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?
As the result of recent increases in petrol and diesel prices, HMRC has increased the advisory fuel rates that apply for the reimbursement of employees' private fuel for their company cars. The same rates apply when the employer reimburses employees … Continue reading Company Car Advisory Fuel Rates Increase
Environmental sustainability has moved to the forefront of the news headlines and consumers are keen to support eco-friendly businesses. Buying habits are changing as people seek to minimise their impact on the natural environment. By … Continue reading Is Your Business Eco-Friendly?
Having A Clear Purpose Has Never Been So Important A strong sense of purpose in your organisation is key to driving employee satisfaction and retention. Since the Covid-19 pandemic began, many businesses have seen what the media has referred to … Continue reading Retaining Talent In Your Business
We are moving into a new era of hybrid working - with some teams working from home, while others are in the office. This new way of working brings its own set of challenges. The general consensus among UK businesses is that the post-Covid working … Continue reading Managing Hybrid Working Effectively
The Statutory Sick Pay (Coronavirus) (Funding of Employers’ Liabilities) (Closure) Regulations and the Statutory Sick Pay (Coronavirus) (Funding of Employers’ Liabilities) (Northern Ireland) (Closure) Regulations 2021 have been laid before Parliament … Continue reading Covid SSP Rebate Scheme Is Closing
Redundancy is when you dismiss an employee because you no longer need anyone to do their job. This might be because your business is: changing what it does,doing things in a different way, for example using new machinery, orchanging location or … Continue reading Will the end of furlough mean redundancies in your business?
We have previously mentioned that draft legislation has been published to change the basis periods for the assessment of self-employed profits to coincide with the tax year. The proposed new rules provide that from 2023/24 onwards profits or losses … Continue reading Self-Employed To Suffer BIG Tax Bills in 2022/2023
Does your business have savings that would cover at least three months' overheads for your business? This is a prudent, but thanks to COVID, completely unrealistic goal for many businesses who exhausted any such cash reserves months ago as COVID … Continue reading The Need For A Contingency Fund
The VAT annual accounting scheme is open to most businesses with a turnover of up to £1,350,000 per year. The main benefits of the scheme include the requirement to file only one VAT return per year. This can significantly reduce the amount of … Continue reading What Is The VAT Annual Accounting Scheme?
This month, our case study comes from Emma-Louise who has helped a client who incorporated their own Company. It may seem simple to incorporate yourself, but a little error can cause you a rather large headache and be costly, if it is not picked … Continue reading Case Study – When ‘Off The Shelf’ Incorporations Go Wrong
This month we are focusing on: Different Trading Vehicles to Consider for your business And this week are looking at: What are the different trading vehicles available? There is:- Dormant Company Limited Company Limited Liability Partnership Sole … Continue reading Terrific Tuesday Tax Tip – What are the different trading vehicles available?