Do you need help to grow? Help to Grow is an initiative providing two schemes to smaller businesses with a view to helping growth. If a business wants to take advantage, what do they need? There are two schemes that fall under the Help to Grow umbrella. Help to Grow: Digital. This allows a business ... Read More
Don’t miss out on tax reliefs It’s an unfortunate fact that some of the most widely applicable tax reliefs are the most underclaimed. In an effort to encourage as many people as possible to claim these, HMRC has published a page giving a summary of the reliefs with a link for checking eligibility. What’s the ... Read More
VAT and Electric Vehicle Charging A business owns several electric vehicles (EVs), which are used by employees for business purposes. Other employees own EVs and the company pays them a mileage rate for their business trips. How much input tax can the business claim on the costs? Current policy HMRC recently confirmed it is trying ... Read More
Grant Overpayments HMRC starts to assess Grant Overpayments HMRC is currently writing to taxpayers that need to repay some or all of their self-employment income support scheme (SEISS) grants. What’s the full story and what action needs to be taken on receipt of such a letter? The fourth and fifth SEISS grants were calculated based ... Read More
IECnet appoints new COO, Katharina Rottenbacher. We are an active member of the IECnet association of accountants, auditors and tax consultants. This membership gives us a greater international reach for all our customers who operate outside the UK and need the global support and worldwide reach this association provides without the headaches of setting up ... Read More
Mitigating the NI rise The higher NI rates for 2022/23 will mean an employee on the average wage will pay around £230 per year more compared to 2021/22 and the employer will face a similar increase. How can they both legitimately reduce or avoid this extra cost? NI rise confirmed The government has committed to ... Read More
Spring Statement 2022 – Introduction Against a backdrop of rising inflation, Chancellor Rishi Sunak presented his first Spring Statement on Wednesday 23 March 2022. In his Spring Statement, the Chancellor announced a cut in fuel duty for petrol and diesel as he sought to ease the impact of rising prices for households and businesses. The ... Read More
New reporting requirement for FRS businesses HMRC’s latest Business Brief sets out the new rules which will apply for VAT return periods commencing on or after 1 June 2022. The change is needed to correct HMRC’s previous guidance regarding FRS-registered businesses that used postponed accounting for imports rather than paying VAT at the point ... Read More
HMRC provides further detail on late filing reprieve At the start of January 2022, HMRC announced an extension to the tax return penalty trigger dates. It’s now released further details concerning agents delayed due to COVID, partnership returns and more. What do you need to know? Agents. Many taxpayers use accountants or tax advisors (collectively ... Read More
Greater Manchester Clean Air Zone and Financial Support Scheme Financial Support Scheme Find out more Is My Vehicle in the Zone? Find out more Vehicle Funding Checker Find out more The Clean Air Zone To find our more visit the Clean Air GM website The Greater Manchester-wide charging Clean Air Zone is due to be ... Read More
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