Changes to the Construction Industry Scheme (CIS)

If you’re a Limited company operating within the Construction Industry Scheme (CIS) you need to be aware of the changes coming into play as of this month (April 2022).  HMRC have introduced additional information that needs to be submitted with your Employment Payment Summary (EPS) which you must submit for any CIS deductions suffered as a subcontractor.  The additional information … Read More

What is the National Insurance Contribution Uplift?

From 6th April 2022 the Health and Social Care Levy will be coming into place. In order to fund the NHS and other health and social care sectors who have been impacted by the Coronavirus pandemic, national insurance contributions will have a levy applied to them of 1.25%. If you’re processing payroll HMRC recommend you make sure that your employees … Read More

Help to Grow: Digital Scheme

As part of the Government’s plan to try and rescue as many small and medium sized businesses as possible from the impact of the pandemic, they have introduced the Help To Grow: Digital Scheme. By introducing this scheme they are hoping to encourage the growth of as many businesses as possible. In order to support businesses to invest in new … Read More

What do I need to know about MTD for VAT legislation

As you are probably aware, complying with Making Tax Digital (MTD) has been compulsory for most VAT registered businesses since April 2019. MTD was introduced in order to make the UK tax system as efficient as possible and to eliminate human error, which was costing the government billions of pounds each year. The next phase of MTD is coming into … Read More

Will the new business rates affect me?

On 21st October 2021 Rishi Sunak the Chancellor of the Exchequer announced the changes to business rates as part of the Autumn budget. He said that from 1st April 2022 until 31st March 2023 a new business rates relief would come into effect. The 50% relief, which is capped at ÂŁ110,000 per organisation, is available for eligible businesses in the … Read More

Changes for HMRC customers who pay VAT by Direct Debit

HMRC are in the process of changing their VAT services, this will mean that existing customers will need to be transferred over to a new IT platform. All customers who currently have a Direct Debit set up with HMRC will be affected. What action do I need to take? By law HMRC must have a valid point of contact for … Read More

What Changes have been made to the Furlough scheme?

If you are taking advantage of the Government Furlough Scheme then you need to be aware of the changes that came into effect from 1st July 2021. It is essential to continue to pay your employees at least 80% of their wages and the cap of ÂŁ2,500 per month remains in place. You will continue to contribute to your employees … Read More

What you need to know about the changes to Voluntary VAT submissions

We understand that in this current climate it can be difficult to keep on top of all the changes which are being made by the government and HMRC. So we thought we would tell you about what you need to know about the changes in VAT returns which are approaching us. Businesses with a turnover exceeding ÂŁ85,000 must be VAT … Read More

UK VAT Changes from 20% to 5% for Tourism and Hospitality Sectors (08/07/2020)

In today’s summer statement, the UK’s Chancellor said he plans to change UK VAT for the hospitality and tourism sectors from 20% to 5% with effect from Wednesday 15th July 2020 until Tuesday 12th January 2021. Any businesses that buy and sell food, provide accommodation or manage attractions will be affected by the change. We’ll publish more on this topic … Read More