All VAT-registered businesses must use #MTD for #VAT for their first VAT return period that starts on or after 1st April 2022. For anyone unsure about this, we can help to choose the software that is right for you.
The Government is concerned about the lack of take up of tax-free childcare accounts, with HMRC estimating that only about 25% of families eligible for the scheme have joined. With many parents returning to work following the pandemic, they should be encouraged to set up a tax-free childcare account to … Continued
With inflation rising and households facing the largest ever recorded cost-of-living squeeze, Chancellor Rishi Sunak delivered the Government’s Spring Statement 2022 on Wednesday 23rd March. Take a look at the key points and as we near the start of the new tax year, please talk to us about any of the changes and how they may affect your business, we are here to support you on 01384 376964.
Are you ready for Making Tax Digital for VAT on 1st April 2022, when keeping digital records and filing VAT returns using compatible software becomes mandatory. Folkes Worton are here to help you with the transition on 01384 376964
HMRC has recognised that Self-Assessment taxpayers may need more time to file and pay their 2020-21 tax return due to the continuing pressures of COVID-19 and the Omicron variant. Late filing and payment penalties will now be waived as long as your return is filed online by Monday 28th February … Continued
The current explosion in cases of the Omicron variant of Coronavirus and uncertainty about what effect this will have on staff levels in the New Year, has prompted many in the business community to ask HMRC for an extension to the 31st January deadline for the 2020-21 tax return. Earlier … Continued
From April 2023 a holiday home will only be liable for business rates and potentially qualify for Small Business Rates Relief (SBRR) and that it is actually let as holiday accommodation for a minimum number of days. Homeowners need to have evidence of this starting from April 2022.
In today’s ‘Insight’ Blog we take a look at 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. … Continued
Beware of fraudsters seeking to attack personal tax accounts HMRC is warning individuals not to share their personal information online to avoid their identities being used to claim bogus Self-Assessment tax refunds… Folkes Worton #AccountingForTheFuture #HMRC #selfassessment #taxrefund #fraudsters #phishing
If you’ve visited the Folkes Worton offices recently and spent any time in our Reception area, you may have noticed the big TV screen with our welcome presentation.
In the current economic climate CASH IS KING and managing your cash flow is more important than ever. If you are concerned about the future of your business, then take some time to reflect on where you are and what could happen in the next few months. It is now … Continued
Statutory Sick Pay Rebate scheme (SSPRS) The Government is reintroducing the Statutory Sick Pay Rebate Scheme (SSPRS). This will be a temporary scheme to support employers facing heightened levels of sickness absence due to COVID-19. The SSPRS will refund small and medium-sized employers’ COVID-related SSP costs for up to two … Continued
Church Street will be temporarily closed to traffic from Tuesday 8th until Thursday 20th January 2022 Access to the Folkes Worton offices from the Stourbridge ring road will be temporarily disrupted as Church Street (between St. John’s Road and Parkfield Road) will be CLOSED for underground works from Tuesday 18th … Continued
