Why HB Accountants are are proud to sponsor Your Town and are keen to spread the word about Your Town’s latest campaign #WeAreNext… the seed for Your Town was planted when Founder, Mark White, sent himself an email in 2011 with an idea for a running event that started and finished in his home town, and ours, of Hoddesdon, EN11 Hertfordshire.
Continue readingThe Government have extended the £1 million AIA tax break to stimulate investment in UK manufacturing – are you making use of your annual investment allowance?
Does you business deal with Plant & Machinery? If yes are you making use of your annual investment allowance?
If your business deals with plant and machinery, you might be entitled to use your Annual Investment Allowance (AIA). You could claim up to 100% tax relief on any qualifying plant and machinery assets in the first year of purchase, that are bought outright – not leased. The criteria for these assets are quite rigorous, and exclude cars, but it’s worthwhile checking with your accountant to see if your business qualifies.
Continue readingNo late filing penalty if your tax return is filed online by 28 February 2021
HMRC to waive self assessment penalties for one month – HMRC Chief Executive Jim Harra has announced today that If you do not manage to file your Self Assessment tax return online by 31 January you will NOT receive a penalty as long a you file your tax return online by 28 February.
Continue readingTurning 100 – it’s our centenary and it’s time to celebrate
1921 – the year that the Duke of Edinburgh was born, tax discs were introduced for cars, and it was the first time that a ‘woman was sawn in half’ in public as part of a magic show.
…and of course, the one and only HB Accountants was founded.
Continue readingConfused about the COVID19 support grants available to you? Check out what is available, if you are eligible and how to apply here
This guide will help you understand the full range of business support measures that have been made available by the Government to help you and your business financially during Covid19. Plus find out how to access the support measures that have been made available (who is eligible) and how to apply.
Continue readingDirectors – do you know the most tax efficient way to pay yourself?
As a director of a limited company, you are probably keen to know the most tax efficient way to take money from the company personally. This is usually by taking a combination of salary and dividends from the limited company. The salary is paid in the same way you’d pay a regular employee and needs to be reported via the HMRC’s Real Time Information (RTI) rules.
Continue readingCOVID19: Supreme Court backs small firms over business interruption insurance claims
The insurance industry and consumers throughout the UK have been waiting for today’s ruling since the early days of the COVID19 pandemic – the final ruling on the appeal of the Financial Conduct Authority (FCA)’s business interruption case. The Supreme Court livestreamed its judgement today, substantially allowing the FCA’s and the Hiscox Action Group (HAG)’s appeal and dismissing insurers’ appeals.
Continue readingApprenticeships: New talent, new skills, and lots of business value
Businesses need people with the right skill sets; talented people now and talent in the pipeline for succession planning. These people are not always easy to find, particularly at the time that they are needed. Here’s a potential solution: grow your own via the often overlooked Apprenticeship Scheme.
Continue readingNew one-off Lockdown grant just announced (on top of the discretionary grant funding for Local Authorities & Local Restriction Support Grants & Furlough) – could be worth up to £9k
Businesses in the retail, hospitality and leisure sectors are to receive a one-off Lockdown grant on top of grants already being paid out. This is in addition to the discretionary grant funding for Local Authorities & Local Restriction Support Grants & extension to Furlough.
Continue readingHave you been required to work from home, even for one day since 6 April 2020? Then you may be entitled to claim for expenses for the whole of the 2020-21 tax year
You have always been able as an employee to claim expenses for working from home if your employer requires you to work at home. This has become much more relevant during the 2020/21 tax year due to the COVID-19 pandemic. HMRC has confirmed that claims from employees working at home due to coronavirus measures, if their usual workplace is closed, count as working from home for tax purposes.
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