by AJN Accountants | Feb 23, 2024 | Accounting, Advice, FAQs, Small Businesses, VAT
In the world of VAT, a business can be unaware of a fraud in the supply chain and still be regarded as a fraudster, if they have not properly vetted their suppliers or has ignored signs of potential connections to fraud. In 2023 alone there were three high-profile...
by AJN Accountants | Feb 17, 2024 | Accounting, Advice, Business, News, Small Businesses, Tax Planning
If you engage part time workers, or staff who work irregular hours, on permanent contracts you need to be aware of new rules affecting holiday pay calculations which take effect for holiday periods starting after 1 April 2024. Getting holiday pay right is vital,...
by AJN Accountants | Dec 11, 2023 | Accounting, News, Tax Planning
A dramatic simplification of the MTD processes to be introduced in 2026 including no EOPS; cumulative submissions each quarter; and restrictions for complex situations. Taxpayers with turnover over £50,000 will be brought into MTD ISTSA from April 2026. The £50,000...
by AJN Accountants | Dec 4, 2023 | Accounting, Advice, Financial Planning, News, Small Businesses, Tax Planning
Cash basis to replace accruals for the self-employed as standard tax reporting method for 2024-25 (first year of tax year accounting). From April 2024, as part of a move to simplify calculation of taxable profits for Making Tax Digital, all self-employed taxpayers and...
by AJN Accountants | Dec 1, 2023 | Advice, News, Tax Planning
HMRC has updated its Employment Income Manual to bring the guidance on charging electric company cars at home in line with the legislation. Until now, the guidance in the Employment Income Manual (EIM23900) has contradicted the legislation in advising that if an...
