Inform Accounting

DECEMBER 12, 2022

If you use Royal Mail to deliver your goods you should be aware of planned industrial action that is due to take place on: Wednesday 14 December 2022. Read more of Inform's tax blogs : Struggling to pay tax – What should you do? Thursday 15 December 2022.

tax return 52

tax return Tax Government 52

Inform Accounting

APRIL 11, 2023

The Energy and Trade Intensive Industries (ETII) discount will provide a higher level of support to businesses and organisations in eligible sectors – you will need to register to get this support. Most eligible non-domestic customers receiving the baseline discount should expect to see it in their May bill.

tax return 52

tax return Government Tax 52

Inform Accounting

JULY 18, 2023

From 6 April 2024, all unincorporated businesses will be taxed on their profit or loss arising in the tax year, regardless of their accounting end date. At Inform we work with a number of key partners to ensure our advice on personal wealth planning and tax is backed up by years of expertise. We're here to help.

tax return 52

tax return Tax Government Account 52

Inform Accounting

FEBRUARY 6, 2023

Employers should be aware that all minimum wage rates increase on 1 April of each year. See: National Minimum Wage and National Living Wage rates Read more of Inform's tax blogs : Struggling to pay tax – What should you do? National Minimum Wage (18-20 years old) £6.83 £7.49

tax return 52

tax return Tax Government payroll 52

Inform Accounting

APRIL 4, 2023

See: HMRC late payment interest rates to be revised after Bank of England increases base rate Read more of Inform's tax blogs : Struggling to pay tax – What should you do? HMRC interest rates are set in legislation and are linked to the Bank of England base rate.

tax return 52

tax return Tax Government 52

Inform Accounting

MARCH 22, 2023

See: Government and Bank of England facilitate sale of Silicon Valley Bank Read more of Inform's tax blogs : Struggling to pay tax – What should you do? Silicon Valley Bank (UK) Ltd (SVB UK) was sold last week to HSBC for a symbolic £1.

Government 52

Government Sales tax return Tax 52

Inform Accounting

JANUARY 9, 2023

Read more of Inform's tax blogs : Struggling to pay tax – What should you do? Remember to declare COVID-19 grants on your tax return. Taxing cryptoassets: what you need to know. Launched in April 2021, the scheme has already helped over 24,000 households.

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Government tax return Tax 52

Inform Accounting

DECEMBER 6, 2022

HMRC is reminding taxpayers that they must declare COVID-19 payments in their tax return for the 2021 to 2022 tax year. These grants are taxable and should be declared on tax returns for the 2021 to 2022 tax year before the deadline on 31 January 2023. Remember to declare COVID-19 grants on your tax return.

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tax return Tax Government 52

Inform Accounting

NOVEMBER 24, 2022

You can either use up these stamps before the deadline or swap them for the new barcoded ones. The stamps that are changing are the stamps that will be very familiar to you. Read more of Inform's tax blogs : Struggling to pay tax – What should you do?

tax return 52

tax return Tax Government 52

Inform Accounting

JANUARY 30, 2023

The cash for means-tested benefits claimants, including those on Universal Credit, Pension Credit and tax credits, starts in Spring and will go direct to bank accounts in three payments over the course of the financial year.

tax return 52

tax return Government Tax Account 52

Inform Accounting

MARCH 15, 2023

In short, a P11D form allows you to inform HMRC of any benefits you’ve given to employees outside of payroll, so that the correct tax can be paid by your employees. In this blog we take a deeper dive into P11Ds, when they might arise, and what you need to do as a result. Why do you have a P11D?

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payroll Tax tax return Legal 52

Inform Accounting

AUGUST 4, 2022

Read more of Inform's tax blogs : Struggling to pay tax – What should you do? Remember to declare COVID-19 grants on your tax return. Taxing cryptoassets: what you need to know. Read more on the Bank of England Website here: [link].

tax return 52

tax return Tax Government 52

Inform Accounting

APRIL 11, 2023

There are tax deductible costs that can be claimed through your limited company for motor vehicle and travel expenses, though these are often misunderstood. There are tax deductible costs that can be claimed through your limited company for motor vehicle and travel expenses, though these are often misunderstood.

tax return 52

tax return Tax accounting software Government 52

Inform Accounting

NOVEMBER 24, 2022

If your business submits its return late (which also applies if you submit a nil or repayment return late), you could face penalty points and a?£200 Read more of Inform's tax blogs : Struggling to pay tax – What should you do? Taxing cryptoassets: what you need to know.

tax return 52

tax return Tax Start-ups Government 52

Inform Accounting

JANUARY 23, 2023

See: Far-reaching ban on single-use plastics in England - GOV.UK (www.gov.uk) Read more of Inform's tax blogs : Struggling to pay tax – What should you do? This ban will be introduced from October 2023, allowing businesses time to prepare. According to estimates, England uses 2.7

tax return 52

tax return Hospitality Tax Government 52

Xero

JUNE 7, 2022

Whether you’re a sole trader, side-hustler or freelancer, understanding deductions to super and taxes – on top of running your own show – is enough to make anyone’s head spin. Take our word for it; a trusted accountant or bookkeeper will become your best friend at tax time. The best way to do this? Don’t forget to tax plan .

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bookkeeping tax planning Tax accounting software 105

Inform Accounting

AUGUST 9, 2023

If you have a spare room in your home, you may consider letting it out to raise some much-needed cash to help meet rising living costs. If you do decide to do this, the rent-a-room scheme means that you may be able to enjoy the associated rental income tax-free. This can be done in your tax return.

Tax 52

Tax tax return income tax Government 52

Mark Lee

MARCH 5, 2024

Do you ever struggle to make a lasting impression beyond the generic label of being ‘just another accountant’? Non-accountants may see bookkeeping, accounts, finance and tax returns as boring activities. What can you say about what you do beyond the fact that you’re an accountant?

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Non-Profits bookkeeping tax return accounting and finance 52

Inform Accounting

NOVEMBER 14, 2022

If you own a property which is let out, HMRC may contact you with a "nudge letter'', if they believe you have not declared the full rental income on your Tax Returns. As most landlords take the maximum deposit, it is not difficult for HMRC to calculate the expected rental income, which should be included in a tax return.

tax return 52

tax return Tax Government 52

Inform Accounting

FEBRUARY 20, 2023

If you are planning to claim the UK state pension you should check your national insurance (NI) record before 5 April 2023. We recommend you take financial advice when making that decision as, amongst other factors, it requires predicting what contributions will be made before state retirement.

tax return 52

tax return Tax Start-ups Government 52

Inform Accounting

APRIL 19, 2023

Like many other taxes, inheritance tax (or IHT) allowances have been frozen. But it actually means that we are paying more in the long run. Data from HMRC has revealed that Inheritance tax collected between April 2022 and February 2023 totalled £6.4bn, which is £900m higher than the same period last year.

Tax 52

Tax income tax tax return Government 52

ThomsonReuters

JUNE 15, 2022

The foundation of a successful tax practice rests on the technical knowledge of your people. While you can create a modern firm with automated processes and expansive service offerings, your clients won’t keep coming back if your team isn’t up to speed with the most recent tax law changes.

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Tax Technology audit tax preparation 98

Inform Accounting

JUNE 27, 2022

Following the increase in the Bank of England base rate to 1.25% earlier this week, HMRC has confirmed that it will raise interest rates on late tax bills by a further 0.25%. The corporation tax pay and file rate also increases to 3.75%. Read more of Inform's tax blogs : Struggling to pay tax – What should you do?

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Tax corporation tax income tax tax return 52

Inform Accounting

DECEMBER 12, 2022

This is a timely reminder that employers may make small tax-free gifts to employees and directors if all of the following conditions apply: The cost to the employer is £50 or less. Employers do not need to pay tax or National Insurance or let HMRC know, however, they need to keep a record of the gifts should HMRC request the details.

Tax 52

Tax tax return Government Retail 52

Inform Accounting

JANUARY 10, 2023

Topping up is not the right answer for everyone, and people should always check with DWP (and their financial adviser, if they have one) before taking any action. If you are thinking of topping up your state pension for these earlier years, you must check with the Future Pension Centre at DWP before making such contributions.

tax return 52

tax return Tax Government 52

Snyder

OCTOBER 31, 2022

You may want to start a new career or may consider starting an e-commerce store as a possibility of additional income. In this article, we’ll answer all your questions so you can have a better picture of what it’s like — to start your own small business with Shopify. How to add a blog to your Shopify store?

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E-commerce Start-ups Tax Sales 97

Inform Accounting

NOVEMBER 28, 2022

With all of the U-turns on tax policy in the last couple of months, businesses may be confused about what changes are going ahead and which ones have been scrapped by the new chancellor. If the end-user organisation is also the fee-payer, they will need to deduct and pay Income Tax and National Insurance contributions to HMRC.

payroll 52

payroll income tax tax return Tax 52

Inform Accounting

MAY 31, 2022

Remember that provided any private fuel is fully reimbursed the employee will not be taxed on the fuel benefit and there is no class 1A employers NIC. Where the employer does not pay for any fuel for the company car these are the amounts that can be reimbursed in respect of business journeys from 1 June 2022. Engine Size. Over 2000cc.

tax return 52

tax return Tax Government 52

Mark Lee

MAY 16, 2023

One of the topics that often comes up is the challenge of prioritising anything (non-billable) you might think you want to do when there is client work that could be done. Certainly, some of the accountants I work with tell me that they struggle to make time to prioritise developing, building and promoting their practice.

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Account accountant accounted bookkeeping 87

Inform Accounting

MARCH 15, 2023

What we did find out yesterday is that UK PLC is in a better position than feared. Increasing the pensions lifetime allowance from £1.07m to £2m Increasing the amount people can pay into a pension tax free, i.e. from £40k per year to £60k per year. Sadly, this tax rise and all its complications still take effect.

Non-Profits 52

Non-Profits Tax tax return corporation tax 52

Inform Accounting

MARCH 7, 2023

The new penalties will impact businesses who submit their VAT returns or pay their VAT late. Late payment penalties If a VAT payment is more than 15 days overdue, businesses will pay a first late payment penalty. Payment plans HMRC will help businesses that cannot pay their VAT bill in full.

tax return 52

tax return Tax Start-ups Government 52

ThomsonReuters

JUNE 16, 2023

Many of today’s tax and accounting practices are struggling with strained firm capabilities. This was followed by: Work/life balance ( 34 percent) Managing burnout (31 percent) Economic uncertainty (24 percent) The question then becomes, how do firms manage strained firm capabilities? What is firm capability?

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accounting firms Account accountant accounted 98

Inform Accounting

JUNE 23, 2022

We previously notified agents that we have paused some Research & Development Tax Credit (RDTC) payments while we investigate an increase in irregular claims. For the vast majority of claims, we will aim to either pay the payable tax credit or contact you regarding the claim within 40 days. Message from HMRC.

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Tax tax return corporation tax online accounting 52

Inform Accounting

AUGUST 30, 2022

If you own property there are a number of tax implications which you need to be aware of. Timing of Capital Gains Tax Reporting. How the gain is calculated is dependent on whether you are a UK tax Resident or not - this is outside the scope of this Blog. Timing of Capital Gains Tax Reporting.

tax return 52

tax return Tax Maine Sales 52

Inform Accounting

JUNE 27, 2023

To do this, they must meet all submissions in their compliance period, which is 24 months for businesses filing annual VAT returns, 12 months for businesses filing quarterly returns and 6 months for businesses filing monthly returns. Please talk to us about any tax related questions you may have and if you’re in need of a financial adviser.

tax return 52

tax return Tax Start-ups Government 52

Inform Accounting

JANUARY 9, 2023

The mandatory use of software for Making Tax Digital for Income Tax Self-Assessment is being phased in from April 2026. Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA) was due to be phased in from April 2024. At the end of the year, they can add any non-business information and finalise their tax affairs.

income tax 52

income tax Tax tax return Government 52

Inform Accounting

JULY 4, 2022

As companies struggle to find the talent they need, now is the time to invest in new and more strategic approaches to developing an early talent pipeline. There is a free government scheme (outlined below), although you may have your own business costs. You work with a training provider to design what is included in the programme.

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tax return Construction Government Education 52