Latest blogs for Services

A business must compulsorily register for VAT if taxable 12 month turnover exceeds £85,000. They can voluntarily register for VAT as soon as they start trading, providing they expect to make taxable supplies in the future.   Businesses that provide to other businesses may choose to register for VAT voluntarily before the registration threshold is…

There has been some controversy on claims made on DIY building schemes. HMRC have updated their guidance on goods and services that can be claimed under the VAT DIY Housebuilders’ Scheme.   The list is extensive and gives an ABC of items that are allowed, from Agas to woodworm treatment – but there’s a catch,…

From Monday 18th October 2021, clients using Sage50 Accounts will be sent a software update for version 28.   Some of the new features of the software:   New – customisable business dashboard showing you key business information, without the need to run numerous reports New – access the Sage 50cloud Accounts Help Centre directly…

As we are hopefully now at the start of the end for Covid related business activity disruption. The accounts of local SME’s are now starting to show part of the damage they have experienced through the lock-downs and associated restrictive measures. The overall effect upon turnover for the year-ends of 2020 has not been as…

The new year is fast approaching and so is the deadline for filing your Self Assessment tax return – 31 January 2022 will be here before you know it.  Our tax experts can ensure everything is completed accurately and submitted on time.   Even if you file your 2020/21 tax return now, you do not…

Kickstart Scheme Did you know there is a grant available from the Government to hire young people for 6-month placements? It provides funding to employers to create jobs for 16- to 24-year-olds on Universal Credit. The Kickstart Scheme covers 100% of National Minimum Wage and offers six-month jobs for 25 hours per week for young…

The chance to take advantage of the generous temporary uplift in the AIA annual limit of £1,000,000 is coming to an end when it is due to revert to £200,000 from 1 January 2022.   It is a perfect time to plan to capitalise on claiming 100% tax relief on qualifying purchases without getting caught…

HMRC are now issuing six month late payment penalty notices, as the due date for 2019/20 tax payments was over seven months ago (includes consideration to the additional months extension as a result of the pandemic). Taxpayers facing financial difficulties due to the impact of COVID-19 may have entered into a time to pay arrangement…

This half yearly payroll update: September 2021 Looks at: Abolition of early year updates Whitings LLP  outsourced payroll Modulr faster payment system Changes in right to work regulations Terminal changes to CJRS Payrolling benefits in kind Pensions dashboard programme Reform of statutory sick pay New fuel rates Freeports and employer’s NI holidays Benefits of using…

When COVID directly impacted upon the UK in Spring 2020, the Government introduced a range of measures specifically targeted to help SME businesses survive the expected period of financial strain. Such businesses should now be planning ahead for when this support is gradually withdrawn: 21-Jun-21 Deadline for arranging with HMRC when to repay COVID related…