The INCREDIBLY INTERESTING History of Income Tax in the UK part 2
It all began in 1582 when Pope Gregory XIII ordered a change of calendar from the Julian (named after Julius Caesar), which had been in use since 42 BC to the Gregorian. The Julian calendar, which consisted of eleven months of 30 or 31 days and a 28-day February (extended to 29 days every fourth year), was […]
The INCREDIBLY INTERESTING History of Income Tax in the UK (part 1)
On 9 January 1799, British Prime Minister William Pitt the Younger introduced a desperate and widely abhorred measure to help cover the cost of his country’s wars with France. As part of his government’s fiscal policy, Pitt introduced a direct tax on his citizen’s wealth – Income Tax. Why was Income Tax introduced in 1799? […]
Challenge Completed! Scott Lees Completes 7in7 Challenge For MNDA
NR Barton’s Senior Tax Manager completes his Christmas challenge of walking 7 marathons in 7 days over the Christmas break. Scott has been raising money for Motor Neurone Disease Association (MNDA). Scott set out to raise £777 for MNDA, he did not imagine that he would be close to raising £10,000 for a great cause. […]
Garden Office Tax Implications
Garden Office Tax Implications Investing in a home office with a garden shed upgrade or working pod makes sense for home workers, but there are a number of tax issues to consider As the Coronavirus pandemic hit and lockdowns were imposed more and more people began to work from home. This has created lots of […]
Expansion of NR Barton audit team!
Pictured left to right: Ben Thomas, Catherine Rogers and Rachael Muphy Wigan based accountancy and business advisory firm NR Barton has appointed former UHY Senior Manager, Rachael Murphy, and former top ten Audit Associate Ben Thomas to strengthen the firms audit team. Rachael brings a wealth of experience with her, gained over 15 years of […]
Default Surcharge: Guidance
In this article we will explain how HMRC apply a default surcharge, how it works and how to avoid them. What is a default surcharge? What happens if I default? How is a surcharge calculated? Is there a minimum surcharge? Special arrangements for small businesses What if I have a reasonable excuse for not paying […]
Two huge successes for the NRB Academy
This week at NR Barton we have received some fantastic news regarding two of our members of staff, Georgia Winters and Jack Dawber-Axon. Both Georgia and Jack have joined NR Barton within the last 12 months and were both at different stages of their ACCA qualifications at the time. Since joining the firm, both Georgia […]
Paying back a false SEISS claim
The Self-Employment Income Support Scheme (SEISS) provided financial support for self-employed individuals who experienced a reduction in profits due to the coronavirus pandemic. However, the scheme was subject to a lot of dishonesty; people were claiming SEISS payments, despite their business not experiencing a reduction in profits. You must tell HMRC if, when you made […]
Coronavirus Job Retention Scheme (CJRS) changes: August 2021
As national restrictions due to coronavirus have been lifted, from 01 August 2021, the CJRS will become less generous, and employers will be asked to contribute more towards the cost of furloughed employees’ wages. To be eligible, you must continue to pay your furloughed employees 80% of their wage for hours not worked. However, from […]
Basis Periods to be abolished in 2022: what does this mean for your business?
“Basis Periods” are a set of tax rules that govern the timing of when income is assessed. Self-employed individuals and partnerships with trading income use basis periods to allocate trading profits and losses to specific tax years. Basis periods are straightforward if your accounts are drawn to 5 April or 31 March every year but […]
