by yasiradnan94 | Apr 21, 2022 | Accounting, Advice, Business, Financial planning, Tax planning, VAT
Contract termination fees can be a bitter pill to swallow when you just want out of an expensive agreement. What’s worse is that some suppliers will charge VAT on top of the cancellation fee while others will not. The law has been a bit of a mess but HMRC has...
by yasiradnan94 | Apr 11, 2022 | Accounting, Advice, Financial planning, Tax planning
In uncertain times people instinctively look for alternative ways to invest and some may choose cryptoassets such as Bitcoin and non-fungible tokens. If you decide to go digital with your investments, think about how the profit or loss you make on these assets will be...
by yasiradnan94 | Mar 25, 2022 | Accounting, Business, Financial planning, Tax planning
The Covid-19 support grants (CJRS, SEISS and Eat Out to Help Out) are taxable and should be declared on your business’ tax return. For corporation tax (CT) you must report amounts received in the accounting period covered by the return, not grants claimed for...
by yasiradnan94 | 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 yasiradnan94 | 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...
by yasiradnan94 | Feb 12, 2022 | Accounting, Advice, News, Tax planning
Following the increase in the base rate, HMRC has confirmed that the late payment interest rate will rise a quarter of a percent from 21 February HMRC has increased the current late payment interest rate applied to the main taxes and duties to 3% from 2.75% effective...
