News

I am an overseas seller selling directly to UK customers - do I need to register for VAT?
15 July 2021

Are you selling goods directly to UK customers after 1 January 2021? Follow this handy guide to help decide whether you need to register for VAT in the UK. For further information, please get in touch with our expert team.
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Time to prepare for Corporation Tax changes
13 July 2021

From April 2023, the Corporation Tax rate will rise for companies with profits of more than £50,000, following the Chancellor’s announcement at his Spring 2021 Budget. However, the new higher rate of Corporation Tax will not be the same for all companies and will instead be tied to their profits.
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Making Tax Digital for Income Tax – Get ready now!
13 July 2021

The next big step in the Government’s Making Tax Digital (MTD) initiative is rapidly approaching. From 6 April 2023, MTD is expanding to include businesses and landlords with a combined total gross income over £10,000 per annum, from the following sources...
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Points-based system for HMRC late payment penalties
13 July 2021

Penalties for late submission and late tax payments will be determined by a new points system to make them fairer and more consistent, HM Revenue & Customs (HMRC) has announced. Under the new system, penalties will be points-based rather than automatic. This means that those who consistently miss deadlines will accrue...
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Take account of your year-end tax liabilities
13 July 2021

Payments on account are advance payments towards your tax liability for the year, if you complete a UK Self-Assessment tax return and is a way of settling tax owed. The two deadlines for the self-employed to pay their tax bills are 31 January and 31 July of each year. These two payments are made during the year...
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Director’s ban a warning to others to keep proper company records
13 July 2021

A payroll services boss has been banned for orchestrating a multi-million-pound tax avoidance scheme. The case puts a spotlight on company owners and should serve as a reminder that they are subject to strict conditions over keeping records.The High Court issued a disqualification order lasting 11 years to the sole...
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Don’t miss the deadline for renewing tax credits
13 July 2021

Unlike other benefits, tax credits usually have to be renewed each year by 31 July to continue receiving payments from HM Revenue & Customs (HMRC). If you are claiming tax credits, it is really important to look carefully at the information you receive. Even if you have stopped getting tax credits, you still need to check...
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A helping hand with the cost of children’s summer activities
13 July 2021

Parents faced with the financial headache of childcare over the long school summer holidays are reminded they can get support from the Government. HM Revenue & Customs (HMRC) is reminding working families that they can use Tax-Free Childcare to help pay for their childcare costs over the summer.
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Guidance for the fifth round of the Self-Employment Income Support Scheme (SEISS) published
09 July 2021

HM Revenue & Customs (HMRC) has published detailed guidance for the fifth round of the Self-Employment Income Support Scheme (SEISS), which will open for claims in the coming weeks. Instead of announcing a specific date on which the new round of the scheme will go live, HMRC will contact self-employed individuals it has...
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What the Northern Ireland protocol extension for “chilled meats” means for British businesses
08 July 2021

It was revealed last week that an extension to the Northern Ireland Protocol grace period for chilled meats had been agreed upon. But what does this mean for businesses exporting goods to Northern Ireland? Here’s what you need to know.
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