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CONSIDER A SALARY SACRIFICE SCHEME

CONSIDER A SALARY SACRIFICE SCHEME

Date posted: 15th Mar 2022

Salary sacrifice schemes are popular schemes but there advantages have been reduced by HMRC over the years. One of the most popular areas of salary sacrifice arrangements relate…

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PAYROLLING BENEFITS IN KIND

PAYROLLING BENEFITS IN KIND

Date posted: 15th Mar 2022

HMRC are encouraging more employers to payroll employee benefits in kind rather than declaring benefits on the end of year P11d forms. If employers haven’t already done so…

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CHANGES TO ACCOUNTING FOR VAT ON IMPORTS

CHANGES TO ACCOUNTING FOR VAT ON IMPORTS

Date posted: 15th Mar 2022

HMRC have recently updated their guidance for VAT registered importers. These traders must account for postponed import VAT on their VAT returns for the accounting period which covers…

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VAT RATES FOR HOSPITALITY SECTOR DUE TO INCREASE FROM 1 APRIL

VAT RATES FOR HOSPITALITY SECTOR DUE TO INCREASE FROM 1 APRIL

Date posted: 15th Mar 2022

Early in the COVID-19 pandemic, the Chancellor reduced the rates of VAT for the leisure and hospitality sector to just 5%. That reduced rate applied from 15 July…

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Investment Review of 2021

Investment Review of 2021

Date posted: 26th Jan 2022

2021 continued to be dominated by COVID-19 however, on a positive note over seven billion COVID-19 vaccines were administered worldwide over 2021, helping life to return to a…

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HMRC move the accounting date goalposts for up to half a million businesses

HMRC move the accounting date goalposts for up to half a million businesses

Date posted: 10th Jan 2022

Businesses need to be aware of plans by HMRC to reform reporting dates which could impact on upcoming tax liabilities advises Lee Watson, tax partner at Clive Owen…

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The future of UK grant funding

The future of UK grant funding

Date posted: 6th Jan 2022

The Shared Prosperity Fund – the future of UK grant funding? Many regions of the UK, including the North East and Yorkshire, have historically benefited from good availability…

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Tax relief for pre-trading expenses

Tax relief for pre-trading expenses

Date posted: 5th Jan 2022

There is a lot of preparation involved in setting up a business, and costs will be incurred, which may be substantial. Before it is able to start trading,…

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Using your capital gains tax allowance

Using your capital gains tax allowance

Date posted: 5th Jan 2022

All individuals are entitled to an annual exempt amount for capital gains tax purposes. Net gains (chargeable gains less allowable losses) for the tax year are free of…

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Struggling to pay your tax bill – what should you do?

Struggling to pay your tax bill – what should you do?

Date posted: 5th Jan 2022

The January self-assessment payment deadline is not well timed, falling as it does in a month when people may be already struggling to pay their Christmas credit card…

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