The Food and Drink Federation (FDF) Awards recognise and reward excellence for innovation, competitiveness, and talent in the food and drink industry. Entries to the FDF Awards 2022 are now open! Take a look at the award categories and enter … Continue reading Calling Hospitality Businesses…The Food & Drink Federation Awards Are Open
It is important that anyone responsible for the accounts and tax filing regime for private limited companies is aware of their obligations. After the end of its financial year, a private limited company must prepare full annual accounts and a … Continue reading What are the filing obligations of Limited Companies?
There are special rules to help ensure that goods sent from abroad are taxed appropriately and to ensure that UK businesses supplying goods in the UK, for example by having to compete with VAT free imports, are not disadvantaged. This … Continue reading Tax & customs duties for imported goods
The replacement of domestic items relief has been in place since April 2016. The relief allows landlords to claim tax relief when they replace movable furniture, furnishings, household appliances and kitchenware in a rental property. The allowance is … Continue reading Property landlords – replacement of domestic items relief
If you are an employee working from home, you may be able to claim tax relief for some of the bills you pay that are related to your work. Employers can reimburse employees for the additional household expenses incurred through regularly … Continue reading Tax relief for working from home
Do you know the present level of turnover you need to achieve in order to breakeven? Breakeven in this context means making no net profit or loss on trading activities. It is an activity indicator that sets a sales target you will want to achieve … Continue reading Breaking Even – what does this look like to your business?
HMRC has announced that fines for taxpayers that file their Self-Assessment returns for 2020-21 late will be waived until 28 February 2022. The due date of 31 January 2022 remains and HMRC is still encouraging taxpayers to try and meet this deadline. … Continue reading Self-Assessment Deadline Looms
With the growing popularity of cryptocurrencies, some businesses have started to accept crypto payments. In simple terms, a cryptocurrency is a form of digital money. It can be used for online transactions and is designed to be secure. The most … Continue reading Accepting crypto payments
Many firms who took out government-backed Bounce Back Loans (BBL) last year will now be making repayments to the lending bank. Firms still struggling with the effects of COVID-19 disruption have various options to extend these loans or take … Continue reading Pay-as-you-grow options for Bounceback Loans
Making Tax Digital (MTD) for VAT is to be extended to cover businesses with a turnover below the VAT threshold from April 2022. The MTD for VAT regime started in April 2019 when businesses with a turnover above the VAT threshold of £85,000 became … Continue reading Are you registered for Making Tax Digital for VAT?
HMRC has announced that late filing penalties will be waived for taxpayers that file their 2020-21 Self-Assessment returns by 28 February 2022. The due date of 31 January 2022 remains and HMRC is still encouraging taxpayers to try and meet this … Continue reading HMRC agree delay in tax return deadline
Beer Duty is chargeable on beer with a strength of more than 1.2% alcohol by volume (ABV). The description of beer includes ale, porter, stout, any other description of beer, and anything else made or sold described as beer or a beer substitute, … Continue reading Changes to Beer Duty and Soft Drinks Levy