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Reduction in support for hospitality sector
October 14th, 2021

The temporary reduced rate of VAT (5%), introduced to assist qualifying hospitality trades disrupted by COVID lockdown measures, was increased to 12.5% from 1 October 2021. Based on present information, from 31 March 2022, this 12.5% rate will revert to the 20% standard rate. This reduction in VAT applied to the sales of hospitality trades […]

Autumn Newsletter
October 13th, 2021

Dear All, Our Autumn newsletter is available here and contains some interesting updates, including the forthcoming increase in dividend taxes. Autumn 2021 Newsletter The Chancellor will deliver the Budget on 27th October and with pressure on the public purse it will be interesting to see if he goes further than the pre-announced changes.  Could Inheritance […]

Tax year end – all change?
October 13th, 2021

At present, self-employed traders (sole traders and partnerships) are taxed for each tax year on profits for the accounting period ending in that tax year. Therefore, if a trader’s accounting year end is 31 December, their assessment for 2021-22 will be based on adjusted profits for the year ending 31 December 2021. Which means that […]

Better late than never
October 7th, 2021

A recent HMRC press release confirmed that sole traders and buy-to-let property businesses (but not incorporated businesses) will have an extra year to prepare for the digitalisation of Income Tax. Recognising the challenges faced by many UK businesses and their representatives as the country emerges from the pandemic, and having listened to stakeholder feedback, the […]

New measures to ease fuel supply chain pressures
October 5th, 2021

The UK Government has announced that further measures will be put in place to help ease supply chain pressures as spikes in demand for fuel create a panic buying hysteria. This added pressure to already stretched supply chains is a further blow to affected businesses across the UK. The Government has announced the new measures […]

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