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 […]
The economy has a long way to go before we see a recovery
Everyone knows that opinion polls are not a complete guide to the future. I say that because this post is based on work by YouGov, which is a polling organisation. But this is not the standard poll reported from them. It’s a poll on the plans of business. Does this make it any more or […]
5% deposit mortgage scheme launches
A new government-backed mortgage scheme will help first time buyers or current homeowners secure a mortgage with just a 5% deposit The guarantee will be valid for up to seven years after the mortgage is originated, evidence shows that loans are unlikely to default after such a period has elapsed. The scheme is intended […]
This week in tax: G20 moves towards a global tax reform
The chances of international tax reform got a boost this week when G20 finance ministers moved towards a global minimum corporate tax rate after the US declared its support for the proposal. The Biden administration has set out a Made in America tax plan to realign the US fiscal system with OECD efforts to solve […]
National Living Wage and National Minimum Wage rise from 1 April
Millions of workers in all parts of the UK will receive a pay increase from today as minimum pay rates rise, with the age threshold reduced to 23 year olds Around two million of the UK’s lowest-paid workers will benefit from an increase in National Living Wage and National Minimum Wage. The National Living […]
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 […]
HMRC apologies for VAT registration delays
HMRC recently apologised for delays issuing VAT registration numbers due to a high volume of applications. But the tax department also called on business owners and agents to reduce the number of errors on applications, which has slowed up the process. What can be done to reduce these errors and what should a business do if its […]
3,300 companies at risk of bankruptcy when insolvency ban lifts
Credit and Source: Accountancy Daily ‘Insolvency gap’ statistics suggest at least 3,300 UK business collapses are stored up for when the moratorium on insolvency actions ends on December 31, says UHY Hacker Young The top 20 accountancy firm, according to Accountancy Daily’s Top 75 Survey, says the ban on creditors petitioning to wind companies up may have […]