As from 1 April 2023, corporation tax is increasing from its current rate of 19%. As from 1 April 2023, companies with profits more than £50,000 will see their tax liabilities increase. The government announced that companies with profits of £50,000 ...
Personal Accountants in Carlisle, Cumbria
Tax Changes you need to know about in 2022
With inflation increasing, energy costs rising, there was some pressure on the government to delay the planned tax and National Insurance rises (which will be known as the Health & Social Care Levy). However, they have confirmed the planned rises...
Client newsletter – December 2021
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Tax Briefing Autumn Budget 2021
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Autumn Budget 2021
After getting his knuckles wrapped for the various pre-Budget leaks, The Chancellor delivered his budget speech, with a wide range of positive and favourable announcements for individuals and businesses. The Chancellor also announced that he wants to...
Tax Briefing September 2021
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Holly’s appointment makes digital move less taxing
Holly Andrews has joined us as Cloud Accounting Manager with the Government push to ensure all taxes are submitted digitally gathering pace. Making Tax Digital has already come into effect for some, and from next April it will be mandatory for all VA...
Tax Briefing June 2021
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Tax Briefing - March 2021
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Save your SEISS grant – 3 days to deadline!
HMRC sent this email to a number of established self-employed traders on 26 February 2021, asking them to prove that they are still trading, before they can claim the next two SEISS grants. Taxpayers must respond to HMRC's by 22 March, otherwise they...
TAX BRIEFING - BUDGET 2021
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Budget 2021
The Chancellor delivered his budget speech, outlining the cost of the support that had already been provided due to the Covid-19 pandemic, the support that will continue, how they plan to start repaying the unprecedented borrowing and how they plan t...
Budget 2021 – Key Points
The Chancellor today delivered his latest budget speech, outlining a three-part plan: 1.To continue to support those affected by Covid-19. 2.Begin fixing the public finances as a result of the unprecedented level of borrowing due to the Covi-19 suppo...
Furlough Claims………Be Prepared!
The government have estimated that around 10% of furlough claims are potentially incorrect (and in some cases, fraudulent). As a result, they have decided to invest a substantial amount of money to see how much of these incorrect claims can be reclai...
VAT Domestic Reverse Charge (DRC) – What is it?
From 1 March 2021, if services and supplies fall within the DRC, subcontractors will not charge VAT to other building and construction industry businesses. Instead, contractors will account for the VAT due directly to HMRC on the VAT return. Example:...
