Functionality to allow employers to set up a recurring direct debit to pay PAYE and national insurance liabilities will launch early in October. HMRC have announced that a variable payment plan for PAYE and NIC liabilities will be available. The existing system allows only a single payment to be made by direct debit.
Continue reading2022 Mini Budget Update: Our Summary
The strong theme of the new Chancellor, Kwasi Kwarteng’s first budget has been the stimulation of growth. The mini-budget 2022 (not so mini) is designed to boost economic growth through tax cuts, which will be paid for by increasing the UK’s national debt.
UPDATE 3 October: *since the mini budget on Friday 23rd September, the government have made a U turn on abolishing the 45% high rate of income tax
Continue readingNew UK PM Liz Truss: new policies and what they mean for business and for you
Liz Truss has beaten former chancellor Rishi Sunak in a ballot of Conservative members and will replace Boris Johnson as Conservative Party leader and PM tomorrow. Take a look at proposed policies and what they mean for business and for you
Continue readingMTD VAT Final Call
From 1 November 2022 businesses and agents will only be able to file VAT returns using MTD compatible software – HMRC’s online VAT return will close. The online VAT return will only remain available to those with a digital exclusion exemption. MTD VAT is just around the corner, this is the final call
Continue readingSupporting Our Local Food Bank: Together we can overcome hunger
HB Accountants are proud to support Morrisons Hoddesdon’s Food Drive which is taking place in the carpark at Morrisons in Hoddesdon, Hertfordshire on Saturday 27th August. By supporting your local food bank, together we can overcome hunger.
Continue readingHave you complied with HMRC’s requirement to register trusts?
New rules introduced by the EU fifth money laundering directive mean that it is now a legal requirement to register any UK trust deliberately created (express trust), even if there is no tax liability; for example, bare trusts. Have you complied with HMRC’s requirement to register trusts?
Continue readingNeed to know: Proposals for the next Finance Bill
Draft legislation for the Autumn Finance Bill 2022-23 is now available and it includes consultation on changes to capital gains tax, R&D tax relief, pensions and more. Some of the proposals are welcome, however, others may impact your business considerably. Here’s our overview of the main points
Continue readingNew Advisory Fuel Rates
HMRC has announced new advisory fuel rates (AFRs) for company cars. They apply to all journeys on or after 1 June 2022 for company car drivers claiming back fuels costs from their employer.
Continue readingNew optimum salary levels for Directors
Recent National Insurance Contributions (NIC) rate and threshold increases means that our recommended optimum salary level for directors has changed. This article outlines the changes and the suggested salary level for directors.
Continue readingTop Tips For Making The Most of A Careers Fair
Attending a careers fair is a great way to speak to different employers all at the same time and a fantastic opportunity for you, so make sure you prepare and read HB’s Top Tips here
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