My Latest Blogs
9th June 2021
Paying VAT by Direct Debit – check your HMRC records
HMRC are in the process of moving VAT records for non-MTD registered traders from their old database to a new one. Due to banking requirements if HMRC does not hold a valid e-mail address for a trader, when the data is transferred to the new database, any existing direct debit mandate will be cancelled.…
19th February 2021
Deadline looms for CBILS & BBL schemes
We are now just over a month away from the 31st March 2021 deadline for applications for the Bounce Back Loan (BBL) and Coronavirus Business Interruption Loan Scheme (CBILS). The schemes were introduced to provide businesses with much needed working capital during the global pandemic, businesses benefited from no capital repayments being required for…
25th November 2020
Making Tax Digital for Corporation Tax
Earlier this month HMRC published their consultation and plans for Making Tax Digital for corporation tax (MTD for CT). HMRC have proposed the main elements of the scheme to be:- All entities within the charge of corporation tax will need to maintain their records digitally; Those entities should use MTD compliant software to…
7th June 2019
Making Tax Digital – when you need to sign up and what you’ll need
We are now two months past the start date of the 1st April 2019 for Making Tax Digital for VAT and into the last month of what will be some businesses first VAT quarter under Making Tax Digital. Some businesses may not be aware that even though they may be on MTD compliant software that…
16th November 2018
Don’t dwell on your ATED obligations
With only just under 6 months until the 2019/2020 ATED return filing deadline of 30th April 2019. It may be an appropriate time to consider whether your limited company may be obliged to submit an ATED return. The annual tax on enveloped dwellings (ATED) applies to companies which own an interest in a residential property…
8th November 2018
Making Tax Digital for VAT public pilot opens and deferral for some businesses
HMRC has opened the Making Tax Digital for VAT (MTDfV) public pilot. However certain VAT-registered businesses (around 3.5% according to HMRC) with more complex requirements will be deferred from being subject to MTD for six months. Essentially, the public pilot is now open to sole traders and companies using standard VAT accounting. This applies whether…
21st September 2018
HMRC begin their MTD campaign
With the countdown to MTD just 6 months away, HMRC have launched their online marketing campaign to raise awareness of the new system to small business owners. This follows some criticism from professionals including accountants of the lack of preparation, support and advice from HMRC ahead of the changes. This knowledge gap has been felt…
5th April 2018
Deadline Approaching for ATED forms
If you have a residential property which is worth more than £500,000 and is held in a company then you will be required to complete an Annual Tax on Residential Dwellings (ATED) form. The deadline is fast approaching with all ATED forms for 2018 to 2019 tax year being due for filing by 30th…