by Ruth Clark | May 30, 2022 | Budget Announcement
The chancellor unveiled emergency measures as part of a £15bn package to tackle the impact of soaring inflation, which has reached a 40-year high. How is it funded? Out of £15 billion, £5 billion of the package would be paid for by a levy on the profits of oil and gas... 
by Ruth Clark | May 16, 2022 | Business, HMRC, Uncategorised
The government is increasing dividend tax by 1.25%, and this will have an impact on shareholders, not least those of family and owner-managed companies. The reaction to this announcement might be to withdraw as much as possible before 6 April 2022 to reduce their... 
by Ruth Clark | May 16, 2022 | HMRC
Unincorporated businesses – including sole traders, trusts and those businesses working as partnerships, and anyone else that pays tax on trading income – face a major change that will affect the way and the time they are taxed on their profits. The so-called Basis... 
by Ruth Clark | May 16, 2022 | Uncategorised
Some taxpayers must pay a tax more than once a year, and if this is you, you are facing a second tax bill before July 31. Those exempt from making a payment on account in July include those who had a self-assessment tax bill of less than £1,000 for the previous tax... 
by Ruth Clark | May 16, 2022 | HMRC
Anyone filing VAT returns from April 1, 2022, has to file their return digitally as HMRC’s Making Tax Digital reaches its next phase. All businesses registered for VAT – even if they have turnover below the threshold – must file their returns this way from now on....