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 readingTag Archives: business
2022 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 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 readingHB are Celebrating: Hertfordshire Chamber of Commerce Inspiring Herts 2022 Awards Finalists
We are feeling a little bit excited about Hertfordshire Chamber of Commerce’s latest annoucement. HB Accountants are finalists in the Inspiring Herts 2022 Awards!! And we are finalists in not just one category, we are finalists in two Inspiring Herts 2022 Awards categories – a fabulous reason to celebrate!!
Continue readingVAT: Has HMRC contacted your businesses about VAT?
Some non-VAT registered businesses have recently received letters from HMRC claiming that they are trading above the VAT threshold. Any business that has received such a letter needs to act quickly. They should share the letter with their tax agent/accountant then work together to review the rolling 12-month turnover figures.
Have you missed the tax return deadline of 31 January 2022?
The 2020-2021 tax year runs from April ’20 to April ’21, the last date for submitting returns for those who do self-assessment was 31st January 2022 – this is referred to as the tax return deadline. Will you find yourself in trouble with HMRC if you didn’t submit your return in time, along with any tax you owe?
Here’s what you need to know…
Continue readingHow does the Autumn Budget 2021 impact on you and your business? Find out here
The Chancellor Rishi Sunak presented his third Budget on 27 October 2021. In his speech he set out the plans to “build back better” with ambitions to level up and reduce regional inequality. Find out how the Budget impacts on you and your business below
Continue readingPlanning For Growth
Welcome to our new series of blogs that will help organisations and businesses of all sizes with PLANNING FOR GROWTH.
After the roller coaster 18-months of lockdowns, openings and for some, a reduced customer base, it’s time to refocus our energies on growth. Over the next few months, we will write a number of blogs on this topic. They will be packed full of guidance and tips that will help your business flourish. Featuring ways to streamline your processes, that will prompt you to review your activities, as well as offering invaluable advice.
Continue readingMaking Tax Digital Income Tax Self Assessment delay announced (MTD ITSA) delayed to 2024
MTD ITSA has been delayed by the government to 6 April 2024 – MTD for general partnerships postponed until to 2025 – the change to the tax year basis has also been delayed until at least April 2024
Another deferral to the MTD programme
Continue readingHMRC told our client to wait 6 months for tax refund to be processed – not on our watch!
James* is 22 years old and is self-employed. He has successfully claimed the SEISS, as his business was negatively financially impacted during the Covid19 pandemic – he wasn’t able to work during most of the Covid19 lockdowns.
Continue reading