If you are buying Christmas gifts online this year, take care that you are not presented with unexpected VAT, excise duty or customs duty charges before you can take possession of your purchases. HMRC is urging shoppers to consider certain custom’s issues before they start browsing to buy gifts online. Otherwise, they may be hit…Read more
Beware tax scams
HMRC have issued a press release that sets out the scale of criminal activity, convincing taxpayers to part with bank or personal details under threat of arrest or court action. The scale of these self-assessment scams is staggering, apparently over 800,000 tax-related scams were reported to HMRC is the past year. Why is this activity…Read more
Business exit planning
Unless you are committed to dying with your boots on, there will come a day when you desire to exit from your business and retire or try something different. The way that you organise your business, and in particular, the way you organise your finances, will have an impact on the value (£’s) you can…Read more
New to import and export red tape?
If you are importing goods into the UK for the first time you may be advised to seek the assistance of a qualified customs agent. The process of creating and filing the correct documentation, such that the goods can pass through border controls with no hold-ups, and any duties or import VAT are paid, is…Read more
What are ULEVs?
ULEV expands to Ultra Low Emission Vehicles. It is an acronym that we will see on a more frequent basis as climate issues climb in importance. Most families have cars, some use commercial vehicles. The majority are presently fuelled by petrol or diesel. As manufacturers commit investment to the development of carbon-free transport options, primarily…Read more
Chips are down
Mention the words chips to most people and fried potatoes would come to mind. Suggesting that there is a growing shortage of chips would no doubt generate a stampede to the local supermarkets. This sudden rise in demand would double up the pressure on farmers to increase supply and within a short time the…Read more
Tired of slow internet connectivity?
In a recent press release the government confirmed that more than 500,000 rural homes in the UK are to receive access to better broadband plans. They said: • 570,000 more rural premises in line for best broadband available via £5 billion Project Gigabit • Includes Cheshire, Devon, Dorset, Somerset, Essex, Herefordshire, Gloucestershire, Lincolnshire, East…Read more
Budget planning opportunities
It was difficult to find any changes proposed in the budget last week that gave rise to great optimism or that swept away the nagging feeling that we are not out of the woods just yet. We have summarised below some of the issues that will affect actions that we should perhaps consider between now…Read more
Tax Diary November/December 2021
1 November 2021 - Due date for Corporation Tax due for the year ended 31 January 2021. 19 November 2021 - PAYE and NIC deductions due for month ended 5 November 2021. (If you pay your tax electronically the due date is 22 November 2021.) 19 November 2021 - Filing deadline for the CIS300 monthly…Read more
Budget 27 October 2021
We now know the Chancellor’s preferred strategy for plugging any hole in the UK’s finances is by tweaking taxation and using the proceeds to pay-back government borrowings. Various government departments will also need to tighten their departmental belts to reduce government expenditure. When we’ve had time to consider the effects of the announced budget changes,…Read more