We regularly write articles to keep you up to date with changes that affect your growing business.
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Annual investment in companies with goals to tackle climate change has quadrupled since 2018. In December 2021, annual investment in sustainability-focused firms hit an impressive £39.8 million, up from £8.3 million three years prior- reveals the crowdfunding platform Crowdcube. The number of companies, with climate change related goals, hoping to raise funds on the platform
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Late filing and late payment penalties will be waived for one month to give taxpayers more time to prepare their 2020 to 2021 Self Assessment tax return, it has been announced. It means small business owners, directors, and landlords have until 28 February 2022 to submit their return without incurring penalties. But interest – which
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To tackle the cost-of-living squeeze, which could see households losing £1,200 a year, the Government have discussed the idea of offering targeted financial support for fuel bills, like that of the Warm Homes Discount. The Warm Homes Discount scheme currently offers those receiving benefits to apply for a one-off £140 payment. Not only is there
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According to HM Revenue & Customs (HMRC), over 31,000 Self Assessment tax returns were submitted between Christmas Eve and Boxing Day. The Christmas period is known for good food and festive cheer. However, in 2021, many people used the break to file their tax returns. On Christmas Eve, 19,802 returns were made, with a further
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The Government has launched a crackdown on bosses who dissolve their companies to avoid paying their liabilities, with rogue directors facing disqualification for up to 15 years or even prosecution. The Insolvency Service has been granted new powers, on behalf of the Business Secretary, to investigate and disqualify company directors who abuse the company dissolution
COVID-19
Following the impact on businesses in England of the current ‘Plan B’ covid measures and the impact of Omicron on trade in the hospitality sector in particular, the Government has announced a new support package. The package comprises three elements: Dedicated support for the hospitality and leisure sectors in the form of one-off grants worth
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The Scottish Government has proposed new rates of income tax for 2022-23, which could affect your future tax bill. New proposed tax bands Personal allowance (tax-free) = £12,570 Starter rate (19 per cent): over £12,570 - £14,732 Basic rate (20 per cent): over £14,732- £25,688 Intermediate rate (21 per cent): over £25,688 - £43,662 Higher
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As of 17 December 2021, there has been a temporary shift to the self-certification period regarding Statutory Sick Pay (SSP). The change is another measure taken in response to the emergence of Omicron. It aims to provide temporary relief for GPs, to concentrate their energy on delivering the COVID-19 booster programme and emergency care. What
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Certain goods and services will become cheaper to import from around the world after 01 January 2022, it has been announced. It comes after the Government committed to remove VI-1 certificates on all wine imported to Great Britain from next year – saving traders around £130 million annually. VI-1 certificates are currently used by UK
Latest News
Every year many of us decide to set a New Year’s resolution. Perhaps it is losing weight, going vegetarian or putting extra money away in your savings. Of course, inevitably, life can get in the way and it is easy to lose track of the promises you set yourself. However, if there is one goal,
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Campaigners are angry over the fact that more and more people will be drawn into paying Inheritance Tax (IHT), after a big rise in receipts. They are angry that Chancellor Rishi Sunak has frozen the IHT nil rate band and residence nil rate band at £325,000 and £175,000, respectively, until 2026, while the value of
Latest News
For busy small businesses, a PAYE Settlement Agreement (PSA) offers a simpler alternative to pay your employees. It allows you to make one annual payment to cover all the tax and National Insurance due on minor, irregular or impracticable expenses or benefits for your workforce. According to HM Revenue & Customs (HMRC), if you get a PSA for these items, you
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