The tax benefit of gift aid donations
The gift aid scheme was introduced in October 1990. It enables charities to reclaim basic rate of Income Tax from HMRC on qualifying...
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Allowances for working from home
Many employees became eligible to claim a tax allowance for working from home during the Covid pandemic. However, since the Covid...
Self Assessment threshold change
From tax year 2023 to 2024 onwards, the Self Assessment threshold for those taxed through PAYE only, will change from £100,000 to...
How long should I keep my tax records?
We're often asked by our clients how long books and records should be kept. Here we have put together an overview of the rules. As you...
HMRC late payment interest rates to be revised after Bank of England increases base rate
It was announced on 11 May 2023 that The Bank of England Monetary Policy Committee would increase the Bank of England base rate to 4.5%...
Business Energy Aid Toolkit
The Business Energy Aid Toolkit provides manufacturers with access to experts and equipment, helping you make significant reductions to...
What has changed in the funding of social care?
Back in 2021 it was announced that social care in England was to be reformed. The original proposals included a cap on how much an...
Farming News: Delinked Payments: updated guidance
DEFRA recently updated the guidance for delinked payments on GOV.UK. The guidance sets out whether you’re eligible for delinked payments,...
Older people could be caught out by tax in 2023-24.
One reason state pension claimants might be caught out is the recent increase in the state pension. In April this year it rose from...
Child benefit: Parents to be given state pension boost after Government plans to overhaul tax credit
Under recently announced reforms, the government wants to address the fact that some parents who have not claimed Child Benefit could...
HMRC makes U-turn
HMRC had announced they were removing the option to download Self assessment (SA) tax return forms 2022/23 from gov.uk (which would have...
Enterprise West Yorkshire Start Up Forum: 10th May
Shared from The City of Bradford Metropolitan District Council: Following the success of the first Start Up Forum in October 2022, West...
Common VAT mistakes to avoid
Is a flapjack a cake or a biscuit? Does it matter? Well, for VAT purposes the answer is yes because one is zero rated and the other...
Royal Mail
Royal Mail offered a settlement that has been agreed by the Communication Workers Union’s (CWU) Postal Executive Committee (PEC) and...
What are classified as company cars and vans for the purposes of Benefits In Kind?
HM Revenue & Customs have highlighted how a 2020 tax case affected how vehicles are treated for Benefit In Kind purposes. The case...
New Rates of Road Fuel Scale Charge
Please remember to update your VAT road fuel scale charges which apply from the next accounting period beginning on or after 1 May 2023....
HMRC Receipts
HMRC have published a report of their total receipts for April 2022 to March 2023. It makes for a somewhat interesting read (if you are...
Summary of pension changes
The State Pension rose by 10.1% from April 2023, regardless of whether you are eligible for the new Single Tier (flat rate) State Pension...
NIC relief for those who employ veterans
Employers who take on those who have worked for the UK military can claim relief on secondary employer’s national insurance contributions...
Landlord EPC Requirements
Landlords of privately owned non-domestic rented properties need to be aware the law changed on 1 April 2023. There is now a requirement...
Grant for capital items to improve farm productivity
You may be able to apply for a grant for capital items to improve farm productivity through more efficient use of water for irrigation,...
Ffion passes first ACCA exam
Congratulations go to Ffion, who passed her first ACCA exam with flying colours. She is now working towards the next exam. Well done,...
Basis Period Reform Factsheet
The way sole traders and partnership profits are taxed is about to change. We have written a factsheet to explain how this might affect...
Farming Equipment and Technology Fund 2023
Farming, horticultural or forestry businesses in England can apply for a grant for specific items of equipment and technology. The...
Fine for late filing of self assessment tax returns
The current standard £100 fine for late filing of self assessment tax returns is due to be changed to a points-based system from 2026...
State pension age
The plan to bring forward the increase in state pension age to 68 has been delayed following a review which suggests a fall in life...
Rules for employing young people.
As April is Child Employment Awareness Month, we thought it was a good opportunity to remind employers of the rules when it comes to...
New holiday let rules proposed
Results of a consultation have been published which propose legislation which would mean that converting homes into short-term holiday...
Changes you might see to your Class 2 National Insurance contributions
What are Class 2 National Insurance Contributions (NICs)? You make Class 2 National Insurance contributions if you are self-employed. It...
VAT Errors: What you need to know
If you find a VAT error on a return you have already submitted there are two ways to make the correction, depending on the circumstances....
Fast Growth 50 2023
Fast growth firms - normally defined as achieving 20% growth per annum - make up fewer than 1% of the UK business population but...
New ‘Help to Grow’ website for businesses
The Department for Business and Trade (DBT) has unveiled a new centralised website, targeted at helping the UK’s 5.5 million businesses....
Farewell to Andy and Gordon
After many happy and productive years, the time has come for us to say farewell to two of our longest standing team members. Andrew...
Happy 50th birthday to VAT
Saturday 1 April marked the 50th anniversary of value added tax being introduced in the UK. It was first introduced after the UK joined...
New NMW rates
The ACAS website provides some very useful resources for employers. The guidance on their site regarding National Minimum Wage rates has...
Are you thinking of setting up your own business?
Are you thinking of scrapping your 9 - 5 job and working for yourself instead? Whilst this might seem really appealing and something you...
The King's Awards for Enterprise
Businesses will soon be invited to apply for the UK's most prestigious business award when applications open in May. The Queen’s Award...
Making the rules for farming easier to find
In a recent article on DEFRA's blog, they stated: Farming legislation affects all farmers and land managers. As part of continuing work...
HMRC will no longer automatically issue paper tax returns
HMRC have recently issued a notice saying that paper tax returns will no longer be automatically issued as they are encouraging online...
Cyber awareness campaign
This week the National Cyber Security Centre (NCSC) is launching its Cyber Aware campaign. Small businesses are the backbone of the UK,...
Guide to building business resilience
For small business owners, rising costs can be a real challenge. The new guide to building business resilience from the British Business...
Rates and thresholds for employers 2023 to 2024
HMRC have updated their rates and thresholds for employers operating payrolls or providing expenses and benefits to employees, for the...
Extra time to make voluntary NI contributions
We recently wrote about checking whether it was worth making voluntary NI contributions before 5th April... but you will now have an...
HM Revenue & Customs campaign is targeting those who are not correctly reporting short-term property
HMRC is writing to those taxpayers with short term letting income through sites such as Airbnb and Booking.com, etc who they believe may...
New UK Version of GDPR
The Data Protection and Digital Information Bill was first introduced last Summer and paused in September 2022 so ministers could engage...
Spring Budget: Summary for Business Owners
Yesterday (15th March), the Chancellor, Jeremy Hunt, delivered his Spring Budget. As seems to be the way, there weren’t any major...
Farming news: grants available in 2023
DEFRA have written a blog sharing details of grants available in 2023. This 'at a glance' summary is a useful way to see what may be...
Businesses urged to disclose till misuse
HMRC have released the following request for till misuse to be disclosed... Businesses misusing their tills to evade paying tax should...
HMRC Budget payment plan
If you like the idea of spreading your tax bill, self-assessment taxpayers whose payments and returns are up to date have the the option...
End of year tax planning – Have you utilised all your tax reliefs and allowances
It has certainly been a turbulent year. With quite significant changes ahead, tax planning is important for business owners and...
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