News

Post-Brexit customs rules eased to allow aid to flow to Ukraine
18 March 2022

The Government has relaxed customs rules for goods heading to Ukraine after aid donations to the embattled country were held up due to Brexit confusion. The rules have been eased after post-Brexit bureaucracy left lorries with supplies meant for Ukraine stuck at the border in Dover for days.
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Are you making the most of super-deduction tax relief?
17 March 2022

Businesses across the UK are already benefitting from the temporary tax relief offered by the super-deduction but many more could still be missing out on this vital support. The super-deduction scheme was introduced on 1 April 2021 and will run until 31 March 2023. It allows firms investing in qualifying plant...
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Retain key staff with salary sacrifice schemes
17 March 2022

While the national job vacancy boom is good news for job seekers, it could be a nightmare for businesses keen on retaining high-quality staff. While a pay rise is always welcome it may not always be the most tax or National Insurance efficient approach when compared with other benefits, including salary sacrifice...
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Cash flow statements – How to avoid errors that damage your business
17 March 2022

A cash flow statement provides data about all cash inflows a company receives from its operations and investments. It tells you how much cash is entering and leaving your business in any given period. Along with balance sheets and income statements, it is vital for managing your small business accounting and making...
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How to make the most of cloud-based accounting software
17 March 2022

The cloud is king in the world of accounting, with a vast range of software and applications available, designed to be easy to use by businesses and their owners. The beauty of cloud accounting is that the software can be accessed anywhere that has an internet connection on a range of devices.
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Avoid the pitfalls of the SEISS scheme
17 March 2022

Thousands of taxpayers benefited from the Self-Employment Income Support Scheme (SEISS) as the pandemic raged over the last two years, before its closure last year. The scheme, which involved five grant payments, was set up by the Government to provide support for the self-employed, for example sole traders...
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Company tax returns must include COVID-19 grants says HMRC
17 March 2022

Taxpayers are being reminded that COVID-19 support grants or payments should be declared on company tax returns as they are taxable. HM Revenue & Customs (HMRC) has issued a reminder that the filing deadline for company tax returns (CT600) is 12 months after the end of the accounting period it covers.
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HMRC focuses on backlog of work by shuttering telephone services
17 March 2022

HM Revenue & Customs (HMRC) has announced that it is having to prioritise its essential services by temporarily closing some of its telephone hotlines, following a surge in enquiries during and since the pandemic.
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Brexit: UK exports to single market fall amid “unstable” trading environment
11 March 2022

UK exports to the European Union have fallen by almost £20 billion since leaving the single market in 2021, a major study has revealed. The figures, published by the Office for National Statistics (ONS), come after research revealed that half of traders are “not confident” in exporting internationally...
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International trade: UK moves into second and final phase of accession to join CPTPP
03 March 2022

The UK has moved into the second and final phase of accession to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), it has been announced. Membership will give British businesses unlimited access to a global market worth £8.4 trillion each year.
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