BLOGS
Financial Insights and Expert Advice
Join us as we explore the intricacies of accounting, taxation, financial planning, and more. Let’s embark on this journey together
If you are holding a Christmas party for staff this year, you may want to take advantage of the tax exemption for annual parties and functions to prevent your employees from suffering a benefit-in-kind tax charge.
From 4 April 2022, applicants applying to renew certain licences will need to pass a tax check before their ...
Annual Investment Allowance (AIA) transitional limit extended
The deadline for filing your 2020/21 self-assessment tax return is midnight on 31 January 2022. However, if you have underpaid tax and you are employed and would prefer HMRC to collect that underpayment through your tax code, you will need to file your return online by midnight on 30 December 2021. You can also have an underpayment coded out if you filed a paper return by 31 October 2021.
To help the hospitality and leisure industries recover from the impact of the COVID-19 pandemic and associated lockdowns, a reduced rate of VAT of 5% applied from 15 July 2020
The Chancellor presented his Autumn Budget and Spending Review on 27 October 2021. Some of the highlights are discussed below.
Making Tax Digital (MTD) for VAT is currently only compulsory for VAT-registered businesses whose turnover for VAT £85,000.
National Insurance Rises - A new tax, the Health and Social Care Levy, is to be introduced from 2023. Read more
The Coronavirus Job Retention Scheme (CJRS) came to an end on 30 September 2021. Find out how this affects you.
The dividend tax rates are to increase by 1.25% from 6 April 2022. Talk to PI Accoutancy to see how we can help.
The recent ‘pingdemic’ has resulted in large numbers of employees self-isolating. Where an employee meets the qualifying conditions, you must pay them SSP while they are self-isolating. As qualifying periods of self-isolation count as a Coronavirus-absence, if you are a small employer, you may be able to reclaim the SSP paid to self-isolating employees from HMRC under the Coronavirus Statutory Sick Pay Rebate Scheme.
In July 2020, the VAT rate for the tourism and hospitality sector was temporarily reduced to 5%, from 20%. The businesses that were able to take advantage of the reduced rate include;
This week is about helping raise awareness of the importance of your payroll, for your employees, to your own business, and the economy.
A UTR is your Unique Taxpayers Reference Number, is what identifies you personally with HMRC. Read for more information
When you pay VAT in QuickBooks Online, you are recording the payment against a specific VAT period; you are not transferring money to HMRC.
Whether you’re brand new to QuickBooks or you use it already, there’s always more to learn to ensure you’re maximising the resources you have available to you. Find out our top 3 tips
From 15 June 2021, all businesses and organisations will need multi-factor authentication in order to sign into the Government Gateway.
If you are self-employed, you will pay Class 2 and Class 4 National Insurance contributions if your profits exceed the relevant thresholds.
You can use a PAYE Settlement Agreement (PSA) if you wish to settle the tax liability arising on the provision of a benefit-in-kind.
As the Coronavirus Job Retention Scheme (CJRS) enters its final months, now is the time to review grants that you have claimed under the scheme, and pay back any amounts claimed in error. You may also choose to repay voluntarily funding that you have received under the scheme if your business does not need it. Some notable large companies in the retail and hospitality sectors have opted to do this.
Claims for the fifth grant under the Self-Employment Income Support Scheme (SEISS) will open from late July - Find out more
The residential stamp duty land tax (SDLT) threshold applying in England and Northern Ireland was temporarily ...
Although the furlough system was designed to keep workers employed, unfortunately, it doesn't protect them from being made redundant.
Shareholder disputes often arise on matters such as company strategy, salaries and dividends.
Disputes amongst ...