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What to expect from an HMRC investigation.

  Tax enquires have been on the rise over the past few years and generate around £20 billion for HMRC. With the announcement of a recruitment drive to their compliance department, it’s unlikely HMRC plan to slow any time soon, in fact, we suspect quite the opposite. That’s why we felt like now would be....

Despite ‘Freedom Day’ being on the horizon, The Coronavirus Job Retention Scheme (CJRS) continues to support many businesses and will do so until it ends in September.   The scheme was extended earlier this year in the spring budget but will be withdrawn in stages over the next three months.   The withdrawal of this....

The announcement of ‘paying farmers to retire’ has been circulating the press over recent weeks.   Although the official guidance is yet to be released we felt now would be a good time to inform you of what we know. The Department for Environment, Food and Rural Affairs (DEFRA) has published a consultation called ‘Direct....

The government has announced a new zero rate of secondary Class 1 National Insurance contributions (NICs) for eligible employers on the earnings of eligible employees working in a Freeport tax site.   What is a Freeport tax site? Freeports are usually located around shipping ports, or airports. Goods that arrive into freeports from abroad are....

Businesses who are required to use Making Tax Digital (MTD) for VAT but not registered could face fines of up to £400, it has been warned.   HMRC have reportedly written to over 100,000 businesses who are currently non-compliant with the changes.   Under the new rules, VAT-registered businesses with a taxable turnover above the....

Last year due to the pandemic, the government increased the work from home allowance to £6 per week. The tax break came as a welcome, unexpected bonus for many employees.   It was recognised that household bills would naturally rise from more people spending more time working at home whether that be heating or internet....

As the world begins to open up a little more, the schemes put in place to support businesses are starting to come to a close. Any business that deferred VAT in the wake of the coronavirus pandemic must act before 30 June 2021.   What is the VAT deferral scheme? In a bid to help....

We are bursting with pride after receiving the news that we have been shortlisted for FOUR awards at the 2021 Yorkshire Accountancy Awards!   We are finalists in: – Independent Firm Of The Year – Best Employer – Team Of The Year – Yorkshire Accountant Of The Year   Independent Firm This category is for....

When the UK left the European Union on 1st January 2021 it brought about a new set of tax and customs rules for businesses that trade goods or services across EU borders.   As a result, the Government announced an SME Brexit Support Fund – a new grant that established businesses in the UK can use for....

On Monday the next stage of lifting lockdown began in England, meaning more businesses will be able to re-open. From April 12th all shops were allowed to open along with the following; -Hairdressers, beauty salons and other close-contact services allowed to open -Restaurants and pubs allowed to serve food and alcohol to customers sitting outdoors....