by AJN Accountants | May 17, 2022 | Accounting, Advice, Business, News
The untimely death of a sole shareholder/director of a private limited company can bring business to a standstill and put considerable pressure on the deceased’s personal representatives. When a sole director dies – and if there are surviving shareholders or members –...
by AJN Accountants | May 10, 2022 | Accounting, News, Tax Planning
All late paid tax now carries interest at 3%. Where the tax has been outstanding for more than six months a 5% surcharge on the outstanding amount may also apply. Surcharge rates of up to 15% can apply for VAT paid just one day late. If you can only pay some of your...
by AJN Accountants | Mar 22, 2022 | Accounting, Advice, News, Small Businesses, VAT
The hospitality and tourist sectors have been supported through the Covid-19 pandemic by being able to pay a reduced amount of VAT to HMRC in respect of most sales. The reduced VAT rate was 5% from 15 July 2020 to 30 September 2021 and 12.5% from 1 October 2021 to 31...
by AJN Accountants | Mar 11, 2022 | Accounting, Business, News, Tax Planning, VAT
For VAT periods starting on and after 1 April 2022 all VAT records must be recorded digitally and returns must be submitted under the Making Tax Digital (MTD) regime. If you are not already submitting your VAT returns using MTD-enabled software (or asking us to do so)...
by AJN Accountants | Mar 7, 2022 | Accounting, Advice, News
Do you remember those annoying ‘claim back your PPI’ adverts? Thousands of people received repayments, which included interest calculated at 8% on the PPI premiums refunded. Where the PPI settlement was paid after September 2013 the bank or insurance...
by AJN Accountants | Mar 4, 2022 | Accounting, News, Tax Planning
The level at which students begin to pay back their loans has been lowered from £27,295 to £25,000 From September 2023, the interest rate on student loans taken out has also been set to RPI+0% and the length of time that students pay their loans back until they can be...
