It was recently reported in the press that the Reverend Mike Hall had been away from home working and had received a call from his neighbours concerned that there was someone in his house. When he returned to his house…
Reporting benefits and expenses digitally
HMRC are encouraging employers to consider payrolling the expenses and benefits they pay to staff. The benefit of doing this will mean that employers will no longer need to submit multiple P11Ds and employees will be more likely to…
Reporting PAYE information in real time when payments are made early at Christmas
HMRC would like to remind employers of the permanent easement on reporting PAYE information in real time which has been in place since 2019. HMRC are aware some employers pay their employees earlier than usual over the Christmas period. This…
Government announce delay of making tax digital (MTD) for income tax
The government have announced that MTD for income tax will be delayed. A statement was released by the government saying: “The government recognises the challenges faced by many UK businesses and their representatives as the country emerges from the pandemic…
New penalty and interest regimes for VAT from 1 April 2022
The current penalty regime will be replaced by a points based system. From 1 April 2022 any VAT returns that are submitted late to HMRC will incur 1 point. No penalty will apply to the VAT registered person(s) until the…
Protecting your business against fraud
Instances of fraud have increased during the pandemic – what can you do to help mitigate the risks? Throughout the Covid-19 pandemic, businesses have experienced an increase in the level of fraudulent activity. Many firms have moved their business…
HMRC announces proposed reforms to the tax system for small businesses
HMRC have recently announced proposed reforms to the tax system for small businesses, these changes are due to come into force by 2023 and will mean businesses will be taxed on profits arising in a tax year, rather than…
Carrying holiday forwards – how new legislation has changed the rules
During 2020 the government passed new emergency legislation to respond to the coronavirus pandemic and to protect workers from losing their statutory holiday entitlement. These regulations enable workers to carry holiday forward where the impact of coronavirus means that it has…
VAT Domestic reverse charge for the construction industry
The domestic reverse charge has been delayed twice by HMRC but as of 1 March 2021 it must be used for most supplies of building and construction services. The charge applies to VAT registered businesses who are supplying/receiving services that…
Want a rewarding career?
Do you have the skills required to become one of the country’s leading professional service providers? If the answer is “Yes” and you would like to join a leading professional firm of Chartered Accountants and Business Advisers here in North…
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