HM Revenue & Customs (HMRC) has warned that debt collection will resume as the UK emerges from the pandemic and it will be contacting taxpayers who have fallen behind with their taxes. HMRC says it will take an understanding and supportive approach to dealing with those who have tax debts or are concerned about their […]
With predictions that the UK economy is set to grow at its fastest pace in 80 years and could recover to its pre-pandemic size by the end of this year, SME owners are feeling more optimistic and are keen to invest in growth. However, they are also frustrated by the mix of financial options open […]
Where grants claimed under the self-employment income support scheme (SEISS) do not correspond with records held by HM Revenue & Customs (HMRC), it will auto-correct 2020-21 tax returns and issue a new SA302 calculation to both taxpayer and acting agent. Corrections may be necessitated if: The grant amount was omitted; The amount received appears in […]
As many employees began working from home during the height of the coronavirus pandemic, they used less paid childcare, as many before school clubs and nurseries were closed. Therefore, employees who use the childcare voucher scheme will most likely have unspent vouchers in their related accounts if they did not reduce their contributions – which […]
Cloud accounting is simple, fast, and efficient. So why are so many businesses refusing to make the switch? In this blog, we’re going to explore just five ways cloud accounting could boost your business and help you leave competitors behind. Real time data Why spend hours a day transcribing data from notepads, receipts, and bank […]
Businesses who are required to use Making Tax Digital (MTD) for VAT but not registered could face fines of up to £400, it has been warned.
If you manage a business and record its expenses and revenue, you need to find a recording system that suits you. While cash basis accounting has its benefits, accrual accounting can be a more powerful tool for operating your business. So what is the difference?
Small and medium-sized firms could get a discount of up to 50 per cent on the costs of business software under the new Help to Grow scheme, it has been revealed.
Almost all workers should now be enrolled into a workplace pension under the Automatic Enrolment scheme. But as the employer, your legal duties do not end there.