The deadline to submit your tax return online is 31st January 2022. Whilst this may seem like you have plenty of time, everyone is always so shocked at how quickly it comes around. As accountants, we always try to encourage our clients to start preparing for their tax return as soon as possible, and to…
Category: Tax
Autumn Budget Summary 2021
The budget was announced today, and there were a few announcements, but generally speaking for the average working person, there won’t be any changes. The biggest announcement was regarding National Minimum/Living Wage. This will be increased next year (April 2022) to £9.50 from it’s current rate of £8.91 for 23 year olds and over.…
Why is bookkeeping going to be so important for Making Tax Digital?
With the new Making Tax Digital legislation coming into force in the next couple of years, making sure your bookkeeping is in good order is going to be essential in helping you and your business prepare for the changes. We know a lot of our clients are worried about the changes that are going…
What you need to know about the National Insurance Increase and the new Health and Social Care Levy
This week has seen the government announce the new Health and Social Care levy. As the impact of Covid starts to hit, this is potentially the first of many tax changes that we can expect over the next few years. But what is the new Health and Social Care levy and how will it affect…
What are Basis Periods?
There are going to be quite a lot of changes to the way that businesses record and report their accounts over the next couple of years with the rollout of the Making Tax Digital scheme. One of these changes is the removal of basis periods from the tax year 2022 – 2023. What…