Inheritance Tax on Wedding Gifts

Inheritance Tax on Wedding Gifts

Have you thought about giving a cash gift to someone close on the day of their wedding or civil partnership? This could not only be a generous gift, but can also be tax efficient for you.  Under the Inheritance Tax rules you can give tax free: Each Parent (including Step-Parents) … Continued

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Christmas is the Time for Giving

With Christmas only a few weeks away, a traditional time for giving both in business and personally, we take a look at some of the tax rules that may affect you and the recipients of the gifts. Many were expecting the Chancellor to announce changes to Inheritance Tax (IHT) in … Continued

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Update on Corporation Tax Return CT600

The Government updates are coming through as thick and fast as Boris’s speech notes, so here’s some more guidance to help you with your Corporation Tax Return CT600. Report CJRS Furlough grants and overpayments on Corporation Tax Return CT600 The latest version of the CT600 Corporation Tax Return updated on … Continued

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Government Support Update – November 2021

I hope you are well and that your business is recovering from the effects of the pandemic. It still seems that the have a way to go to bring COVID-19 fully under control and that we may be moving towards more restrictions in the near future.With this in mind, I … Continued

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Autumn Budget 2021

On 27th October 2021, the Chancellor delivered his third Budget in conjunction with the Public Spending Review. National Living Wage Increased to £9.50 per hour An  increase in the hourly rate for the National Living Wage (NLW) which was greater than inflation for those aged 23 or over, to £9.50 … Continued

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On the Accounting Horizon

Here’s some of the key Accounting and Tax dates for the rest of this year and the start of 2022: DATEEVENT27th October 2021 Autumn Budget31st October 2021 Deadline for postal submission of Self Assessment Tax Return for tax year ending 5th April 2021 to be received by HMRCDECEMBERA good time … Continued

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Government Postpone Making Tax Digital for Income Tax

Having listened to stakeholder feedback from businesses and the accounting profession, the Government have announced that they will introduce Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA) a year later than planned, in the tax year beginning in April 2024. This will give the self-employed and buy to let … Continued

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De-Stress Your Audit

Are you required by law or regulations to have your financial statements independently audited? Our Audit Team are experts in developing note based and cost-effective audit plans. We are not city centre based and can offer the best value audits for your business. #MoreThanJustNumbers #AccountingForTheFuture External Audits For more information, … Continued

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Coronavirus Job Retention Scheme (CJRS) Extended

The guidance has been updated with the CJRS end date and information on when claims for September must be submitted.  The CJRS has been extended until 30 September 2021. From 1 August 2021, the Government will pay 60% of wages up to a maximum cap of £1,875 for the hours … Continued

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Accounting for Import VAT on your VAT return

HMRC have recently updated their guidance on accounting for VAT on goods imported from outside the UK which, since Brexit, includes the European Union. Businesses registered for VAT in the UK can account for import VAT on their VAT Return for goods imported into: Great Britain (England, Scotland and Wales) … Continued

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