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Can you avoid the P11D process? - February 2, 2022

Every year employers across the UK submit an end-of-year report to HM Revenue & Customs (HMRC) outlining the benefits provided to each employee and director, which were not included in their wages. …
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Give yourself Time to Pay - January 6, 2022

Taxpayers who are unable to pay their Self-Assessment (SA) bill can use the option of paying by instalments with a Time to Pay arrangement with HM Revenue & Customs (HMRC). If you cannot pay a Self-Assessment…
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Cash no longer king as card payments surge in lockdown - January 6, 2022

Whether it is down to the spread of the Coronavirus or just a general trend to a more cashless society, card payments have boomed in the last couple of years. While restrictions were in place, hardly anyone…
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Be prepared for changes to Corporation Tax in 2023 - January 6, 2022

The 2023-24 tax year may seem a long way off, but it is important that companies are prepared for changes to the system a little more than year down the line. The main rate of Corporation Tax (CT) will…
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Accountants critical to the success of SMEs - January 6, 2022

Small and medium-sized enterprises (SMEs) are the lifeblood of the country, accounting for 99.9 per cent of all businesses across the UK. At the start of 2021, there were estimated to be 5.6 million UK…
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How the penalty system for late tax submissions is changing - January 6, 2022

Under new rules set by the Government, the system of penalties for VAT and Income Tax Self-Assessment (ITSA) are changing. The new system of fines is aimed at tackling non-compliance by taxpayers who repeatedly…
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Income tax basis periods – What unincorporated businesses need to know - January 6, 2022

All unincorporated businesses, including sole traders, the self-employed and trading partnerships, will be taxed on profits generated in the 12 months to 5 April (or 31 March) each year from 2024-25. Here…
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