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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.

1 January 2018 - Due date for Corporation Tax due for the year ended 31 March 2017.19 January 2018 - PAYE and NIC deductions due for month ended 5 January 2018. (If you pay your tax electronically the due date is 22 January 2018)19 January 2018 - Fil... Read More

In December, we welcomed two fantastic new team members. Bianca joined us as Client Accounts Manager on 1st December. She is ACCA qualified and currently working towards her Masters of Science (MSc) in Professional Accountancy. Ben joined us as Cli... Read More

From January 2018, the Disclosure and Barring Service (DBS) is making some important changes to the basic disclosure process relating to criminal record checks. From next month, individuals who need to obtain a basic disclosure check for a job in Eng... Read More

Following its annual review of the pension automatic enrolment earnings trigger and qualifying earnings band, the government has decided that the earnings trigger will again remain at £10,000 for 2018/19. The earnings trigger determines at what point... Read More

Under new rules that came into force last year, HMRC has the power to force overseas retailers to appoint a UK-based VAT representative or to provide a financial guarantee. These rules currently apply to overseas retailers that supply goods already i... Read More

The tax and NIC advantages of certain benefits provided as part of a salary sacrifice arrangement were removed from 6 April 2017. The new rules effectively remove the Income Tax and employer NIC advantages of certain benefits provided as part of sala... Read More

For high earning taxpayers, their Income Tax personal allowance is gradually reduced by £1 for every £2 of adjusted net income over £100,000 irrespective of age. This creates an effective marginal rate of tax of around 60% for tax payers as the... Read More

Companies often have to contend with having two different company accounting periods. This is because there are different rules for Companies House filings and submissions to HMRC, for corporation tax purposes.The accounting periods can be the same b... Read More

The cash basis scheme helps sole traders and other unincorporated businesses benefit from a simpler way of managing their financial affairs. The scheme was extended to landlords from April this year with many expected to benefit from the savings in a... Read More

There are three main VAT schemes available to small businesses:The flat rate scheme The annual accounting scheme The cash accounting schemeThe Flat Rate SchemeThe purpose of this VAT scheme is to simplify the way a business accounts for VAT and so re... Read More

The furnished holiday let (FHL) rules allow holiday lettings of properties that meet certain conditions to be treated as a trade for some specific tax purposes. The FHL rules currently apply to individuals, partnerships, trustees and companies who le... Read More

There are lots of changes occurring in the banking world. Perhaps most significant is the evolution of ‘Fintech’ businesses. Finally the banks are being disrupted by new businesses using technology to make it easier to deliver banking and finance ser... Read More