HMRC is reminding their Self-Assessment taxpayers that they must declare COVID-19 payments in their tax return for the 2021 to 2022 tax year. More than 2.9 million people claimed at least one Self-Employment Income Support Scheme (SEISS) payment up to 5 April 2022. These grants are taxable and should be…
This month’s Tax Update focuses on the Government’s U-Turns from 23rd September’s plans in order to steady the financial markets.
HMRC is urging their Self-Assessment customers to be vigilant of fraudsters and scams asking for personal information or bank details.
This month’s Tax Update is understandably focused on the recent mini-budget announced by the Government to stimulate economic growth.
To protect your intellectual property outside of the UK, you usually need to apply in each country you want protection in. Intellectual property (IP) rights are territorial. They only give protection in the countries where they are granted or registered. If you only have UK protection, others may be allowed to…
On Friday 23rd September 2022, the Chancellor Kwasi Kwarteng announced a series of growth measures that the Government thinks will help businesses and households get through this winter and beyond. The chancellor announced: The 1.25% percentage point rise in National Insurance contributions will be reversed from 6 November 2022 and…
Back to School – Childcare Vouchers or Tax-Free Childcare Account? Read more on our recent Blog Post, CLICK HERE>>> Tax-Free Help Paying for Childcare Self-employed Need to Plan for BIG Tax Bills in 2023/24 The changes to the basis of assessment of self-employed profits are scheduled to change from 6…
Back to School - childcare vouchers or tax-free childcare account? We take a look at which government scheme is right for employers and staff.
You will probably be aware that Making Tax Digital (MTD) became compulsory for all VAT registered business (regardless of turnover) in April of this year. The new rules require all qualifying businesses to use HMRC compliant software such as Intuit QuickBooks, Xero, Sage, Dext with Receipt Bank or FreeAgent, etc.,…
Prime Minister Candidates and Possible Tax Cuts With the departure of Boris Johnson, the contenders as leader of the Conservative Party and Prime Minister (PM) have now been whittled down to the last two – Rishi Sunak and Liz Truss. Whoever wins will need to appoint a new chancellor and…