Fraudsters are continuing to target taxpayers with scam emails, texts, and calls following the deadline for submission of Self-Assessment returns for 2020-21. In fact, over the last year, HMRC received more than 570,000 reports about suspicious HMRC … Continue reading Scammers Target Self-Assessment Taxpayers
The Chancellor, Rishi Sunak, has delivered his Spring Statement designed to address the growing cost of living crisis. The Chancellor also stressed that, apart from the untold human suffering, the Russian invasion of Ukraine is creating further … Continue reading Spring Statement addresses cost of living crisis
If you are an employee, you may be able to claim tax relief for using your own vehicle, be it a car, van, motorcycle, or bike. There is generally no tax relief for travel to and from your place of work. The rules are different for temporary … Continue reading Claiming for business use of own car or van
Automatic enrolment for workplace pensions has helped many employees make provision for their retirement, with employers and the government also contributing to making a larger pension pot. The law states that employers must automatically enrol … Continue reading Auto-enrolment for care workers
It is not long until the current 2021-22 tax year comes to an end and there are a number of year-end payroll chores that must be completed. This includes sending a final PAYE submission for the tax year. The last Full Payment Submission (FPS) needs … Continue reading Reminder of payroll year-end tasks
When a couple separates or divorces it is unlikely that they are thinking about any tax implications. However, apart from the emotional stress, there are also tax issues that can have significant implications. For example, when a couple is … Continue reading Transferring assets during a divorce or separation
We would like to remind our readers that the increases in National Insurance Contributions (NIC) of 1.25% - first announced last year - will take effect from April 2022. These increases will be ring-fenced to provide funding for the NHS, health, and … Continue reading National Insurance increasing April 2022
If using the VAT Flat Rate scheme, businesses pay VAT as a fixed percentage of their VAT inclusive turnover. The actual percentage used depends on the type of business. The scheme has been designed is to simplify the way a business accounts for VAT … Continue reading VAT Flat Rate Scheme: Everything You need to know
The ultimate aim of every serious business person is to build a company that has value, so that it can be sold or transferred, allowing the entrepreneur to exit gracefully and profitably. Recently, we have been helping a number of our entrepreneur … Continue reading Have you considered your exit strategy?
In an uncertain world, we explore what you can do to safeguard your savings. Previous taxpayer bailouts for collapsed banks serve as a reminder of the fragility of financial services, and savvy savers should take reasonable steps to make sure their … Continue reading How safe are your savings?
HMRC is encouraging more employers to payroll employee benefits in kind rather than declaring benefits on the end of year P11D. They have included guidance on registering to use the scheme in their latest employer bulletin. If employers haven’t … Continue reading Payrolling Benefits In Kind
National Insurance credits can help qualifying applicants fill gaps in their National Insurance records. This can assist taxpayers to build the number of qualifying years of National Insurance contributions which can increase the number of benefits a … Continue reading Do you have gaps in your National Insurance record?