Monthly Archives: April 2023

From time to time, it feels good as a boss to be able to treat your team, whether it’s someone’s birthday or as a get-well gift. But there are rules to be followed to prevent you getting in trouble with the taxman. Trivial benefits are small gifts or perks given to employees that are exempt…

Taxes are one of the certainties of life, according to Benjamin Franklin, and if you are in business it pays to know for which taxes you are liable. Understanding the taxes that your business is required to pay can help you plan and budget accordingly. There are several types of taxes that businesses may be…

As a business owner, it’s important to have a good relationship with your accountant. We can provide valuable insights into your business finances and help you make informed decisions that can improve your bottom line. However, it can be challenging to know what questions to ask, so here’s your starter for 10. How can you…

Households using alternative fuels will be able to access more financial support after the Government expanded its energy bills initiative. Those whose heating comes from heating oil, LPG, biomass and other alternative fuels will receive £200 after a three-month extension was announced. Energy Security Secretary Grant Shapps has increased the period of time that applicants…

The start of the new tax year brings with it the opportunity for businesses to take advantage of the Chancellor’s capital allowances package. A new regime has been introduced to boost investment and spur UK growth, with a £27 billion cut to corporation tax, via Jeremy Hunt’s new full expensing policy, expected to boost investment…

Fears that the State Pension age (SPa) could rise to 70 have been allayed – for now – as the Government announced it plans to stick to the current timetable for increases. A further review into the age at which a state pension can be claimed will be carried out in the next Parliament, but…

The Monetary Policy Committee decided last month to increase the Bank of England (BoE) base rate to 4.25% from 4% and HMRC has followed with an announcement to increase the interest charged on late payment and repayment. When will this happen? As HMRC interest rates are linked to the BoE base rate, these changes will…

1 April 2023 - Due date for Corporation Tax due for the year ended 30 June 2022. 19 April 2023 - PAYE and NIC deductions due for month ended 5 April 2023. (If you pay your tax electronically the due date is 22 April 2023). 19 April 2023 - Filing deadline for the CIS300 monthly…

There is a significant amount of information about companies that can be obtained from Companies House. Companies House is responsible for incorporating and dissolving limited companies, examining and storing company information and making company information available to the public. Much of this information is freely available. This is in line with the government’s commitment to…

The first monthly returns and payments affected by HMRC’s new VAT penalty regime were due by 7 March 2023. The new VAT penalty rules apply to the late submission and / or late payments of VAT returns for VAT return periods beginning on or after 1 January 2023. Under the new regime, there are separate…