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MTD Coming Soon For Income Tax

VAT registered businesses making taxable supplies above the £85,000 registration threshold have been grappling with Making Tax Digital (MTD) since April 2019. The next roll-out will be the introduction of MTD for income tax which was originally scheduled to start in April 2023. However, delays to MTD means it will be starting on 6 April […]

Read more August 13th, 2021

Off-Payroll Working – Will HMRC Accept Result?

Since 6 April 2021 large and medium-sized organisations have had to determine whether or not a worker supplying their services via their own personal service company would be treated as an employee if directly engaged. HMRC suggest organisations use their Check Employment Status for Tax (CEST) tool on their website to check the worker’s status, […]

Read more August 10th, 2021

Guidance On SEISS Turnover Test Issued By HMRC

The fifth (and final) Self-Employed Income Support Scheme (SEISS) grant has been available for the self-employed to claim since the end of July. HMRC has contacted those traders that may be eligible with their claim date. The eligibility criteria remain broadly the same as the fourth grant. Self-employed profits in 2019/20 must not exceed £50,000 […]

Read more August 9th, 2021

Company Loss Relief Can Be Claimed Early

Where a company makes a trading loss of no more than £200,000 in an accounting period it is now possible to claim relief for that loss even though the corporation tax return CT600 has not been submitted. This will enable the company to carry back the loss to earlier years and obtain a repayment of […]

Read more August 2nd, 2021

Can Crowdfunding Help Your Business?

What is crowdfunding and how does it actually work? Crowdfunding is a way of raising money for a business venture, personal endeavour, or charitable cause, where a large number of people invest in or donate money to the cause. Crowdfunding is becoming more popular with startup and early-stage businesses which can often struggle to secure […]

Read more July 19th, 2021

Closing The Deal

Closing a deal is arguably the most important part of the sales cycle. Your company might have a database full of potential leads, your products and services could be the best in your market sector but if you can’t close a sales deal, then your business development and marketing efforts will be wasted. The key […]

Read more July 19th, 2021

Protecting Your Business Against Fraud

Instances of fraud have increased during the pandemic – what can you do to help mitigate the risks? Throughout the Covid-19 pandemic, businesses have experienced an increase in the level of fraudulent activity. Many companies have moved their business activities online and with more employees now working from home, there are increased opportunities for fraudsters […]

Read more July 16th, 2021

Developing The Next Generation Of Business Leaders

Businesses need to invest in nurturing the next generation of talent. Regardless of the industry that you work in, how you and your management team nurture the next generation of talent in the first decade of their careers can have a huge impact on their prospects for the future. Given that the world of business […]

Read more July 16th, 2021

HMRC Warning Not To Use Unfunded Pension Arrangements

HMRC are currently attacking a marketed tax avoidance scheme using unfunded pension arrangements to avoid Corporation Tax, Income Tax and National Insurance contributions. HMRC strongly believes these arrangements do not work and will seek to challenge anyone promoting or using these arrangements and make sure the correct tax is paid. Users of these arrangements may […]

Read more July 13th, 2021

Pension Contribution Is Tax Efficient For Both Employee And Employer

Pension contributions to approved pension funds on behalf of employees and directors continue to be a tax-free benefit provided the annual input limit is not breached. The contributions are also deductible for the employer provided incurred wholly and exclusively for the purposes of the trade and paid before the end of the accounting period of […]

Read more July 13th, 2021

Tax Free Childcare Account Subsidises Summer Camps

If you have children under 12 who attend a nursery, after school club, playscheme, childminder or you are considering sending them to a summer camp you should think about setting up a tax-free childcare account. The government adds 25% to the amounts that you save in the account up to £2,000 for each child so […]

Read more July 12th, 2021

Fifth Self-Employed Income Support Grant To Be Paid In July

The fifth (and final) Self-Employed Income Support Scheme (SEISS) grant will be available for the self-employed to claim towards the end of July. The eligibility criteria remain broadly the same as the fourth grant. Self-employed profits in 2019/20 must not exceed £50,000 and must be more than 50% of your total income. If that test […]

Read more July 12th, 2021

Furlough Grant Reduces To 70% For July

For the month of‌‌ July, the CJRS Furlough grant support from the government via HMRC reduces to 70% of the employee’s usual pay for hours not worked. This is despite the fact that “Freedom Day” in England has been delayed four weeks to 19 July 2021, and now called “Terminus Day”. The government support to […]

Read more July 12th, 2021

Does Social Media Marketing Actually Work?

Social media marketing is incredibly popular but how do you ensure it actually works for your business? Time is a finite resource. Social media can be a hugely time-consuming undertaking and if it isn’t employed effectively it can be a waste of time. In order to determine whether your business should invest time, effort and […]

Read more June 22nd, 2021

How To Pivot Your Business Strategy

If your business goes through a tough period, it may be time to pivot your strategy. Necessity is the mother of all invention. Many firms have had to pivot their business strategy due to the current market conditions. In order to pivot your strategy, you will need to start by doing your research, reassessing your […]

Read more June 22nd, 2021