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What’s happening?

Here you can keep up to date with our latest news, as well as the latest goings-on in the world of accounting.

Many families will be organising UK holidays this year and so passports may be left in draws for 2021. But when the market for overseas holidays opens up, better check that your passports still meet that important “6 months before they expire&... Read More

Pension schemes newsletter

Posted by: Amy Patterson

A new pension schemes newsletter has been published by HMRC. The latest edition of the newsletter includes details of the following topics:Spring Budget 2021. The government announced that there would be no changes to the annual allowance limit that... Read More

Support for business in the Budget

Posted by: Amy Patterson

The following is a summary of the support the Budget offered businesses last week, promoted recently by the Department for Business. £5 billion for new Restart Grants – a one off cash grant of up to £18,000 for hospitality, accommodation, leisure, pe... Read More

One of the measures announced as part of the March 2021 Budget was the introduction of a new mortgage guarantee scheme to help home buyers purchase a property. The new scheme is designed for prospective home buyers who only have a small dep... Read More

A new temporary extension to the eligible carry back period for trading losses has been announced. This will allow trading losses to be carried back for three years (rather than one). The extension to the relief applies to both incorporated and uninc... Read More

It is not long until the current 2020-21 tax year comes to an end and there are a number of year end payroll chores that must be completed. This includes sending a final PAYE submission for the tax year. The last Full Payment Submission (FPS) needs t... Read More

Businesses that took the option to defer the payment of their VAT liabilities between 20 March 2020 and 30 June 2020 need to decide what course of action they will take.  There are two options available for repaying this VAT. The first option i... Read More

The rules for individuals providing services to the public sector via an intermediary such as a personal service company (PSC) changed from April 2017. The new rules shifted the responsibility for deciding whether the intermediaries’ legislatio... Read More

The 'badges of trade' tests whilst not conclusive are used by HMRC to help determine whether an activity is a proper economic trade / business activity or merely a money-making by-product of a hobby. They are useful when careful conside... Read More

One of the measures announced as part of the March 2021 Budget was the introduction of a new mortgage guarantee scheme to help home buyers purchase a property. The new scheme is designed for prospective home buyers who only have a small dep... Read More

One of the Chancellors key announcements in the Budget last week was to replace the government guaranteed Bounce Back and Business Interruption loans – due to end for new applications from 31 March 2021 - with a new Recovery Loan Scheme (RLS).... Read More

In our previous newsfeeds we have described how you can calculate the level of turnover you need to create in order to meet all your costs whether they be fixed costs (rent, rates etc.,) or variable costs (goods you need to buy to convert into goods... Read More