Now is the time to prepare details of your taxable benefits
The last tax year has not long ended, but now is the time to think about how you report taxable benefits provided to your employees.
Workplace childcare vouchers – get the best out this scheme during COVID-19
As many employees began working from home during the height of the coronavirus pandemic, they used less paid childcare, as many before school clubs and nurseries were closed. Continue reading
Five ways cloud accounting could boost your business
Cloud accounting is simple, fast, and efficient. So why are so many businesses refusing to make the switch?Continue reading
New figures highlight success of coronavirus support schemes
Some 2.8 million people took advantage of the Self-Employment Income Support Scheme (SEISS) in the last year, the latest figures have revealed.
HMRC letters remind businesses of VAT payments change
Reminder letters are being sent out to tens of thousands of UK companies explaining changes in the Making Tax Digital (MTD) system and how it affects them.
Deadline to pay deferred VAT or arrange payment plan “fast approaching”
The deadline to pay deferred VAT or arrange a payment plan is “fast approaching”, the Institute of Chartered Accountants in England and Wales (ICAEW) has warned.Continue reading
Register for Making Tax Digital for VAT or risk penalties, HMRC warns
Businesses who are required to use Making Tax Digital (MTD) for VAT but not registered could face fines of up to £400, it has been warned.
Bounce Back Loan Scheme fraud rising
The Bounce Back Loan Scheme (BBLs) which has been described as a ‘giant bonfire’ of taxpayers’ money by a senior banker, has seen fraud investigations rise by more than 50 per cent in some areas.
Cash basis versus accruals basis
If you manage a business and record its expenses and revenue, you need to find a recording system that suits you. While cash basis accounting has its benefits, accrual accounting can be a more powerful tool for operating your business. So what is the difference?Continue reading
UK to roll out independent tariff suspension scheme
Tariffs on some imported goods will be partially or wholly suspended to help UK firms become “more globally competitive”, it has been revealed.Continue reading
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