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On Friday the 23rd of September, the new Chancellor, Kwasi Kwarteng announced a Mini Budget 2022 to help with the cost of living crisis, superseding the Spring Budget announced in March 2022. Many of the tax cuts announced reversed taxes brought in by Rishi Sunak, the previous Chancellor, designed to help UK pay for the…

As of the 1st of March 2021, the Domestic Reverse Charge VAT rate will come into effect for businesses in the construction industry who are VAT and CIS (Construction Industry Scheme) registered. There are two main impacts: Subcontractors If you are providing construction industry services (as defined by HMRC’s guide on CIS work) to a…

Rishi Sunak has announced that the furlough scheme, where employees who are not working, will have 80% of their wages subsidised by the government, will now be in place from the 1st of November to the 31st of March 2021. Since the 1st of August, we have also seen the introduction of flexible furlough, where…

HMRC have released a policy paper recently around guidance for taxpayers who can not pay their tax bills. From a summary level, if you can not pay your tax bill these are the steps you need to follow: Before you contact HMRC the amount of the tax bill you’re finding it difficult to pay and…

This year, we are putting more of a focus on sharing and educating our client base with helpful areas of accounting and taxation that impact them directly. We kick off this series of webinars, covering a very important topic at the moment – IR35 changes that are due to take place from the 6th of…