Accounting Software: Which one should you use?
Whether you are currently using digital accountancy software or still using more traditional methods (excel spreadsheets or manual records), the accountancy industry is undergoing a digital revolution. For those still using traditional methods, the government’s Making Tax Digital scheme means that adopting accountancy software is inevitable. If you are using accountancy software you should always […]
Plastic Packaging Tax to be introduced within the UK
In aim to reduce plastic waste across the UK, the UK government have released the details of a new Plastic Packaging Tax which will take effect from 1 April 2022. This will encourage the use of recycled rather than new plastic within plastic packaging. This is expected to stimulate increased levels of recycling and collection […]
Firms still owe HMRC billions after VAT holiday
More than one in four businesses that were allowed to defer tax payments during the spring lockdown last year still owe the Treasury billions. A total of 156,500 out of 590,000 businesses that took advantage of Rishi Sunak’s VAT deferral between March and June have failed to make contact with HM Revenue and Customs (HMRC) to pay […]
House prices fall 0.5% in June, should we be concerned?
As the stamp duty holiday is ending, it is interesting to look at the effects which this has had on house prices across the UK. The holiday was introduced on 8 July 2020 after concerns were raised regarding the property market after coming out of the pandemic. This scheme increased the number of people that […]
VAT Deferral: New Payment Scheme
VAT Deferral: New Payment Scheme How can I opt-in to the new payment scheme? How many instalments can I pay my deferred VAT in? I am having difficulty using the online service, what can I do? What if I am still not able to pay my deferred VAT? If you deferred VAT between 20 March […]
Capital Gains Tax: payment for property disposal
Capital Gains Tax (CGT) is a form of taxation which is put on the sale of a non-inventory asset. If you have sold or disposed of a UK residential property (including part interest in one) after April 2020, you may need to report this and pay Capital Gains Tax (CGT) within 30 days of completion. […]
First Homes: guidance and eligibility
The First Homes scheme involves the building of new homes specifically to be sold at a discount. However, these homes are otherwise intended to be of similar specification to full-price homes. These homes will then be put on the market at a discount of at least 30%. For an average new-build property in England, this […]
Rising inflation – what does that mean for UK businesses?
The covid-19 pandemic has affected all aspects of life as we know it. As we are hopefully emerging from the worst of its social impacts, we are now faced with potentially crippling economic effects caused by the proliferating borrowing throughout the pandemic. In this article we will discuss inflation and what this could mean for […]
SEISS: should you change your accounting date to save tax?
The SEISS allowed self-employed individuals and partnerships to receive taxable grants if their business has been adversely affected by the coronavirus pandemic. The first three grants were given in the tax year 2020/2021, although the profits which the SEISS grants substitute for might have been taxed in a later year. This means that even though […]
Forces Help to Buy: help to get on the property ladder
Forces Help to Buy: help to get on the property ladder. This article summarizes the details of the Armed forces help to buy. This is a pilot scheme that was launched in April 2014 and assists regular armed forces personnel to get onto the property ladder. The scheme has now been extended to 31 December […]
