Blog

Budget planning opportunities


November 3rd, 2021

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 […]


Tax Diary November/December 2021


November 2nd, 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 […]


Budget 27 October 2021


November 2nd, 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, […]


Company filing dates


November 2nd, 2021

In most cases, the statutory filing date for a Corporation Tax return is twelve months after the end of the relevant accounting period. HMRC considers reasonable excuse to be something that stops a company from meeting a tax obligation despite them having taken reasonable care to meet that obligation. HMRC will consider what a reasonable […]


Self-assessment tax deadline approaching


November 2nd, 2021

There are still two ways to submit your self-assessment tax return. Most taxpayers chose to file electronically, and if we file your tax return, this is the way we would file on your behalf. If you do file electronically, the filing deadline for the 2020-21 tax year is 31 January 2022. But there are still […]


Changes in VAT rates for hospitality traders


November 2nd, 2021

The temporary reduced rate of VAT (5%), introduced to assist qualifying hospitality trades disrupted by COVID lockdown measures, was increased to 12.5% on 1 October 2021. Based on present information, from 31 March 2022, this 12.5% rate will revert to the 20% standard rate. Businesses that manage their own accounts software will need to change […]


Autumn Budget 2021 Summary


October 28th, 2021

As with the Spring Budget 2021, much of the detail for the Autumn Budget had been leaked to the press prior to the official report to parliament, 27th October 2021. But we now have all the details and, as usual, there is much to consider. The following Budget summary is split into two sections: Taxation […]


Time to tighten the belt ?


October 26th, 2021

Later this week (27 October 2021) Rishi Sunak will present his second budget during 2021. It is likely that reduced public expenditure and higher taxation will be features of this budget as the Treasury seeks to limit any further rise in government borrowings. The Chancellor will also have in mind increases in inflation and the […]


New global tax system


October 25th, 2021

To tax multinational companies on business transactions completed in the UK, our government introduced the Digital Services Tax (DST) April 2020. The US response was to threaten to levy tariffs. However, a compromise has been reached that will see the introduction of a global system that will ensure multinationals do pay their fair share of […]


Time to let your hair down.


October 21st, 2021

We are all due a little rest and recuperation. The last eighteen months have been challenging and stressful. If, big if, COVID infection is contained this winter, perhaps we could start to consider celebrating with and family and friends during the Christmas break. And why not fund a “business” related event that will have the […]