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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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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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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New Advisory Fuel Rates

07 Jan 2020

A new set of Advisory Fuel Rates came into effect from the beginning of December 2019, which apply to employees who use a company car. The rates can be used in circumstances where you are reimbursing employees for business travel in their company car or in requiring employees to repay the cost of fuel used […]

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HMRC launches revamped CEST IR35 off-payroll working tool

07 Jan 2020

With less than three months remaining before the IR35 off-payroll working rules begin to apply in the private sector, HM Revenue & Customs (HMRC) has launched a revamped CEST IR35 off-payroll working tool. The rule change means that engagers, rather than workers, will be responsible for determining whether an engagement falls within the IR35 rules. […]

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SMEs now wait 23 days for late payments, new study finds

07 Jan 2020

According to the latest data, UK SMEs now have to wait up to 23 days on average for late payments to be made. MarketFinance, a peer-to-peer invoice finance platform, has analysed late payment data between 2013 and 2019 from 100,205 invoices raised by UK SMEs to give a detailed overview of the late payments pressures […]

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More than 3,000 taxpayers complete self-assessment on Christmas Day

07 Jan 2020

Instead of tucking into turkey or unwrapping their gifts, 3,003 taxpayers completed their self-assessment returns on 25 December 2019, according to HM Revenue & Customs (HMRC). Every year hundreds of people across the UK use the Christmas break as a time to manage their financial affairs, with HMRC declaring it a “Christmas tradition”. HMRC said […]

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Keeping workplace gifts tax-free this Christmas

11 Dec 2019

Over the Christmas period, you may wish to treat your employees. This is a tried and trusted approach to building a strong relationship with your team. But are you aware that you may be breaking PAYE rules by doing so? We want to ensure that you enjoy the holidays just as much as your team, […]

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The end of the help-to-buy ISA – What’s next?

11 Dec 2019

Since 2015, banks and building societies have been offering help-to-buy ISAs to first-time buyers. To qualify, you had to be 16 or over and be a first-time buyer. However, as of the end of last month, the scheme has been closed to new savers. Under the scheme savers could deposit a lump sum of up […]

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