Entrepreneurs’ Relief changes expected in March Budget

20 Feb 2020

Speculation is increasing that the Government will announce significant curbs on Entrepreneurs’ Relief in the Budget, or could even scrap the valuable tax relief altogether. According to the Financial Times, ministers are concerned that Entrepreneurs’ Relief is too generous to wealthy individuals. Entrepreneurs’ Relief allows business owners to pay half the usual 20 per cent […]

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Get ready for a range of tax changes this April

20 Feb 2020

Monday 6 April 2020 will see a range of tax changes come into effect with the start of the 2020/21 tax year. Some of these changes have the potential to have considerable implications for your tax bill, depending upon your specific circumstances. Here is a selection of the most significant changes: Capital Gains Tax (CGT): […]

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VAT zero-rating now applicable to businesses e-publications

20 Feb 2020

Businesses that rely on the production of guides, physical books, newspapers or other printed materials currently enjoy a zero-rating for VAT. However, those who sell and publish similar content online have had to pay VAT at the standard rate. This is now set to change after a decision made by the Upper Tax Tribunal (UTT) […]

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Latest case highlights the dangers of not meeting workplace pension requirements

20 Feb 2020

A recruitment business has been ordered to pay £10,890 after avoiding their automatic enrolment duties and misleading the Pensions Regulator (TPR). Hertfordshire-based SKL Professional Recruitment Agency Ltd’s managing director Linus (known as Lee) Kadzere has been sentenced at Brighton Magistrates’ Court for wilfully failing to comply with the workplace pension rules and misleading TPR. The […]

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When was the last time you checked your NIC record?

20 Feb 2020

Most workers assume that their National Insurance Contributions (NICs), as reported by their employer or through their own records, are accurate and up to date. After all, within the Income Tax system, we have the comfort of an annual reconciliation process, so why would NICs be any different? However, it may come as a shock […]

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Property tax implications of getting divorced

20 Feb 2020

If you are in the process of getting divorced, it is likely that the tax considerations involved are not foremost in your mind. However, divorce can have extensive implications for your tax bill, including in relation to Capital Gains Tax (CGT). This means it is crucial that you take your tax position into consideration when […]

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Make the most of the Brexit implementation period

20 Feb 2020

Now that the UK has left the EU, we have entered an implementation period that will last the rest of 2020, during which the UK’s future relationship with the EU will be agreed, giving businesses the chance to prepare for the UK’s new trading arrangements. While much of the detail is still to be decided, […]

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How do I streamline my bookkeeping?

11 Feb 2020

According to popular software provider Xero, cloud accounting can save business owners up to three hours per day. With amazing tools such as automatic receipt readers, invoice generators and reminders, synchronised bank feeds and expense indexing, cloud accounting could boost your productivity and save you hundreds of hours a year. In this blog, we’re going […]

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Watch our RecieptBank training videos

15 Jan 2020

If you are new to ReceiptBank or are simply looking for a quick refresher, we have published a series of how-to videos on our website. The first video in the series starts off with the very basics – how to set up your RecieptBank account. The full series of videos can be viewed here. For […]

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VAT receipts reach record level of £133 billion

07 Jan 2020

Figures published by HM Revenue & Customs (HMRC) have revealed that VAT revenue in 2018/19 rose by £7 billion from the previous year to reach a record £133 billion. In the ten years since 2008/09, the VAT take has risen by 52 per cent from £87.9 billion. The bulk of the VAT take last year […]

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