Small businesses paralysed by mixed messages and uncertainty as UK unlocks
SMEs are in a state of paralysis and feel unable to plan their financial future, according to a survey from ACCA UK (the Association of Chartered Certified Accountants) and The Corporate Finance Network (CFN). A total of 77.8% of accountants’ small business clients are not expecting to return to pre-COVID levels of production and turnover […]
HMRC spends £250k training staff to be hackers
[vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none”][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1/1″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” column_border_width=”none” column_border_style=”solid” bg_image_animation=”none”][vc_column_text] HMRC has spent £262,251 on cyber security training for its staff over the last two years, according to official figures The […]
Mini-umbrella companies set up to avoid tax
Around 48,000 mini-umbrella companies (MUC) have been created in the past five years in a bid to reduce the tax and national insurance contributions (NIC) paid by recruitment agencies A BBC investigation by radio programme File on 4 found that that more than 40,000 people in the Philippines had been recruited to front British companies […]
CIS: Getting your tax refund back fast
For sub-contractors who work within the Construction Industry Scheme (CIS), you can get your annual tax refund back faster with ADS Accountants. Whether it’s home improvements, a real treat for friends/family or a holiday, it’s always good to have extra cash whenever you need it. What is CIS and can I claim? The Construction […]
April 2021 changes to Making Tax Digital (MTD) for VAT reporting
These obligations were due to be implemented on 1 April 2020 but they were postponed by the Covid-19 pandemic. For the first time, the obligations are accompanied by the threat of penalties. This article explains who will be affected and what the obligations are. Who is affected? VAT-registered businesses, individuals and charities with a taxable […]
Accountants experience 60% increase in payroll services, says QuickBooks
The research was conducted by Censuswide on behalf of Intuit QuickBooks with a sample of 500 UK over 18 accountants/decision makers at accountancy firms in February 2021. In the last 12 months accountants have experienced a 60% uplift in small businesses approaching them for payroll expertise and services, according to new research from QuickBooks. The research revealed […]
Businesses are losing 12% of revenue due to unclaimed VAT
The survey, which questioned 500 UK business and finance leaders, looks at the ways businesses are recouping money in response to the Covid crisis and the reasons preventing them from reclaiming VAT effectively. The pandemic has created new problems when it comes to VAT reclaim: in the midst of an already challenging tax landscape, businesses […]