Although showing a slight improvement from March, the number of company insolvencies in April of this year was more than double the number from April 2021. This shows just how important it is to get advice sooner rather than later if your company is experiencing problems. … More Company insolvencies on an upward trend
HMRC has decommissioned its interactive PDF that businesses have been using to submit up to 150 P11Ds. For 2021/22, former users will instead have to turn to HMRC’s PAYE online service or use commercial payroll software. … More HMRC withdraws P11D PDF alternative
Making Tax Digital (MTD) will become mandatory for the self-employed and landlords in 2024. Although there is no major news, a recent webinar co-hosted by HMRC has shed more light on the sign-up process, the use of spreadsheets and joining the pilot scheme. … More Making Tax Digital update
Our April 2022 newsletter is out now, exploring changes to NICs, National Living Wage, directors’ loan tax, second home tax loophole closing and much more.
A critical review of how the government taxes child benefits has raised a major question mark over HMRC’s approach to collecting payments. … More Can the child benefit charge be fixed?
Making Tax Digital (MTD) for VAT has been in place for three years, but this first phase excluded voluntarily registered businesses beneath the registration threshold. From 1 April 2022, all VAT-registered businesses must implement MTD regardless of turnover. … More The next step for Making Tax Digital
Around three quarters of those students who started full-time undergraduate degrees in 2020/21 are not expected to fully repay their student loans. However, changes starting with the 2023 student cohort will see many paying more, and over half of new student loans are likely to be repaid in full. … More Student loan rule changes from 2023
Prior to the March Spring Statement, most self-employed individuals were facing increased national insurance contribution (NIC) bills this year. However, those with profits up to and just over £28,000 will now see a fall in the amount they pay compared to last year. What’s more, low earners can benefit from deemed contributions. … More NICs boost for the self-employed
You will find here under our summary of the key contents of the Spring Statement 2022.
The government’s recently launched Help to Grow: Digital scheme has two aspects: impartial advice and guidance about how digital technology can boost a business’s performance, plus a potential discount worth up to £5,000 towards the cost of buying approved software. Announced last March ahead of the 2021 Budget, the scheme aims to combat problems of … More Boost your business with the Help to Grow: Digital scheme
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