Bookkeeping, Accountancy and Taxation services
There are late filing penalties that are designed to encourage companies to file their accounts and reports on time. All companies, private and public, large or small, trading or non-trading must file their accounts at Companies House. The late … Continue reading Companies House Late Filing Penalties
Advisory fuel rates are intended to reflect actual average fuel costs and are updated quarterly. The rates can be used by employers who reimburse employees for business travel in their company cars or where employees are required to repay the cost of … Continue reading Updated Advisory Fuel Rates
Since 1 January 2021, businesses registered for VAT have been able to account for import VAT on their VAT return, often referred to as postponed VAT accounting. For most businesses, this means that they can declare and recover import VAT on the same … Continue reading Postponed VAT Accounting
There are special procedures for importing goods into the UK. Following the end of the Brexit transition period on 31 December 2020, the process for importing goods from the EU effectively mirrors the process for all non-EU international … Continue reading Customs Declarations Are Changing
To build a high-performing business, managers need to cultivate trust among the whole team. Trust is the glue that sticks the team together in any business. Trust is built through transparent and authentic leadership. For example, if things don’t … Continue reading Top tips for building trust in your team
The low-emission vehicles plug-in grant can help you save up to £2,500 on the purchase price of new low-emission vehicles. The scheme was first launched in 2011 and is available across the UK with dealers using the grant towards the price of eligible … Continue reading Plug-in grants for electric vehicles
Any taxpayers that have ceased to be self-employed must advise HMRC of their change in status. There are a number of steps that must be followed if a taxpayer stops trading as a sole trader or if they are ending or leaving a business partnership. … Continue reading What do you do if you cease trading as a sole trader or partnership?
A tax calculation is created by HMRC if you have not paid the right amount of tax. HMRC’s annual reconciliation of PAYE for the tax year 2020-21 is now almost complete. HMRC uses salary and pension information to calculate if you have paid the … Continue reading What Is A Tax Calculation?
The Check Employment Status for Tax (CEST) tool can be used to help ascertain if a worker should be classified as employed or self-employed for tax purposes in both the private and public sectors. The service provides HMRC’s view of whether IR35 … Continue reading IR35: Introducing CEST
There are a number of reasons why you might need to complete a Self-Assessment return. This includes if you are self-employed, a company director, have an annual income over £100,000, and/or have income from savings, investment, or … Continue reading Who Needs To Register For Self-Assessment?
The definition of a connected person for tax purposes includes certain relatives, trustees, partners, and companies. A person is connected with an individual if that person is the individual’s spouse or civil partnera relative of the … Continue reading Can I Pay Wages To Family?
According to proposals set out in a government policy paper, the revised rates for statutory maternity pay (SMP), statutory adoption pay (SAP), statutory paternity pay (SPP), statutory shared parental pay (ShPP), statutory parental bereavement pay … Continue reading Statutory Payments Rising From April 2022
