Commencing with periods beginning with 1 January 2023, HMRC have introduced a new penalty and interest regime for VAT returns and payments.
Expert Opinion
What tax allowances can I claim?
You may find that increases in your income push you into higher rates of tax or that ultimately you may see your tax liability increase, Adam explains what you can do to make the best use of your tax allowances.
Introduction of VAT late payment interest
Rob explains about a new penalty and interest regime for VAT returns and payments which has been recently introduced by HMRC.
Self-employed individuals and landlords given more time to prepare for MTD for ITSA
MTD was due to be phased in from April 2024, however, HMRC have announced some changes which are explained by Rachel.
What are your business resolutions for 2023?
We share some examples of business resolutions which might help you think about your strategy for success in 2023.
Better financial data for your practice
Shaun explains the benefits for medical practices of moving to cloud-based accounting software ahead of the MTD deadline.
Top tips for preparing a Trustee’s Report
Ryan explains the purpose of the Annual Trustees’ report and shares his three top tips for its preparation since auditors and the ESFA have increased their focus on their contents in recent years.
Riding the waves of change
Tim reflects on the previous year and shares his thoughts about how to approach change in a positive way for the year ahead.
Delayed Making Tax Digital for Income Tax and Self Assessment – who will it impact?
Rob explains the reason behind the delay along with some specifics about who and how individuals would be impacted.
Thinking of selling your business?
Recently, we have been helping a number of our entrepreneur clients develop exit strategies. Ollie outlines the many issues to consider in doing so.
GP practices fight to keep staff
Having first appeared in the Autumn 2022 issue of AISMA Doctor Newsline, this article by Sally Sidaway looks at what GP practices can do to help ride the storm.
Can I save money by buying an e-bike through my company?
Our friends at EDEMO electric bikes have written about the tax benefits of buying an e-bike through your company with comment from James Geary.
How Direct Debits can help your business with its cash flow
Shaun explains how using Direct Debit as a payment option for your customers benefits your business in many ways, particularly your cash flow.
Bite the bullet now – and give your practice better financial data
A surprising number of practices still use outdated, limiting accounting software. This article explains why they need to embrace cloud based software packages approved for Making Tax Digital.
Update your payroll software for 6 November NIC changes
Make sure your payroll software is ready for the change to National Insurance Contributions that takes effect 6 November.
New Chancellor reverses almost all announced tax cuts
Rob summarises what some are saying is the biggest U turn in British History, following some significant announcements of U turns in policy last week.
Support for Non-Domestic Energy Costs
Rob provides a summary about today’s announcement concerning support for businesses with rising energy costs and the further forecasted increases.
Now is the time to focus on being more effective
Effective people constantly grow, evolve and make changes to the way they do things. Your focus should be on working smarter, not harder. Will explains how.
Back to school – childcare vouchers versus tax-free childcare account
Rob explains more about the Government’s Tax-Free Childcare Accounts which provide a 25% subsidy towards the cost of childcare for which there continues to be a poor take up.
Managing your cash in tough times
With ever-increasing supplier prices, a rise in interest rates and a looming recession, managing your business’s cash and understanding the flow are now vital tools in maintaining resilience and being able to adopt flexible strategies for success.