HMRC is offering taxpayers named in the leaked Pandora Papers a chance to correct their tax affairs. The October 2021 leak involved almost 12 million documents revealing hidden wealth and tax avoidance. The papers revealed that many taxpayers had used […]
Category: All News
National insurance gap extension
The normal time limit for a person to fill gaps in their national insurance (NI) record is six years, but transitional arrangements allow gaps to be filled back to 2006/07. The deadline for making such contributions was recently extended to […]
Important HMRC Update: R&D Tax Credit Claims
Does your company submit or intend to submit claims for R&D tax credits? HMRC has recently announced important updates regarding the procedure for filing an R&D tax credits claim. We have summarised the changes that you need to be aware […]
More estates paying IHT
The combination of a frozen inheritance tax (IHT) nil rate band and considerably higher property values has pushed more estates into the IHT net.
Self-assessment threshold rises from 2023/24
Fulfilling a self-assessment tax return holds immense importance for various reasons, although PAYE taxpayers are generally exempt from this requirement.
Energy Price Cap Drops to £2,074
From 1 July, the energy price cap set by energy regulator, Ofgem, will fall from £3,280 to £2,074.
Selling power back to the grid
With continuing high electricity prices, now could be a very good time to install solar panels at your property.
More action to counter fraud
The government has announced a new initiative to counter fraudulent activity, particularly in the financial sector.
Navigating the Cost of Living Crisis
Supporting Businesses and Your Employees with Practical Solutions The cost-of-living crisis is affecting everyone: businesses and their employees. By taking proactive steps during these challenging times, businesses can help ease the impact of the crisis and emerge stronger in the […]
Attention self-employed: get ready for a longer tax year.
The government has changed the taxation system for self-employed individuals and partners in partnerships, requiring them to pay tax on their trading profits earned during the tax year instead of the accounting year. The tax year 2023/24 will act as […]
Exciting News: Ammu Accounting Continues to Grow with MCC Accountants Joining the Team
We are thrilled to share some exciting news with all our clients, partners, and friends. As of 1 June Ammu Accounting has been joined by the highly respected MCC Accountants, a Giffnock-based practice known for their exceptional service and trusted […]
Increasing company transparency
At present small companies have to file a balance sheet each year but adding a profit and loss account and directors’ report is optional. Most choose not to do so.
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