by A&S Admin | May 18, 2022 | Talking points
Unincorporated businesses – including sole traders, trusts and those businesses working as partnerships, and anyone else that pays tax on trading income – face a major change that will affect the way and the time they are taxed on their profits. The so-called... 
by A&S Admin | May 4, 2022 | Budget bytes, Talking points
The Bank of England (BoE) base rate rose to 0.75% in March in response to Consumer Prices Index (CPI) inflation rising to 5.5% – almost triple the BoE’s target of 2%. Inflation is set to continue rising throughout the year (see Spring Statement round-up) with... 
by A&S Admin | Apr 27, 2022 | Talking points
You may have already noticed when you are buying things online that you are now being asked to confirm your purchase in more than one way to improve security, and this is the result of the new Strong Customer Authentication (SCA) regulations which came into effect on... 
by A&S Admin | Jan 11, 2022 | Budget bytes, Business Tips, Making Tax Digital, Starting out in business, Talking points, Tax Tips
Payments on account are advance payments towards your tax and, where relevant, your Class 4 National Insurance bill. You may need to make them if you are self-employed or if you are a landlord. You may also need to make them if you operate your business through a... 
by A&S Admin | Dec 14, 2021 | Making Tax Digital, Talking points, Tax Tips
Making Tax Digital (MTD) is a Government initiative that aims to provide the UK with one of the most digitally advanced tax administrations in the world. Under MTD, taxpayers are required to keep electronic records and report to HMRC digitally. MTD is being... 
by A&S Admin | Nov 29, 2021 | Budget bytes, Talking points, Tax Tips
The Annual Investment Allowance (AIA) is a capital allowance that enables you to claim an immediate deduction against your profits for qualifying capital expenditure up to the available limit. The AIA limit was temporarily increased from £200,000 to £1 million from 1...