UK Businesses big and small have demonstrated that they won’t let the uncertainty of Brexit phase them too much, and this is evident from the recent boost in the UK Economy which was reported by The Office For National Statistics (ONS). The statistics authority has revealed that despite the uncertainty of Brexit and the worry …
Continue reading "UK Businesses Boost Economy By Stockpiling"
Although the government initiative Making Tax Digital is now live, it is estimated that around 1 million businesses still need to sign up. Approximately only 70,000 businesses have now registered, which is 4% of all UK businesses. A Freedom of Information Request submitted to HMRC by cashflow forecasting software firm Float has revealed that approximately …
Continue reading "Making Tax Digital: 1 Million Businesses Still Left To Comply"
If the UK ends up leaving the EU without an agreement on 12 April 2019, then UK businesses will be required to apply the same procedures to EU trade that apply when trading with the rest of the world. In this article, we will be providing you with tips on how to prepare your business …
According to HMRC reducing corporation tax rates will subsequently cost the public purse £6.2 billion per year despite the government’s argument that the giveaway will amplify revenues. The UK currently has one of the lowest tax rates worldwide at only 19 per cent and is expected to further drop by 2 per cent next year …
Continue reading "Reduction of corporation tax costs Government £6.2bn per year"
April can be a daunting time for many small-to-medium businesses, with the end of the current tax year and the start of a new one. New tax rates and thresholds have to be taken into account, and it can be difficult for businesses to prepare for all of these changes on top of making sure …
Continue reading "Tax Year 2019-2020: How To Prepare Your Business"
As discussed in our previous article, the EU has now granted the UK until the 12th April to seek a further extension or leave the EU without a deal. If your business trades with EU countries and we leave without a deal, you will need to follow the same processes that apply when trading with …
On 14th March there was a majority vote to delay Brexit, and delay leaving the EU on the 29th March. The EU has now granted the UK 3 weeks to seek a further extension or leave without a deal on 12th April, meaning that there is a limited time for businesses to prepare in the …
Continue reading "No-Deal Brexit: How your business needs to prepare if you trade with the EU"
Yesterday, Chancellor Philip Hammond delivered his Spring Statement – here are the main points given in the Statement regarding the economy and how these changes could potentially affect taxpayers. Key Points Economic growth UK gross domestic product (GDP) is set to grow by 1.2% in 2019 Then 1.4% in 2020, and 1.6% in the following …
Continue reading "Spring Statement 2019 – What Are The Key Points, And Will Your Taxes Be Affected?"
Every year, tens of thousands of taxpayers receive e-mails on tax refunds which appear to be from HMRC; Although at first glance they may look like the real deal, don’t fall into this trap – they are actually phishing scams sent from unofficial sources and they are designed to deceive the taxpayer into giving out …
Continue reading "Identify HMRC-related Phishing Scams in 7 Steps"
We understand that it can be tedious and sometimes challenging for a business to maintain its bookkeeping, pay taxes, and keep up to date with VAT regulations and on top of that run a successful business. So, here we've included a step by step guide on how to pay your business’s Corporate Tax. What is …
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