by AJN Accountants | Jul 13, 2022 | Accounting, Advice, Tax Planning
Scammers are very aware of the tax payment deadlines and will step-up their efforts to divert payments from taxpayers to their own bank accounts. When you complete your tax return by logging into your personal tax account (see below) you can now choose to scan a QR...
by AJN Accountants | Jun 29, 2022 | Tax Planning
The making tax digital (MTD) rules currently only apply for businesses that submit VAT returns. Those traders need to keep their VAT records in a digital format and transmit their VAT return data directly from their digital records to HMRC using MTD-compatible...
by AJN Accountants | Jun 16, 2022 | Advice, Landlords, Property, Tax Planning
Ukrainian refugees are being hosted by private individuals and organisations in spare rooms and properties across the UK. The Government is providing hosts with a monthly payment of £350 per property, administered by local authorities. This payment is only given to...
by AJN Accountants | Jun 10, 2022 | Accounting, Advice, Business, Financial Planning, Tax Planning, VAT
It is important to keep your personal money and your company’s money completely separate. If you use your company’s bank card to buy personal items or to pay your own bills, that expenditure is treated as a loan to you. The loan creates a corporation tax...
by AJN Accountants | Jun 8, 2022 | Accounting, Advice, News, Tax Planning
The rates for national insurance contributions (NIC) increased by 1.25 percentage points for everyone on 6 April 2022. From 6 July the NIC starting threshold will rise to £12,570 per year (£1,048 per month) for employees. This means that some lower paid employees will...
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...
