
14 December 2021
Campaigners are angry over the fact that more and more people will be drawn into paying Inheritance Tax (IHT), after a big rise in receipts. They are angry that Chancellor Rishi Sunak has frozen the IHT nil rate band and residence nil rate band at £325,000 and £175,000, respectively, until 2026...
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PAYE Settlement Agreement can save time and costs
14 December 2021
For busy small businesses, a PAYE Settlement Agreement (PSA) offers a simpler alternative to pay your employees. It allows you to make one annual payment to cover all the tax and National Insurance due on minor, irregular or impracticable expenses or benefits for your workforce.
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Self-Assessment taxpayers warned over fraudsters trying to steal information
14 December 2021
Self-Assessment taxpayers have been warned to be on their guard against fraudsters trying to steal their information. Over the last year, HM Revenue & Customs (HMRC) received nearly 900,000 reports from the public about suspicious HMRC contact, which included phone calls, texts or emails.
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Should payments made by an employee for vehicle and uniform rental be treated as reductions when calculating the National Minimum Wage (NMW)?
14 December 2021
Well according to a recent Employment Appeals Tribunal (EAT), yes, they should. In this latest case, a taxi driver in Watford was employed by a firm, which dictated that as part of his conditions of employment he was required to provide a vehicle and uniform, both of which were rented...
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Case Studies
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Customer care is top of the list for packaging business
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A taste for growth, a thirst for knowledge
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Sometimes a business does exactly as it says on the tin
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Taxing demands with old school charm
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A modern approach required for music moguls
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Child's play with proactive accounts management
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A shared passion for architecture and a head for numbers
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Smiles all round for dental practice
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Cut above the rest in personal management style