All News Archives : Page 13 of 25 : ammu

New points-based penalties for late VAT returns

A new points-based penalty applies to late VAT returns for VAT periods beginning on or after 1 January 2023. The first monthly return to be affected was the one due by 7 March, with the first affected quarterly return due […]

Winding-up petitions on the rise in HMRC squeeze

HMRC’s use of winding-up petitions to actively chase the money it is owed comes at the worst possible time as many companies struggle to cope with inflationary pressures,

Bereavement benefits extended to unmarried couples

The eligibility for some bereavement payments has now been extended to unmarried couples, but there are two major caveats.

Pay attention to tax codes

The easiest way a person can check and correct a tax code is by logging onto their personal tax account using their Government Gateway user ID and password.

HMRC sets its sights on hidden electronic sales

Any software designed to facilitate the under reporting of sales is essentially a tax evasion tool and should always be avoided.

Personal Tax Year Ending – Take These Actions Now

The end of the tax year is just around the corner, so it’s time to get your tax matters in order. Set aside a few moments now to review your finances before the end of the tax year to optimise […]

Profit withdrawal changes for 2023/24

From 1 April 2023, the current 19% rate of corporation tax will only be available for the first £50,000 of profits.

The inflation puzzle of 2022

Annual inflation in 2022 was 10.5%, but not all components rose by double digits. Annual inflation, as measured by the Consumer Prices Index (CPI), was 10.5% in 2022 against 5.4% in 2021. The official CPI calculator, the Office for National […]

New energy bill support scheme for businesses

A new business energy support scheme is set to run from 1 April 2023 to 31 March 2024 but will be less generous than the scheme currently in effect.

Tax warnings for online sellers, influencers and content creators

HMRC’s latest wave of ‘nudge letters’ has been targeted at online sellers, influencers and content creators warning them that they may not have paid enough tax.