Many people accessed the financial support from The Government through furlough, temporary changes to Statutory Sick Pay or bounce back loans and financing, however, with this safety net removed, a substantial number are now faced with rebuilding savings and making repayments to borrowings, all coming at a time of huge rising living costs.
UK new car registrations fell by -15.8% to 119,167 units in April, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT), with global supply chain shortages, and most significantly the continued lack of availability of semiconductors continuing to constrain the delivery of new vehicles.
Research & Development (R&D) tax relief is one of the most generous corporate tax reliefs offered by the UK Government, but many businesses miss out as they wrongly believe they are not eligible to apply.
There have been several announcements on changes to National Insurance (NIC’s) rules and rates over the last year or so. It is easy to lose track of these, here we review the changes and how they impact on individuals and businesses.
The Chancellor announced in the Spring Budget that the VAT rate applicable to the installation of energy saving materials and technologies will be reduced to 0%, from 1st April 2022 until 31st March 2027.
From 1st June 2022 businesses using the flat rate scheme for VAT face changes to the way in which they must treat import VAT that will have financial and practical implications for how they prepare VAT Returns.
With the use of a mobile app, employees are likely to file their expenses more frequently, giving better visibility of your cash position. Automating the process means staff can spend more time on generating revenue instead of internal tasks.
Over the last 3 years HMRC have started implementing their Making Tax Digital (MTD) VAT requirements, the gradual introduction has now concluded. Since the 1st of April 2022, it is a legal requirement for all VAT returns to be sent digitally and direct from software that provides a digital link for sales & purchases from sales system to return. If your business is not compliant, it is key to plan for changing this.