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We regularly write articles to keep you up to date with changes that affect your growing business.

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Blog

Act now to continue receiving tax credits, says HMRC

Workers and self-employed business owners who claim tax credits, Child Benefit or Guardian’s Allowance have just one month left to switch their Post Office card account, it has been warned. HM Revenue & Customs (HMRC) said it will stop making payments to Post Office card accounts after 05 April 2022. It comes after the tax

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Blog

Almost one million taxpayers handed late submission penalty after missing Self Assessment deadline

Nearly one million taxpayers have been fined after failing to submit their tax return on or before the 28 February Self Assessment deadline, it has been revealed. The report comes after the automatic £100 late submission penalty was waived for one month in response to the coronavirus pandemic. According to HM Revenue & Customs (HMRC),

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Blog

How would an Online Sales Tax affect your business?

The UK Government is set to assess whether to introduce an Online Sales Tax (OST) as a solution to the tax imbalance in the retail sector. Why is there a tax imbalance? Throughout the pandemic, the retail sector was heavily impacted by lockdowns and lack of confidence reducing footfall. Consequently, consumers opted to shop online

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Blog

Research shows rent collection exceeds pre-pandemic levels in commercial sector

The UK industrial and commercial sector has bounced back strongly from the pandemic, according to new research. Rent collection in the sector has exceeded pre-COVID-19 levels for the first time since the pandemic began, according to commercial property management platform Re-Leased. Figures published for the December rent quarter analyse rent collection for the 42 days

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Blog

HMRC to close helplines one day a week to clear backlog

VAT and Corporation Tax helplines at HM Revenue & Customs (HMRC) will close for one day a week to help clear the backlog built up during the COVID-19 pandemic. HMRC first introduced a test exercise in December and says that success has prompted the move to close tax helplines on Fridays in February and March,

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Blog

What is ‘greenwashing’ and how can you spot it?

With climate change on most people’s agenda, and an increasing pressure on individuals to operate in an environmentally friendly way, companies may use this to their advantage to secure investment. ‘Greenwashing’ is when companies market themselves as being environmentally friendly, but do not actually act on this. As being eco-conscious is a growing trend, with

UK cyber security industry breaks growth records despite pandemic
Blog

UK cyber security industry breaks growth records despite pandemic

The UK cyber security industry grew by a record-breaking 14 per cent throughout the coronavirus pandemic, a major study has revealed. The research, published by the Department for Digital, Culture, Media & Sport (DCMS), shows that revenue, investment, and employment in the sector all rose in the last 12 months. According to the Annual Cyber

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Blog

Making Tax Digital for VAT – What you need to know

The next few years will see several significant changes to taxation, including, more immediately, the further expansion of Making Tax Digital (MTD) for VAT in April this year. It is one of the key areas of the HM Revenue & Customs (HMRC) strategy to make its revenue collecting system the most efficient in the world.

Five stacks of coins of varying heights, one with a paper cutout of a car on top, one a house, one two parents and a child, one a house with a family inside, and one a wedding cake topper
Blog

Marriage Allowance: Can you claim up to £1,220 in tax relief this Valentine’s Day?

HM Revenue & Customs (HMRC) is calling on spouses and civil partners to sign up for the Marriage Allowance this Valentine’s Day. The latest research suggests that thousands of eligible couples are not claiming the tax relief which could be worth up to £252 a year. Here’s how it works. What is the Marriage Allowance?

Cafe owner making calculations with receipts, tablet and calculator at table in cafe
Blog

How accessible is the Help to Grow: Management scheme?

The Government launched the Help to Grow: Management scheme in August 2021 with the aim to provide the leaders of small and medium sized businesses (SMEs) with training to encourage growth, boost productivity and secure investment opportunities. More recently, the Government launched a second Help to Grow scheme (Help to Grow: Digital). What is the

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Blog

SMEs have mixed views on their prospects for 2022

UK small businesses (SMEs) are both concerned and optimistic at the same time about their prospects in the next 12 months. According to a monthly SME Recovery Tracker from ACCA (the Association of Chartered Certified Accountants) and the Corporate Finance Network (CFN), many are ‘breaking point’, and in danger of running out of cash in the next 12 months.

Calculator on desk on top of documents next to pencil, smartphone and cup of coffee
Blog

Hidden charges alert as 2.3 million miss Self-Assessment deadline

To many taxpayers, it must seem like the ongoing effects of the pandemic are an endless nightmare of tax deadlines, after the endless nightmare of lockdowns. So when the deadline for Self-Assessment payment was extended by a month, to 28 February, it was a huge relief for the self-employed, not to mention their hard-pressed accountants

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