Value Added Tax (VAT) returns - The different boxes explained
Box 1 VAT due on sales and other outputs In this box you should enter the total VAT you have charged on all supplies of both goods...
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WHAT IS PENSION CREDIT?
Pension Credit has been in the news quite a bit recently in the context of who will be entitled to the Winter Fuel Payment when the...
5 April 2025 deadline to top up your National Insurance
Depending on where you are in life, you may think retirement is something you do not need to think about just yet. However, ensuring...
Are you caught in the 60% tax trap?
Recent media coverage has highlighted that over 500,000 individual taxpayers are caught in the ‘60% tax trap’. The 60% just refers only...
Yet another HMRC scam letter
We have been made aware that a letter being sent is asking the recipient to verify financial information with HMRC is not genuine. The...
Companies House to join GOV.UK One Login
From autumn 2024, Companies House online services will start moving to GOV.UK One Login. GOV.UK One Login allows users to access a range...
Business Finance Week - 25/9 to 3/10
From British Business Bank: With a host of free nationwide and regional in-person events, webinars and more, Business Finance Week helps...
Additional information required for RTI
We understand that some of the additional information required to be reported for employee payments under RTI is being deferred until at...
Supercharge your business growth with the Small and Mighty Enterprise Programme
Small Business Britain has opened up registrations for its September instalment of the Small and Mighty Enterprise Programme. This...
Finalists announced for Skipton Business Awards
The finalists have now been announced for this year's Skipton Business Awards - which take place on Monday 7th October. We're thrilled to...
HMRC change the way repayments are made to PAYE taxpayers
HM Revenue and Customs has changed how it repays overpayments to PAYE (Pay As You Earn) taxpayers, i.e. those who do not file Self...
Crackdown on SMEs not abiding by Minimum Wage rules
SMEs (Small or medium-sized enterprises) are being targeted as HMRC cracks down on national minimum wage (NMW) non-compliance. It has...
Government aims to restore stability for farmers as confidence amongst sector low
On 31 July, the government announced its commitment to introduce a new deal for farmers to address low confidence and provide stability...
An update on the Sustainable Farming Incentive
The first Sustainable Farming Incentive agreements for 2024 are now live a s the government starts to deliver on its commitment to...
Letter from HMRC re cryptoassets
We understand that HMRC are in the process of sending ‘one to many’ letters to taxpayers who they believe have disposed of cryptoassets...
Letters about potentially incorrect CIS tax deductions
HMRC are sending ‘One to Many’ letters about potentially incorrect CIS tax deductions We understand that HMRC have commenced yet another...
The long-awaited draft legislation for the change to the Furnished Holiday Let (FHL) rules
The long-awaited draft legislation for the change to the Furnished Holiday Let (FHL) rules was published 29 July 2024. When are the rules...
Construction Companies must be careful with compliance
Contractors within the construction industry are coming increasingly under fire from HMRC - whether a large business with hundreds of...
Budget Date Announced: 30 October
The Chancellor, Rachel Reeves, has announced the date of the next Budget as Wednesday 30 October 2024. We will report more closer to the...
HMRC have issued guidance for pensioners receiving Simple Assessments
Simple Assessments are used by HMRC to collect underpaid tax for those with otherwise relatively straightforward tax affairs. Taxpayers...
New VAT registration tool released by HMRC
A new tool designed to help businesses find out what VAT registration would mean for their business has been released by HMRC. VAT...
What you need to know about the change to Companies House fees
A revised fee structure was recently introduced at Companies House. The Economic Crime and Corporate Transparency Act (ECCTA) introduced...
Adam conquers Mount Toubkal!
He's not back in the office to share his tales just yet, but we're pleased to say that Adam successfully climbed (and made it back down!)...
What might the change of government mean for business owners?
With Labour's landslide victory, what might the change of government mean for the tax you pay? Will there be an emergency budget? Labour...
Adam's upcoming Toubkal Adventure with Rhod Gilbert
Our MD, Adam, is all set to fly out to Morocco for another epic challenge this week! Adam trekked to Everest base camp in 2019, and is...
Don’t lose out on Child Benefit available to children in further education
Parents of children aged between 16 and 19 years of age continuing their education or training after their GCSEs can extend the Child...
Why you should have a Lasting Power of Attorney (LPA)
When family and friends are getting older, you might have thought about setting up LPAs for them. But have you got one in place for...
An overview of buying an electric car for the self employed
For the self-employed there are advantages of going green. These might not be as significant as those enjoyed by employees with company...
An overview of buying an electric car through limited company
Electric cars are becoming increasingly commonplace. Electric cars can provide significant tax advantages where qualifying conditions are...
Skipton Business Awards are back!
Skipton Business Awards are back! We had a fabulous time at last year's ceremony, and it was fabulous to be involved in the event as a...
Businesses urged to check VAT details
HMRC has reported that form VAT 484 has been used in fraudulent attempts to gain access to businesses’ VAT repayments. A HMRC...
North Yorkshire Council: Capital grants for small businesses and enterprises
North Yorkshire Council have shared details of capital grants for small businesses and enterprises under the UK Shared Prosperity Scheme....
P11D deadline coming up soon
Form P11Ds are used by an employer to tell HMRC about the benefits employees or directors are receiving in addition to salary - such as...
Recommendations to improve cyber security
Please find a link below to a guide - produced by Net-Defence - which we thought may be useful to our clients and contacts. The guide...
MTD for Income Tax pilot now live
If you're a sole trader or landlord, you can sign up (voluntarily) for Making Tax Digital for Income Tax. What Making Tax Digital for...
A change in how employers must deal with tips and service charges from 1st October 2024
New legislation on how tips must be allocated takes effect on the 1st October 2024 (originally 1st July 2024), once it receives...
Be aware of scam letters claiming to be from Companies House
Companies House has had reports of suspicious letters claiming to be from them. The letter claims you need to make payment for Enhanced...
Changes in how dividends need to be disclosed for business owners
Changes are in the pipeline for how business owners will need to disclose their dividends and is expected to come into effect from April...
HMRC increase enquiries into holiday lets
A Freedom of Information request* to HMRC showed nearly 2,000 enquiries were started during the 2023-24 tax year into the affairs of...
New rules for company names under the Economic Crime and Corporate Transparency Act
Companies House are running stronger checks on Company names which give a false or misleading impression to the public. An application to...
HM Revenue & Customs (HMRC) warning of social media scams
HMRC is warning that they are aware of direct messages sent to taxpayers through social media. A recent scam was identified on X...
Lily's exam success
Lily, our Apprentice Accountant, recently achieved an outstanding result in her 1st AAT Level 3 exam. We're so proud of Lily, and it is...
Reasons why it’s a good idea to file your tax return early
HMRC recently reported that 300 tax returns were filed in the first week of the tax year. So why would you want to file your tax return...
New rules for registered office addresses
Under the Economic Crime and Corporate Transparency Act, there are new rules for registered office addresses. Companies must now have an...
Be the Chancellor!
Ahead of a general election, the IFS (Institute for Fiscal Studies), in partnership with Nesta (the UK's innovation agency for social...
New online voluntary National Insurance payments service launched
One of the main reasons you need to check if there are gaps in your National Insurance (NI) record is to make sure you have paid...
New rights for carers to take unpaid leave
On 6 April 2024 the Carer’s Leave Act came into force which gives employees a statutory right to take unpaid carer’s leave. This applies...
Paternity leave changes from 6 April 2024
The law on statutory paternity leave and pay changed on 6 April 2024. The main changes are: employed fathers-to-be will need to provide...
Inheritance Tax Receipts (IHT) reach an all-time high
Despite much pre-Budget speculation earlier in the year, there were no major reforms to IHT announced. The amount of IHT collected in...
What expenses can I claim if I am a hybrid worker?
The position is clear for employee travel costs for commuting to a usual place of work. No tax relief is available. But what is the...
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