Research & Development Tax Credit
HMRC have started writing letters to some companies that have been making claims for Research and Development (R&D) relief suggesting that they may be fraudulent. This is the result of the system being abused by some spurious claims, but the tone of the letter may alarm some recipients. The HMRC Fraud Investigations Services unit has…
Read More
Trainee ships – Would Your Business Benefit
The talent shortage continues to place a burden on the economy. As companies struggle to find the talent they need, now is the time to invest in new and more strategic approaches to developing an early talent pipeline. One way of bringing in new talent is through traineeships. A traineeship is a work-based skills development…
Read More
Making Tax Digital
Making Tax Digital for VAT – New penalties for non-compliance HMRC have issued guidance for VAT-registered business and their agents on how to avoid penalties for non-compliance with the Making Tax Digital for VAT (MTD) rules. In particular, there is a new £400 per return penalty if you file a return but do not use…
Read More
Tax Efficient Savings
HMRC have recently updated their guidance for companies looking to attract investors to buy shares in their company. If structured correctly, and if the company qualifies under the Enterprise Investment Scheme (EIS) or the Seed EIS rules, the investors can potentially take advantage of a number of generous tax breaks. Under the EIS, the company…
Read More
Cash flow is so Important
Do you agree? Most of our other clients do. In this economy CASH IS KING and managing your cash flow is more important than ever. If you are concerned about the future of the economy, then take some time to reflect on where you are and what could happen in the next few months. It…
Read More
High Income Benefit Charge Catching You Out?
Mistakes made when claiming higher rate child benefit are most frequently the result of poor communication from HMRC and it is more difficult for those with complex, fluctuating earnings The high income child benefit charge (HICBC) raised £416m in 2019-20 but it is a hard tax charge to administer as many of the families affected…
Read More
Business resilience in these tough times
Millions of households are facing a rise in energy costs, alongside increases in the cost of council tax, water bills and other utilities and there is a warning of fresh energy bill price rises in October. Energy prices have been affected by the Ukraine war and pressure on suppliers. There are continuing delays and shortages…
Read More
Plan B
Welcome to our round up of the latest business news for our clients. Please contact us if you want to talk about how these updates affect your business. We are here to support you!Prime Minister confirms move to Plan B in EnglandThe Prime Minister confirmed last week that England will move to Plan B following…
Read More
Omicron variant – New safety measures announced
It is expected that Parliament will endorse the weekend Government announcements on new safety measures for the Omicron variant and from Tuesday 30 November face masks will be compulsory in shops and on public transport in England, and UK arrivals are expected to have to take PCR tests.The measures will be reviewed in three weeks.…
Read More
UK Inflation Prices Increase
BUSINESS NEWS ENGLANDWelcome to our round up of the latest business news for our clients. Please contact us if you want to talk about how these updates affect your business. We are here to support you!Inflation: UK prices increase at fastest rate for almost ten yearsThe cost of living has surged at its fastest pace…
Read More