Latest blogs for Services

11th January 2022 31-Jan-22 tax: can it be reduced?

For those clients that prepare self-assessment personal tax returns, 31 January is always tax payment day. This tax will primarily be based on your personal income for the tax year ended 5 April 2021, potentially made up of 2 components: The balancing payment for 2020/21 (total 2020/21 tax less 31-Jan-21 and 31-Jul-21 payments on account).…

11th January 2022 Chancellor announces £1bn in grants

On 21 December 2021, Chancellor of the Exchequer, Rishi Sunak, unveiled a £1 billion COVID-19 fund, including cash grants of up to £6,000 per premises for each eligible firm in the hospitality and leisure sector.   Mr Sunak said the government would also help certain firms with the cost of sick pay for COVID-related absences. The Chancellor also announced…

6th January 2022 HMRC deadline now effectively 28-Feb

Due to the continuing difficulties that Covid continues to present, today HM Revenue and Customs (HMRC) have announced they are waiving late filing and late payment penalties for Self Assessment taxpayers for one month – giving extra time, if needed, to complete your 2020 to 2021 tax return and pay any tax due.   HMRC…

5th January 2022 Home office pod: the tax pros & cons

If there is one question I have been asked by our business clients more than any other since the pandemic began, it is “How can I tax efficiently purchase a garden home office pod, to run my business from”?   Unfortunately there is no simple single answer to this question, and best advice will depend…

5th January 2022 HMRC latest guidance for employers

HMRC has published the latest edition of the Employer Bulletin. This guidance for employers, and their agents, includes articles on: reporting PAYE information in real time when payments are made early at Christmas preventing and correcting payroll errors Health and Social Care – National Insurance contribution increase UK-Swiss Convention on Social Security Coordination COVID-19 –…

4th January 2022 Business credit rating: top 10 tips

For some businesses having a strong credit rating is fundamental to their future success. It can affect availability of supplier credit, the ability to borrow and eligibility to be on customer/prospect tender lists as an approved supplier. For many other businesses, however, this credit rating is totally irrelevant. Experian is one of the major rating…

11th December 2021 Tax exemption of Christmas parties/gifts

Businesses may be hoping they can hold their annual Christmas parties this month. Providing the event is annual, open to all employees and the total cost, including VAT, is less than £150 per person (including non employee guest attendees), this will be a non-taxable benefit in kind (ie free of PAYE tax and National Insurance…

10th December 2021 COVID: business interruption insurance claims?

Those businesses with comprehensive commercial insurance cover will possibly be covered for ‘business interruption’. This cover will typically include losses arising from events that close or severely disrupt operations. The COVID pandemic has already led to many claims under this. The insurance industry (as you might expect?) has warned that few policies are likely to…

9th December 2021 Data Protection and the Blended Working Environment

  In light of the Government’s announcement to go to Plan B, our IT services subsidiary company, decisive:it,  have written an article on data protection and security whilst working from home: Data Protection and the Blended Working Environment

9th December 2021 Xero: entering invoices and bills and setting up your own invoicing system

Creating invoice templates In Xero you can customise the look of your invoices by using an invoice template. This allows you to add different payment terms and logos, as there is no limit on the amount of invoice templates you can add you can have as many as required for all different customers. Below are…