Reset for success- How to keep your business afloat through challenging times?
Reset for successHow to keep your business afloat through challenging times? Over one in five UK businesses say the current economic…
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Non-Doms Current, new & transitional rules
Non-Doms: Current, New & Transitional Rules The new regulations hinge on the intricate statutory residency test, yet non-doms have a…
Tax filing deadline May 2024 to July 2024
Tax filing deadline: May 2024 to July 2024 In our handy guide to tax filing deadlines, we provide an at-a-glance…
Child benefit full claim registration deadline
Child benefit full claim registration deadline The revisions to the high-income child benefit charge present an opportunity for certain couples…
Crypto investors at tax risk
Crypto investors at tax risk Staying on top of transaction records is crucial for anyone involved in cryptocurrency trading to…
Business and tax news and developments March 2024
Business & Tax News & developments – March 2024 Welcome to the latest edition of Business & Tax news and…
Non-Dom status abolished – The ins & outs
Non-Dom status abolished The ins & outs What constitutes non-domicile status? For over two centuries, the non-domicile regime has been…
Things to do before 5 April 2024
Things to do before 5 April 2024 (Tax tips) Introduction As we approach the end of the tax year, it’s…
Largest increase to the minimum wage rate 2024
Largest increase toMinimum Wage rate 2024 The Government has announced its acceptance of the Low Pay Commission’s recommendations on minimum…
Tax filing deadline March to July 2024
Tax filing deadline: March to July 2024 In our handy guide to tax filing deadlines, we provide an at-a-glance guide…
Transferring shares to family members
Transferring shares to family members(Business strategies series) Introduction The transfer of shares can occur for a variety of reasons, typically…
HMRC Advisory Fuel rates AFR from 1 March 2024
Advisory Fuel Rates (AFR) for company car users from 1st March 2024 When are Advisory Fuel rates (AFR) applied?…
Property tax questions answered (Part 3 of 10)
What are the tax implications of making overpayments to my mortgage? Question: “I would like to understand the tax consequences…
Holiday pay for irregular hours staff
Holiday pay for irregular hours staff(Zero hour contracts) As of April 1, 2024, amendments to the Working Time Regulations 1998…
Is the UK officially in recession?
Is the UK officially in recession? As the economic landscape continues to evolve, recent data released by the UK’s Office…
Valentine’s day Tax tips
Valentine’s Day – Tax tips Managing taxes efficiently as a couple can lead to significant savings and financial stability. Understanding…
HMRC warns taxpayers to settle tax on share sale
HMRC warns taxpayers to settle tax on share sale Overview Taxpayers are cautioned to address any outstanding tax liabilities related…
HMRC warning on undeclared dividends
HMRC warning on undeclared dividends Introduction The HM Revenue & Customs (HMRC) has initiated a campaign targeting company directors suspected…
R&D Tax Relief: What’s changing from 1st April 2024
R&D Tax Relief: What’s changing from 1st April 2024 Let’s delve into the forthcoming alterations in the pipeline, shedding light…
HMRC targets crypto traders
HMRC targets crypto traders Increased Scrutiny on Crypto Traders The HM Revenue & Customs (HMRC) has escalated its efforts to…
Autumn statement 2023 – All you need to know
On 22 November 2023, Jeremy Hunt delivered the ‘Autumn Statement for Growth’. Against an improving economic backdrop, the Chancellor is…
Property tax questions answered (Part 2 of 10)
9. As joint tenants, are we forced to split the income for tax purpose? Question: My wife and I own…
HMRC Advisory Fuel rates AFR from 1 September 2023
Advisory Fuel Rates (AFR) for company car users from 1st September 2023 Table of Contents Overview of Advisory Fuel Rates…
Tax filing deadline September to December 2023
Tax filing deadline: September to December 2023 In our handy guide to tax filing deadlines, we provide an at-a-glance guide…
Best business bank accounts comparison and overview
Best Business Bank AccountsOverview & comparison Table of Contents How to Open a Business Bank Account in the UK A…
gaps in national insurance for state pension
Gaps in national insurance for state pension What’s the fuss about gaps in national insurance for state pension? The government…
Tax filing deadline July to December 2023
Tax filing deadline: July to December 2023 In our handy guide to tax filing deadlines, we provide an at-a-glance guide…
Property tax questions answered (Part 1 of 10)
1. What expenses can I offset against rental income? Question: I have just purchased my first buy-to-let property and have…
Fraud Convictions and sentences June 2023
Fraud: Convictions and sentences June 2023 £50k bounce back fraud: 6 years disqualification Mr Ahmed, from Essex, was the sole…
Implication of jointly owned properties
Introduction: Jointly owned property Under English property law, there are two ways in which property can be owned jointly as…
Business and tax news and developments June 2023
Business & Tax News & developments Welcome to the latest edition of Business & Tax news and developments round up…
Benefits of will
Benefits of will Inheritance tax planning will only achieve the desired result if the people you plan to inherit your…
Crackdown on umbrella companies
Government plans crackdown onUMBRELLA COMPANIES The Treasury is seeking input on how to improve protection for contractors that utilise umbrella…
Dividend or bonus
Dividend or Bonus? What’s more tax effective? Tax changes mean that the choice between paying dividends or taking a bonus…
self service VAT payment plan
Self-service VAT payment plan Online VAT payment plan: Introduction HMRC has confirmed that businesses can now set up a VAT…
UK taxes on Crypto
UK Taxes on Crypto The UK has one of the most developed and mature cryptocurrency markets in the world, and…
Employee suffering from headache
Tax implication of Employee suffering from headache Do you have a desk job in an office and do you suffer…
Create an income from directors loan account
Create an income from directors loan account Introduction Directors’ loan accounts (DLAs) record the cumulative movements of amounts both introduced…
split year
Split year: Tax residence when coming in or going out of Britain Under the Statutory Residence Test (SRT), an individual…
Tax tips must be actioned before end of financial year
Tax tips for directors/Business owners – Must be actioned before end of financial year (31 March 2023) As company directors…
Fraud Convictions and sentences February 2023
Fraud: Convictions and sentences February 2023 Bounce back loan: Company director jailed for 12 months – A director of a…
Tax filing deadline March to May 2023
Tax filing deadline: March to May 2023 In our handy guide to tax filing deadlines, we provide an at-a-glance guide…
Points-based VAT penalties from 7 March 2023
Points-based VAT penalties from 7 March 2023 HMRC is in the process of contacting 2.5 million businesses reminding them about…
How to cut your Inheritance tax bill?
How to cut your Inheritance tax bill? Years of frozen allowances, paired with house price growth and soaring inflation, is…
VAT recovery on non-staff members’ expenses
VAT recovery on non-staff members’ expenses Many businesses use self-employed workers in their businesses to do specific projects or on…
HMRC raises late payment interest rate to 6.5%
HMRC raises late payment interest rate to 6.5% HMRC will raise interest rates on tax debt to 6.5% from 21 February…
Companies must revalue residential properties for ATED
Companies must revalue residential properties for ATED What is ATED? ATED is an annual tax payable mainly by companies that…
Directors loan write-off – Tax implication
Director’s loan write-offTax implication What are the tax implications if a director is unable to repay the balance on their…
Is Director’s loan a cheap source of finance?
Is Director’s loan a cheap source of finance? Is borrowing from a personal or family company as director’s loan an…
Is it time to go electric?
Is it time to go electric? (P11d on Electric cars) Table of Contents What are the relevant taxes for a…
Autumn Budget statement November 2022
Autumn Budget statement 2022All you need to know Table of Contents The Autumn Statement 2022 from Chancellor Jeremy Hunt aimed…
Making Tax Digital for Income Tax Self Assessment MTD ITSA
Making Tax Digital for Income Tax Self Assessment – MTD ITSA John Edwards, CEO of the Institute of Financial Accountants…
VAT errors- HMRC online reporting launched
VAT errors- HMRC online reporting launched HMRC has introduced a new digital form so that a company can quickly and…
Tax authorities to target cross border crypto investors
Tax authorities to target cross border crypto investors Plans to introduce a crypto-asset reporting framework will see tax authorities exchanging…
Suspended sentence for bounce back loan fraudster
Suspended sentence for bounce back loan fraudster A director of a Middlesbrough telecoms company has been given a suspended sentence…
Fraud Convictions and sentences October 2022
Fraud: Convictions & sentences – September 2022 Table of Contents Construction company director banned for £50k covid fraud Directors of…
B2L landlords targeted with HMRC nudge letters
B2L landlords are being contacted by HMRC in its latest nudge campaign, which identifies people who may not be declaring…
Tax tips- Employ your family
Tax tips – Employ your family You could hire/employ a member of our family who earns nothing else to work…
HMRC raises late payment interest rate to 5.5%
HMRC raises late payment interest rate to 5.5% HMRC will raise interest rates on tax debt from 22 November following…
R&D tax credit scam- HMRC arrests 8
R&D tax credit scam- HMRC arrests 8 Table of Contents As part of a clampdown on the misuse of research…
Inheritance tax planning for main residence
Inheritance tax planning for main residence Table of Contents Looking for Inheritance tax planning for your main residence? Find my…
new ways to pay payroll taxes
New ways to pay payroll taxes Background HMRC has just launched its “variable payment plan” for employers. What is it…
Mini Budget U Turns
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Landlords not ready to report rental income under MTD
Landlords not ready to report rental income under MTD More than half of landlords are not aware of the new…
New Stamp Duty guide 2022 Autumn Mini Budget
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Fraud Convictions and sentences September 2022
Fraud: Convictions & sentences – September 2022 Table of Contents Takeaway owner spared jail for £50k VAT fraud – A…
Mini Budget September 2022
Mini Budget September 2022 The week leading up to Chancellor Kwasi Kwarteng’s ‘Mini Budget’ may have been a short one…
Charities to complete 2 stage test to assess VAT liability
Charities to complete 2 stage test to assess VAT liability Overview: HMRC has clarified the definition of business activities…
Energy bills for businesses to be halved this winter
Businesses will be given financial support for six months to cover up to 50% of their energy bills in the…
Tax tips- Different categories of shares
Tax tip: Different categories of shares One of the limitations of a limited company when it comes to setting an…
HMRC chases 4,000 taxi drivers
HMRC chases 4,000 taxi drivers Overview: HMRC has written to more than 4,000 taxi and private hire vehicle drivers…
Compulsory liquidation costs to rise
Compulsory liquidation costs to rise Table of Contents The up-front petition deposit fee paid by those initiating creditor bankruptcy and…
£1.1 billion Bounce Back loans flagged as fraud
£1.1 billion Bounce Back loans flagged as fraud Around £1.1bn of small business loans made under the Bounce Back Loan…
Tax filing deadline September & October 2022
Tax filing deadline: September & October 2022 In our handy guide to tax filing deadlines, we provide an at-a-glance guide…
HMRC Advisory Fuel rates AFR from 1 September 2022
Advisory Fuel Rates (AFR) for company car users from 1st September 2022 Table of Contents Overview of Advisory Fuel Rates…
Tax avoidance umbrella company bosses named
Tax avoidance umbrella company bosses named Table of Contents HMRC has publicly named tax avoidance bosses for the first time,…
End of self assessment tax returns for B2L landlords
End of self assessment tax returns for B2L landlords HMRC has finally published detailed guidance on how Making Tax Digital…
Tax reliefs on furnished holiday lets explained
Tax reliefs on furnished holiday lets explained Furnished holiday lets in the UK offer a number of tax benefits, but…
HMRC redesigns PSA1 form for PAYE
HMRC redesigns PSA1 form for PAYE PSA1 forms are going digital after HMRC recently completed a review of customer feedback…
14,000 furlough fraud whistle blowers contact HMRC
14,000 furlough fraud whistle blowers contact HMRC As the number of furlough fraud whistleblowers approaches 14,000, HMRC is picking up…
Wrongful trading
Wrongful trading: What company directors need to know? Table of Contents Failing to act in the interests of creditors once…
PAYE will be payable by direct debit to HMRC
PAYE will be payable by direct debit to HMRC Table of Contents HMRC has confirmed plans to modernise its direct…
Tax avoidance promoter fined £1m
Tax avoidance promoter fined £1m A tax avoidance scheme promoter has been hit with a £1,074,600 fine after a legal…
HMRC to relaunch VAT Registration Service (VRS)
HMRC to relaunch VAT Registration Service (VRS) HMRC has been developing a new VAT Registration Service (VRS) which will speed…
Help to Grow scheme expanded to smallest businesses
Help to Grow scheme expanded to the smallest businesses The government’s Help to Grow: Digital Scheme is to be expanded…
CGT rules for divorcing couples
CGT rules for divorcing couples The government is changing the CGT rules for divorcing couples so they no longer need…
Recovery loan scheme extended for 2 years
Recovery loan scheme extended for 2 years The government has extended the Recovery Loan Scheme for small businesses for a…
Inflation rate hits 40-year high of 9.4%
Inflation rate hits 40 year high of 9.4% The rate of inflation rose by 9.4% in the 12 months to…
VAT on commissions and referral fees
VAT on commissions and referral fees Should VAT be charged on commissions or mortgage referral fees? If you act as…
VAT accounting simplification
VAT simplification scheme Once a business is registered for VAT, there are a number of VAT accounting simplifications that can…
R&D claims will require pre-registration with HMRC
R&D claims will require pre-registration with HMRC Table of Contents Background of R&D claims pre-registration with HMRC Changes to the…
P11D on air miles
Air Miles: P11-D & BIK implication Table of Contents Would airmiles be classed as a benefit in kind (BIK)? In…
Don’t get caught by 60% income tax rate
Don’t get caught by 60% income tax rate Are you caught up by 60% Income tax rate? Most UK taxpayers…
First bounce back loan fraudster jailed
First bounce back loan fraudster jailed The director of a Manchester pizza takeaway who fraudulently claimed a £20,000 bounce back…
Am I liable for the new Plastic Packaging Tax PPT?
Plastic Packaging Tax Table of Contents Plastic Packaging Tax Overview: The new Plastic Packaging Tax (PPT) came into force on…
P11D Reporting
P11-D Reporting: Submission & payment deadlines Table of Contents P11D Overview Employers are required to submit P11D annual reports to…
Bonus v/s Dividend
Bonus vs dividend Table of Contents Bonus vs Dividend overview Directors can extract monies from a company in various ways,…
Inflation remains at 40 year high
Inflation remains at 40% high, rising to 9.1% in May 2022 The latest inflation figure for May has hit 9.1%,…
Till fraud clampdown to stop tax evasion
Till fraud clampdown to stop tax evasion Table of Contents Overview of Till Fraud clampdown: HMRC officers are using new…
PAYE tax avoidance promoters- Named & shamed
PAYE Tax avoidance promoters: Named & shamed Table of Contents PAYE Tax avoidance overview As part of its clampdown on…
The Government freezes Student loan interest rate at 7.3%
The Government freezes Student loan interest rates at 7.3% Table of Contents The government has confirmed that student loan interest…
NI Threshold changes from 6 July 2022
NI Threshold changes from 6 July 2022 Table of Contents HMRC has updated the guidance on changes to the National…
Tax freedom day in 2022
UK Tax freedom day in 2022 What is a “Tax freedom day”? The theoretical date at which the average earner…
HMRC Advisory Fuel rates AFR from 1 June 2022
Advisory Fuel Rates (AFR) for company car users from 1st June 2022 Table of Contents Overview of Advisory Fuel Rates…
Tax filing deadline June to September 2022
Tax filing deadline: June to September 2022 In our handy guide to tax filing deadlines, we provide an at-a-glance guide…
HMRC targets self employed who overclaimed grants
HMRC targets self employed who overclaimed grants HMRC is targeting self-employed workers who overclaimed coronavirus grants during the pandemic. The…
Penalties, convictions & sentences by HMRC in May 2022
HMRC penalties, Convictions & sentences – May 2022 Table of Contents Overview: A fish seller, buy-to-let landlords and a crypto…
Fraud Convictions and sentences March 2022
Fraud: Convictions & sentences – March 2022 Our service to you If you are a self employed, business owner/director of…
Spring statement 2022
Spring statement 2022 Key Points Chancellor announces tax cut for nearly 30 million UK workers through rise in National Insurance…
HMRC targets less than 1% of crypto investors
Less than 1% Crypto investors targeted by HMRC HMRC contacted less than 1% of UK cryptocurrency investors about their potential…
Interest rates increased to 0.75%
Interest rates increased to 0.75% The Bank of England (BoE) has increased interest rates from 0.5% to 0.75% in the…
EU blocks minimum corporate tax deal
EU blocks minimum corporation tax deal Poland, Sweden, Estonia, and Malta have voted against a French proposed compromise on the…
Economic Crime Act creates property register
Property register – Economic Crime Act New rules will create a register of overseas owners of UK property to improve…
Inheritance tax and gifts for maintenance of family
Inheritance Tax: Gifts for maintenance of family Table of Contents Back ground Gifts for the maintenance of family is a…
Umbrella company workers face higher NIC increase
Umbrella company workers face higher NIC increase People working within an umbrella company will see a 2.5% increase on their…
Covid loans used to buy houses and cars
Covid loans used to buy houses and cars Abuse of covid-19 bounce back loans saw company directors spending the funds…
Risks for company directors on the rise
Risks for company directors on the rise Table of Contents Back ground Increased accountability for directors and more scrutiny on…
80% of impacted businesses unaware of MTD changes
80% of impacted businesses unaware of MTD changes With just one month to go until the rollout of the Making…
Small businesses to file P&L accounts at Companies House
Small businesses to file P&L accounts at Companies House The government has set out plans to reform governance at Companies…
Director’s loan account: The finer details
Director’s loan account: The finer details Back ground Tax compliance is an important consideration when considering the use of director’s…
Fraud Convictions and sentences 31 December 2021
Fraud: Convictions & sentences – 31 December 2021 Table of Contents Director jailed for stealing £1.7m A company director has…
Late tax payment interest rate raised to 2.75%
Late tax payment interest rate raised to 2.75% Following the increase in the base rate announced by the Bank of…
IR35 sage in public sector
IR35 saga in public sector In the ongoing saga over IR35 in the public sector, two more government departments are…
£1bn support package for businesses hit by Omicron
£1bn support package for businesses hit by Omicron The Chancellor has announced a £1bn support package including grants for the…
Statutory sick pay rebate scheme reinstated
Statutory sick pay rebate scheme reinstated As increasing numbers of Covid-19 cases means more workers taking time off work, the…
15% global minimum tax
15% global minimum tax – Rules published by OECD The OECD has published detailed rules to assist in the implementation…
Crackdown on directors who dissolve companies to evade debts
Crackdown on directors who dissolve companies to evade debts The Insolvency Service has been given more powers to tackle rogue…
Bank base rate increased to 0.25%
Bank base rate increased to 0.25% (First increase in 3 years) The Bank of England has raised the bank base…
11.7 million jobs supported by Furlough scheme
11.7 million jobs supported by Furlough scheme The latest figures on use of the Coronavirus Job Retention Scheme show that…
Covid grants to be included in tax returns
Covid grants to be included in tax returns HMRC is reminding self assessment customers to declare any Covid-19 grant payments…
EU customs changes
EU custom changes from January 2022 Some of the temporary customs and VAT easements introduced on 1 January 2021 for…
Fraudulent Covid loans of £4.9bn
Fraudulent Covid loans of £4.9bn The government’s measures to prevent fraud in its bounce back loan scheme (BBL) have been…
VAT update December 2021
VAT update December 2021 Table of Contents Sports supplies Scraps of useful insight can sometimes emerge from tribunal cases, and…
Autumn 2021 Budget announcement
Autumn 2021 Budget Table of Contents https://www.youtube.com/watch?v=sAi1c_dLu9Q Autumn Budget 2021 : Overview Rishi Sunak delivered his third Budget as Chancellor…
Weekly update 22 October 2021
Weekly update 1 October 2021 Welcome to the latest edition of our weekly update. Autumn Budget Chancellor Rishi Sunak will…
Weekly update 1 October 2021
Weekly update 1 October 2021 Welcome to the latest edition of our weekly update. MTD Updates The government has delayed…
Tax filing deadline October to December 2021
Tax filing deadline: October to December 2021 In our handy guide to tax filing deadlines, we provide an at-a-glance guide…
Is wealth tax on the horizon
Is wealth tax on the horizon Table of Contents Wealth tax overview The introduction of a wealth tax could raise…
Fraud Convictions and sentences 30 September 2021
Fraud: Convictions & sentences – 31 August 2021 Table of Contents Director jailed for £250k VAT fraud A company director…
Covid support measures come to an end
Covid support measures come to an end As the furlough scheme, temporary reduced VAT rates, and paused winding up scheme…
Extended loss carry back rules explained
Extended loss carry back rules Table of Contents Extended loss carry back rules: Overview As part of a range of…
MTD for income tax delayed by a year until 2024
MTD for income tax delayed by a year until 2024 In a statement to MPs today, new financial secretary to…
Businesses pay back £1.3 billion of furlough
Businesses pay back £1.3 billion of furlough Businesses have paid back £1.3bn worth of furlough cash with £300m returned in…
Insolvencies at the highest since first lockdown
Insolvencies at the highest since first lockdown Last month there were 1,348 registered company insolvencies, the highest since the first…
HMRC loses half of disputes with taxpayers
HMRC loses half of disputes with taxpayers Over the last two years, out of the 32,675 tax claims that had…
HMRC debt and enforcement
HMRC debt and enforcement HMRC is ramping up action against tax defaulters while the end of the winding up ban…
1.25% National Insurance hike
1.25% National Insurance hike Table of Contents PM announces 1.25% National Insurance hike Key Points PM unveils £12bn-a-year tax rise…
Weekly update 3 September 2021
Weekly update 3 September 2021 Welcome to the latest edition of our weekly update. SME News The federation of small…
HMRC help towards childcare cost
HMRC help towards childcare cost HMRC has issued a reminder to families that are eligible for tax-free childcare that they…
Furlough final month
Furlough: Final month Table of Contents How to best use the final month of furlough to plan for the future?…
Advisory Fuel rates AFR September 2021
Advisory Fuel Rates (AFR) – September 2021 Table of Contents Overview of Advisory Fuel Rates (AFR) HMRC has published the…
Fraud Convictions and sentences 31 August 2021
Fraud: Convictions & sentences – 31 August 2021 Table of Contents Tax fraudster ordered to repay £5.5m A North East…
Penalty suspension for late filed accounts has ended
Penalty suspension for late filed accounts has ended Companies House has updated its Covid-19 guidance for its customers and has…
Tax free earnings for teenagers capped at £1,000
Tax free earnings for teenagers capped at £1,000 Thousands of young people who have finished their exams need to be…
Super deduction extension for landlords
Super deduction extension for landlords Landlords can now take advantage of the most enticing tax incentive for business investment that…
Stamp duty on property sales hits £2.8bn
Stamp duty on property sales hits £2.8bn The end of the stamp duty land tax (SDLT) holiday on 30 June…
Employers ‘named and shamed’ for paying less than minimum wage
Employers named & shamed for paying less than minimum wage The government has named and shamed 191 employers for underpaying…
Marriage allowance
Marriage Allowance Nearly 1.8 million married couples and those in civil partnerships have signed up for the marriage allowance to…
Commercial rent arrears and premises recovery
Commercial rent arrears & premises recovery The extension of the rent arrears moratorium may have been welcomed by some businesses…
Business at risk of penalties in digital tax overhaul
Business owners at risk of penalties in digital tax overhaul Making Tax Digital will require tax returns to be submitted…
Fraud Convictions and sentences 1 August 2021
Fraud: Convictions & sentences Table of Contents Care home director banned for £518k hole in accounts A director of a…
5th self employed grant opens
5th self employed grant opens for applications Table of Contents HMRC has confirmed that applications for the fifth grant for…
Weekly update 30 July 2021
Weekly update 30 July 2021 Welcome to the latest edition of our weekly update. Tax Reporting Reforms to the tax…
Tax on subsidised workplace meals
Tax on subsidised workplace meals If you, as employer, provide your staff with a meal halfway through their shift, would…
Bad debt VAT relief and VAT compliance
Bad Debt VAT relief and VAT compliance Table of Contents Bad debt relief enables suppliers who have accounted for VAT…
Pension freedom age rises to 57 for tax free withdrawals
Pension freedom age rises to 57 for tax free withdrawals The government has confirmed that it will proceed with plans…
Buy to let tax disclosures drop HMRC reveals
Buy to let tax disclosures drop, HMRC reveals Thousands of landlords have failed to come clean about the tax they…
Weekly update 16 July 2021
Weekly update 16 July 2021 Welcome to the latest edition of our weekly update. Self-employed The self -employed individuals claiming…
Fraud Convictions and sentences July 2021
Fraud convictions & sentences: July 2021 Table of Contents Bookkeeper jailed for £2.1m VAT fraud Croydon based booker arrested at…
VAT updates: July 2021
VAT UPDATE – July 2021 Table of Contents Are all the liquid meals zero rated? HMRC has issued R&C Brief…
Right to work checks for employers
Right to work checks for employers Table of Contents Overview of right to work checks There have been some updates…
HMRC phishing scams report 2020-21
HMRC phishing scams report 2020-21 Table of Contents Overview of phishing scam report Despite precautions, phishing scams using HMRC are…
Turnover calculation added to 5th self employed grant claim
Turnover calculation added to 5th self employed grant claim The application process for the fifth Self-Employment Income Support Scheme (SEISS)…
Crypto assets businesses risks security and anti money laundering rules
Crypto assets businesses – Risks, security & anti-money laundering rules Table of Contents The Financial Conduct Authority (FCA) announced on…
Recent tax changes for UK property investor
Recent tax changes for UK property investor The Chancellor announced a wide range of tax measures in the Spring 2021…
shared parental leave HMRC online tool
Shared parental leave – Online HMRC tool The government has launched an online tool to help expectant parents share time…
New EU VAT rules from 1 July 2021
New EU VAT rules from 1st July 2021 The reforms coming in under the EU’s program for Modernizing VAT for…
Weekly update 2 July 2021
Weekly update 2 July 2021 Welcome to the latest edition of our weekly update. Small Business Updates The federation of…
Chancellor Sunak’s debut speech at Mansion House
Chancellor Sunak’s debut speech at Mansion House UK roadmap for financial services Chancellor Rishi Sunak announced his ambitious blueprints to…
Tax filing deadlines July 2021
Tax filing deadlines July 2021 A handy guide on tax filing deadlines in July 2021 from Naail & Co 1…
HMRC launches probes into Covid scheme fraud
HMRC launches probes into Covid scheme fraud Table of Contents How many arrests have been made so far in relation…
Changes in Furlough Structure
Furlough structure changes(July, August & September 2021) Overview of changes in Furlough structure By designating your employees as “furloughed”, you…
Stamp duty holiday tapers off from 1st July 2021
Stamp duty holiday tapers off from 1st July 2021 Key points: The holiday saw stamp duty on transactions of properties…
Business rates support tapers off
Business rates support tapers off Businesses and firms across the UK are preparing to restart property tax payments as the…
HMRC’s IR35 CEST tool showed over 200,000 workers as “undetermined”
HMRC’s IR35 CEST tool showed over 200,000 workers as “undetermined” Data published by HMRC show that the tax authority’s IR35…
Weekly update 18 June 2021
Weekly update 18 June 2021 Welcome to the latest edition of our weekly update. This week, we have rounded up…
Tax year may move from 5 April
Tax year may move from 5 April In a surprise move, the Office of Tax Simplification (OTS) has announced that…
Furlough & Rates relief extension rejected despite ‘freedom day’ delay
Furlough & rates relief extension rejected despite “Freedom day” delay Initially set as 21 June, Boris Johnson confirmed on 14…
IR35- 2nd appeal lost for £70k tax
IR35- 2nd appeal lost for £70k tax A Nationwide IT contractor has lost his second appeal in an IR35 tax…
Furlough & Grant fraud: HMRC taskforce to recover £1bn
Furlough & self employed grant Fraud: HMRC to recover £1bn Table of Contents Which support measures will be covered by…
First Homes Scheme
First Homes Scheme – 30% discount on properties Discounted homes for key workers and local residents will now be available…
G7 finance ministers agree 15% global tax agreement
G7 Finance Ministers agree 15% Global Tax agreement The G7 has agreed to back an international agreement on global tax…
VAT on online service & digitial platforms
VAT on online service & digital platforms For the uninitiated, OnlyFans is an online content-sharing subscription service based in the…
Furlough support if your deadline is missed
Claiming Furlough if your deadline is missed HMRC has confirmed the information required for companies that have missed the Coronavirus…
Furlough & self employed grant report
Furlough & self employed grant report As the pandemic continues to affect the self employed the latest HMRC figures show…
5th Self Employed Grant
5th Self Employed Grant HMRC has confirmed that a fifth self employment income support scheme (SEISS) will be available from…
Weekly update 4 June 2021
Weekly update 4 June 2021 Welcome to the latest edition of our weekly update. This week, we have rounded up…
Employers to chip in 10% in furlough
Employers to chip in furlough From July employers will have to chip in 10% of staff wages to anyone on…
Tax Deadline and key dates June 2021
Tax filing deadline & key dates – June 2021 Find below our at-a-glance guide to key filing and payments deadlines…
Advisory Fuel rates AFR June 2021
Advisory Fuel Rates (AFR) – June 2021 Table of Contents Overview of Advisory Fuel Rates (AFR) HMRC has published the…
SME Brexit support fund
Options for UK importers for dealing with post-Brexit Import VAT Table of Contents Overview The SME Brexit Support Fund could…
Options for UK importers for dealing with post-Brexit Import VAT
Options for UK importers for dealing with post-Brexit Import VAT Table of Contents Overview From 1 January 2021, trade between…
EU VAT regime changes for UK retail businesses
EU VAT changes for UK retail businesses Table of Contents Overview UK retail businesses selling into the EU need to…
Bounce back loan fraud investigations
Bounce back loan fraud investigations Fraud investigations into abuse of covid-19 bounce back loan (BBLs) by the City of London…
Weekly update 23 May 2021
Weekly update 23 May 21 Welcome to the latest edition of our weekly update. This week, we have rounded up…
Last call to join VAT deferral new payment scheme
Last call to join VAT deferral new payment scheme Businesses that deferred VAT payments last year have one month left…
Help to grow scheme
Help to grow scheme Table of Contents Overview of Help to Grow scheme If you own a small business in…
5% deposit mortgage products launched
5% deposit mortgage products launched Table of Contents A new government-backed mortgage scheme will help first time buyers or current…
Penalty rate for covid deferred VAT
Penalty rate for Covid deferred VAT HMRC has confirmed that companies will be liable for a 5% penalty or interest…
Restart Grant Scheme
Restart Grant Scheme Table of Contents Key Points of Restart Grant Scheme The scheme is available from this month and…
Work from home allowance for employees 2021-22
Work from home allowance for employees 2021-22 Employed workers can claim working from home allowance for new tax year. Employed…
Recovery Loan Scheme opens for businesses
Recovery Loan Scheme opens for businesses Table of Contents Applications are now open for the £75bn Recovery Loan Scheme (RLS),…
4th self employed grant
4th Self Employed Grant Table of Contents Getting ready to claim Self employed grant You will be able to claim…
Workplace reopening checklist
Workplace reopening checklist Most businesses and venues will be permitted to re-open from Monday, the 12th April 2021. As businesses…
HMRC task force for COVID frauds
HMRC task force for COVID frauds The government will invest over £100m in a taxpayer protection taskforce of 1,265 HMRC…
Self employed grant extension for 4th and 5th grant
Self Employed Grant extension – 4th & 5th Grant Table of Contents Overview of Self employed SEISS grants The government…
Super deduction Capital Allowance
Super deduction Capital Allowance Table of Contents Overview of Super deduction Capital Allowance A new 130% first-year capital allowance for…
Company tax to rise to 25%
Company tax to rise to 25% Table of Contents Overview of Corporation tax rise The Chancellor plans to raise corporation…
Bounce back loan further relief
Bounce back loan – further relief Table of Contents Overview of Bounce Back loans Businesses that took out government-backed Bounce…
Recovery Loan Scheme
Recovery Loan Scheme Table of Contents Overview of Recovery Loan Scheme A new loan scheme to support access to finance…
Budget 2021-22
Budget 2021-22 Table of Contents Budget 2021-22 opening remarks Chancellor Rishi Sunak delivered his Budget statement 2021-22 today, extending a…
Advisory Fuel rates AFR March 2021
Advisory Fuel Rates (AFR) – March 2021 Table of Contents Overview of Advisory Fuel Rates (AFR) HMRC has published the…
VAT Deferral New Payment Scheme
VAT Deferral New Payment Scheme is now open Table of Contents Overview of VAT Deferral New Payment Scheme If you…
What to expect in Budget 2021?
What to expect in Budget 2021? Table of Contents What to expect in Budget 2021? On 3rd March, Chancellor Rishi…
Late payment penalties temporarily waived by HMRC
Late payment Penalties temporarily waived by HMRC Self-assessment taxpayers will not be charged a 5% late payment penalty if they…
Are we heading towards negative interest rate?
Are we heading towards negative interest rates? Table of Contents What is negative interest rate? Negative interest rates occur when…
Tax return deadline extension and payment plan
Tax return deadline extension and payment plan Tax return Deadline extension HMRC has announced that Self Assessment customers will not…
Payout for small businesses in a historic victory at Supreme Court
Legal win for small businesses Tens of thousands of small businesses forced to close during the first lockdown are in…
VAT Reverse charge Construction sector
VAT Reverse charge Construction sector Table of Contents Overview Are you in construction industry and VAT registered? The Construction Industry…
Green Homes Grant
Green Homes Grant Table of Contents Overview of Green Homes Grant: Are you a Homeowner or residential landlord? You can…
New CIS Rules
New CIS Rules New CIS Rules – Legislation to tackle construction industry scheme abuse The government is introducing legislation making…
Furlough and zero hours workers
Furlough & Zero hours workers Furlough & Zero hours workers The Coronavirus Job Retention Scheme has been extended until 30…
Work From Home Tax Relief
Work From Home Tax Relief Table of Contents Overview of tax relief on work from home: Working from home? Don’t…
Wealth tax recommendation
What are Wealth Tax recommendations? Table of Contents Wealth Tax – Introduction A 1% Wealth tax per year tax rate…
Changes to IR35 rule
Changes to IR35 Rule IR35 Rule changes Find below frequent questions on changes to IR35 rule What is IR35? In…
Council Grant funding
Council Grant Funding Table of Contents Overview As of last Friday, November 13, money is being transferred to councils in…
Northern Ireland protocol
Northern Ireland Protocol Table of Contents Northern Ireland Protocol: Overview The Northern Ireland protocol is coming into effect from 1st…
kickstart job scheme
Kickstart job scheme Table of Contents Kickstart job scheme: Current status Kickstart Jobs Scheme creates 19,000 work placementsDid you know…
Furlough JRS update
Furlough JRS update Table of Contents Furlough JRS Guidance Update Employers can now claim under the CJRS extension. Find out…
Furlough & Self employed grant extension
Furlough & Self Employed Grant extension Chancellor’s statement announced today (5 November 2020). We’ve covered the Chancellor’s statement regarding important…
Business loan schemes extended
Business Loan Scheme extended Treasury extends UK emergency business loan schemes – find out how this can benefit your business…
Self employed grant increased
Self Employed Grant Increased Self-employed workers will be able to claim government support worth 80% of trading profits for November…
Furlough Scheme Extended
Furlough Scheme Extended The Furlough Scheme was due to end and be replaced by the Job Support Scheme on 31st…
Covid Business Grant
Covid Business Grant Table of Contents Covid Business Grants Find out how much Covid Business grant your business could be…
Businesses call for more government support
Businesses call for more government support SMEs call for more Government support Lowering the costs of employer National Insurance contributions…
Prepare for Brexit
Prepare for Brexit Firms urged to prepare for Brexit Here’s what you need to know as new Government campaign says…
Job Support Scheme grant
Job Support Scheme Grant – JSS Table of Contents What is Job Support Scheme? Job Support Scheme is due to…
Changes to self employed grant
Changes to Self Employed Grant Table of Contents Introduction The grant has now changed following todays (22nd October 2020) announcement…
New business support package
New Business Support Package Table of Contents New Business Support Package Chancellor unveils three extra support measures today on 22nd…
State Pension Age Increase
State Pension Age Increase The age at which people start to receive the state pension has increased to 66 for…
Self Assessment Payment Plan
Self Assessment Payment Plan Table of Contents What is Self Assessment Payment Plan? Under Self Assessment Payment plan, the self-employed…
Job Retention Bonus guide
Job Retention Bonus Guide Table of Contents What is Job Retention Bonus? In his Summer Statement, Chancellor Rishi Sunak announced…
Self employed Grant Extension
Self Employed Grant Extension Table of Contents Self Employed Grant Extension Chancellor Rishi Sunak last week announced further economic support…
VAT cut extension details
VAT cut extension Table of Contents VAT cut extension details Chancellor Rishi Sunak has announced the current VAT cut will…
Job Support Scheme
Job Support Scheme Table of Contents Job Support Scheme Announced as part of the Winter Jobs Package, the Job Support…
Business Loan schemes
Business Loan Schemes Table of Contents Business Loan Schemes The Chancellor extended the government’s three Coronavirus business interruption loan schemes…
Winter Economic Plan
Winter Economic Plan Table of Contents On 24 September 2020, Chancellor Sunak announced various support measures in his winter economy…
July 2020 GDP Figures released by ONS
⇒ GDP monthly growth in July: 6.6% ⇒ GDP quarterly fall in July: 7.6% ⇒ GDP fall since February: 11.7%…
Furlough scheme – update and recent changes
Furlough Scheme (Coronavirus Job Retention scheme) – update and recent changes Watch the following video for the the recent changes…
Update for Import VAT – recent changes
There has been a significant update/recent change in Import VAT rules. For businesses registered for VAT in the UK, it will…
Employment allowance (EA) and CJRS
There has been some confusion as to how Employment Allowance (EA) is intended to interact with Cornonavirus Job Retention Scheme…
Business Interruption Loans (CBILS) – deadlines
The key deadline for Coronavirus Business Interruption Loans (CBILS) are as follows; ⇒ Firms have until 30 September 2020 to…
Second self employed grant (SEISS)
Eligible individuals have until 19 October to apply for the second and final self employed grant (Self Employment Income Support…
Furlough Fraud
What is a Furlough Fraud? The government has announced that following actions constitute an overclaimed furlough grant and consequently will…
Coronavirus Support for Businesses
Coronavirus: Support for Businesses Useful information & recent developments on Coronavirus Support for businesses. https://www.youtube.com/watch?v=m78YGFnOZyg Our service to you If…
Covid19 Message from Naail & Co
Covid19 Message from Naail & Co Covid19 Message from Syed Murtaza, Founder Naail & Co https://www.youtube.com/watch?v=qLuFOLMNAI4 Our service to you…
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If you are a self employed, business owner/director of company looking to get your accountancy and taxation matters sorted, look no further. We, at Naail & Co, are pro-active and specialist small business accountants in London who will not only ensure that all your filing obligations are up to date with Companies House and HMRC, but also you do not pay a penny more in taxes than you have to. We work on a fixed fee basis and provide same day response to all your phone and email enquiries. We will also allocate a designated accounts manager who would have better understanding of your and business financial and taxation affairs. Book a free consultation call with a certified accounting firm London using the link below.
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