Category: General

If you still receive your VAT repayments from HMRC by cheque, you can receive repayments directly into your bank account Why receive electronic repayments? •           Simple and convenient – paid straight into your bank account giving you quicker access to your money •           Safer and secure – electronic repayments can’t be lost, stolen or delayed… Continue reading VAT Repayments Direct To Your Bank

The P11D form must be filed with HMRC every year on the 6th July. Any tax due must be paid to HMRC by the 22nd July each year If you are an employer completing your own P11D HMRC are providing a live webinar covering which employees need a P11D, taxable expenses and benefits, exemptions and National Insurance,… Continue reading Completing Your P11D

Employees may be able to claim tax relief for additional household costs if they have to work at home on a regular basis, either for all or part of the week. This includes having been told to work from home because of coronavirus. Additional costs include things like heating, metered water bills or business calls, that… Continue reading Tax Relief for Employees Working From Home

HMRC have some guidance available, via live webinars to help you understand some basic principles of what business expenses you can claim Business expenses for the self-employed: Find out what business expenses are, what is and isn’t allowable and how using simplified expenses can make life easier. Available Friday 14th May 1:45pm or Tuesday 18th… Continue reading Self-employed Business Expenses You Can Claim

About compliance checks HMRC carry out compliance checks to: make sure you’re paying the right amount of tax at the right time make sure you’re getting the right allowances and tax reliefs discourage tax evasion make sure the tax system is operating fairly Something may trigger a check. However, HMRC has the right to check… Continue reading HMRC Compliance Checks

The hourly rate for the minimum wage depends on your age and whether you’re an apprentice. You must be at least: school leaving age to get the National Minimum Wage aged 25 to get the National Living Wage – the minimum wage will still apply for workers aged 24 and under From 1 April 2021 the… Continue reading National Minimum Wage and National Living Wage Rates

A new 130% first-year capital allowance for qualifying plant and machinery assets; and a 50% first-year allowance for qualifying special rate assets. From 1 April 2021 until 31 March 2023, companies investing in qualifying new plant and machinery assets will be able to claim: a 130% super-deduction capital allowance on qualifying plant and machinery investments… Continue reading Super Deduction Capital Allowance

Companies House have launched their new bite-sized webinar series aimed at helping company director’s better understand their responsibilities Sign up now for the first webinar on 17th March to learn more about director responsibilities, how to register for an online filing account and the digital tools and services that are available to help you. Click… Continue reading Companies House Launch Webinar Series – Director’s Responsibilities

Chancellor Rushi Sunak announced his Budget in the House of Commons on 3rd March 2021. These are the announcements for his plans relating to taxation: Maintaining the income tax Personal Allowance and higher rate threshold from April 2022 until April 2026 which means that the personal allowance will be frozen at £12,570 and the high rate… Continue reading Spring Budget 2021: Taxation