Making Tax Digital (MTD) became mandatory for all VAT registered businesses in the UK on 1 April 2022. The government has introduced the scheme in a bid to help taxpayers submit their tax returns correctly, reduce common mistakes and save time. Evidence shows that... read more
Chancellor Rishi Sunak reduced VAT rates to 12.5% during the pandemic to help struggling businesses in the hospitality sector. While many were hoping that this would be extended to give organisations time to get back on their feet, the Chancellor has confirmed that... read more
The tax year comes to an end today, 5 April 2022, which means that any employers who are running payroll now need to submit their records to HMRC. As well as reporting your previous year’s taxes, you should also give your employees their P60 and start preparing for... read more
With more and more businesses moving their processes online, The Information Commissioner’s Office (ICO) has urged organisations to recognise the importance of keeping themselves and their customers safe from online scams. The ICO is recommending that companies... read more
What are the risks? With an average enquiry taking 18 months to conclude, the associated costs can quickly escalate, yet the cost of not defending enquiries to their full extent could be substantially higher. If you cannot afford the defence, you could end up paying a... read more
National Insurance contributions (NICs) will be increasing by 1.25% from 6 April 2022. Naturally, this may be disconcerting for employees who have already been hit with rising living costs over the last 12 months. While nobody wants to see more money deducted from... read more
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