Latest Business Support

13th June 2022 NIC: All Change!

HMRC Changes to the National Insurance contributions for 2022-2023 tax year, are you confused? Due to the COVID-19 strain on the NHS, the government announced that they would be increasing the National Insurance contributions by 1.25% as a means to increase spending on health and social care. The Health and Social Care Levy was applied…

10th June 2022 30-Jun-22: Covid Recovery loan deadline approaching

Time is running out for businesses to apply for Recovery Loans, the follow on Covid-support product from the CBILS.   In order to qualify for the Recovery Loan Scheme (RLS), your business has to have been affected by Covid-19 and you have to apply and have received the funds by 30th June 2022. The RLS…

7th June 2022 Virtual Finance Officer: Outsource your book-keeping to us

Following the increase in use of cloud accounting software’s like Xero, QuickBooks and Sage over the past few years, businesses have never been better positioned to look to outsource their accounting function.  For all businesses, getting the accounting function working efficiently can be challenging, as you will need potentially different people with different skills: someone…

16th May 2022 e-Commerce: Are you finding keeping your business’s records a nightmare?

Understanding how to account for your business’s transactions with online selling platforms can be complicated. Ensuring that you are submitting the correct information to HMRC can be tricky as not all platforms have the same VAT treatment.   A2X could make your life easier by saving you time and headaches from the complex world of…

10th May 2022 HMRC starts chasing up SEISS overpayments

HMRC has started to recover overpayments of Self-employment Income Support Scheme (SEISS) grants. From April, HMRC is writing to taxpayers whose entitlement to the fourth or the fifth SEISS grant has reduced by more than £100 to ask them to repay amounts that were overpaid. Entitlement to the fourth and fifth SEISS grants can be affected…

8th April 2022 Reduced rate of VAT for hospitality, holiday accommodation and attractions comes to an end!

In July 2020 the government announced that VAT registered business who operate in the hospitality and tourism industry could use a temporary 5% reduced rate of VAT on certain supplies compared to the standard 20% to help them through the Coronavirus pandemic.   The scheme had been extended multiple times, and from 1 October 2021…

2nd March 2022 Companies House Proposed Filing Reforms

The Government have announced plans to revamp filing at Companies House for small companies & micro-entities in a move that will see additional information made available to the public when filing company accounts. The reforms are largely seen as an attempt to reduce the levels of economic crime committed through the country.   Currently, small…

28th February 2022 New HMRC Advisory Fuel Rates

HMRC have released their latest Advisory Fuel Rates to be used from 1st March 2022.   These rates should be used when you:-   Reimburse employees for business travel in their company cars Need employees to repay the cost of fuel used for private travel   Rates The advisory electricity rate for fully electric cars…

28th February 2022 Increased National Living Wage (NLW) & National Minimum Wage (NMW) Rates for 2022

In accordance with the government’s desire for the NLW to reach two-thirds of median earnings by October 2024, the following increases to the NLW & NMW have been adopted for 2022-23 tax year.     The new rates will be introduced from 1st April 2022 and will be applicable to all payments made after this…

17th February 2022 The Perfect App Stack?

With over 1,000 apps available on the Xero App Store alone, it can be difficult to know which apps are best suited to your business.   Whilst every business is unique and will have different requirements, I believe there are two key app types that should always be part of your app selection, or “app…