News

Fears over move to MTD, as few take part in income tax pilot scheme
14 February 2022

A pilot scheme using software in preparation for the next phase of HM Revenue & Customs’ (HMRC) Making Tax Digital (MTD) initiative has seen a slump in users. Self-employed businesses and landlords with annual business or property income above £10,000 will need to follow the rules for MTD...
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Company directors banned for Bounce Back Loan fraud
14 February 2022

Two company directors have been banned for a total of 21 years after they fraudulently claimed £100,000 in bounce back loans. Following an investigation by the Insolvency Service, Aamer Aslam from Huddersfield and Razwan Ashraf from Keighley were disqualified for 11 and 10 years respectively...
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New tax rules on holiday lets – What does it mean for owners?
14 February 2022

It was recently announced that the Government would reform business rates relief for owners of second homes – resulting in some holiday let owners facing additional costs of up to £1,000 a year.
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Most popular options available when setting up a new business
14 February 2022

It’s a new year and many people who may have lost their jobs during the pandemic or have decided to take their life in a new direction, will be looking to start up a business. It could be a full-time endeavour or a part-time business looking to make a bit of extra income to cope with the current cost of living crisis.
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Can you avoid the P11D process?
14 February 2022

Every year employers across the UK submit an end-of-year report to HM Revenue & Customs (HMRC) outlining the benefits provided to each employee and director, which were not included in their wages.
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Brexit: have your say on the future of customs
11 February 2022

The Government is calling on businesses, traders and the public to have their say on the future of customs. The call for evidence comes after the introduction of full customs controls in January this year, forcing thousands of traders to change the way they do business.
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Brexit Freedoms Bill to be brought forward
04 February 2022

The Brexit Freedoms Bill will be brought forward to “cut red tape” and improve trading conditions for British businesses, it has been announced. The new laws will make it easier to amend or repeal outdated “retained EU law” to support international growth.
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Brexit: UK launches “world-leading” data council to help seize global data sharing opportunities
31 January 2022

The world’s biggest businesses – including Google, Mastercard, and Microsoft – came together for the first time last week to help Britain “seize the opportunities of better global data sharing” now that it has left the EU.
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Half of firms “not confident” in trading with EU following introduction of full customs controls
24 January 2022

More than half of businesses are not confident in trading with the European Union (EU) following the introduction of full customs controls, a major study has found.
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Give yourself Time to Pay
19 January 2022

Taxpayers who are unable to pay their Self-Assessment (SA) bill can use the option of paying by instalments with a Time to Pay arrangement with HM Revenue & Customs (HMRC). If you cannot pay a Self-Assessment tax bill you can make your own Time to Pay arrangement using your Government Gateway account...
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