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Importance of a Business Savings Account – 29/04/2022

Smart businesses maintain a savings account as a part of the business holdings – the world of business is an unpredictable one, so it is inevitable that all businesses will...

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Soar in First-Time Buyer Deposits – 28/04/2022

Over the past decade, the average deposit put down by a first-time buyer has soared by more than 50% with the typical person putting down an average of £45,569 when...

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Spring Housing Market – Faster and More Expensive

The UK Spring Housing Market continues to defy records with the most expensive and fastest moving market in a long while – according to property giant Rightmove, houses in the...

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National Minimum Wage from 01 April 2022

From 01 April 2022, the National Minimum Wage is increasing to the following rates: Aged 23+ = £9.50 Aged 21-22 = £9.18 Aged 18-20 = £6.83 Aged 16-17 = £4.81...

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Reclaiming VAT from Before Registration – 02/04/2022

Businesses must register for VAT if their VAT taxable turnover goes over the threshold, which is currently £85,000. However, you can also register voluntarily. There is a time limit if...

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Employment Allowance Increase – 02/04/2022

Employment Allowance allows eligible employers to reduce their annual National Insurance liability – under the scheme, you would pay less employers’ Class 1 NI each time you run your payroll...

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Increase to National Insurance Threshold – 01/04/2022

Rishi Sunak announced in the Spring Statement on Wednesday 23 March 2022 that the government would be increasing the National Insurance threshold (the amount of income earned before you start...

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Plastic Packaging Tax comes into Effect – 01/04/2022

The Plastic Packaging Tax is a tax on plastic packaging manufactured in or imported to the UK, where the amount used in its manufacture costs less than 30% recycled plastic....

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Employment Allowance: Tax Relief on National Insurance – 10/03/2022

Employment Allowance allows eligible employers to reduce their annual National Insurance liability by up to £4,000. Under the scheme, you would pay less employers’ Class 1 NI each time you...

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Post-Brexit Limit on Stays In EU – 10/03/2022

After Brexit, Brits now have a limit on stays in the Schengen Area, an area comprising 26 European countries that allow free movement with no border controls. These countries are:...

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Energy Performance Certificates – 10/03/2022

When selling a house or flat, you must have an Energy Performance Certificate (EPC) which confirms how energy-efficient your property is. Your property’s EPC needs to be available to potential...

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Changes to Inheritance Tax – 10/03/2022

The rules surrounding ‘excepted estates’ have changed for anyone who dies on or after 01 January 2022. Estates classed as being ‘excepted’ may not require heirs to report the estate’s...

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Financial Hardship Fund Extended – 31/01/2022

Help Musicians is extending the Coronavirus Financial Hardship Fund into 2022 after receiving £650k of hardship funding from ACE and DCMS. For those eligible, Help Musicians will offer a one-off payment...

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Government closes Tax Loophole – 31/01/2022

New, tougher measures announced by the Government on 14/01/2022 will target owners of second homes who take advantage of the system to avoid paying council tax and access small business...

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Cashflow Forecasting and Property – 31/01/2022

Why having a cashflow forecast is imperative for your property business Whether you are taking the first plunge into the world of property or you already have an established portfolio,...

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New Year Demand for Property – 28/01/2022

The demand for property increased by 49% in January 2022 according to property giant Zoopla – which is the largest New Year increase in 5 years. This demand was for...

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Free Courses with Harlow College – 28/01/2022

Harlow College is offering free online Level 2 Courses for a broad range of subjects to assist with professional or personal development. The courses typically take 6-10 weeks to complete....

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Omicron Hospitality and Leisure Grant – 28/01/2022

The Omicron Hospitality and Leisure Grant provides local councils with one-off grant funding to support hospitality, leisure and accommodation businesses amid the rise of the Omicron variant. To be eligible...

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How should I pay myself as a Director? – 21/01/2022

There are a few different ways to be paid as a company director for example by putting yourself on payroll or paying yourself through dividends. Dividends are paid to shareholders...

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Do It Differently Fund – 15/12/2021

Help Musicians – Do It Differently Fund The Do It Differently Fund by Help Musicians has developed a fund for musicians to focus on their creative portfolio, their business development...

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Funding and Grant Opportunities – 14/12/2021

The Prince’s Trust – Enterprise Programme The Prince’s Trust are working with the Start Up Loans Company to offer low-interest personal loans for business purposes between £500 and £25,000 at...

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Forty-Year Mortgage Deal – 13/12/2021

UK specialist Mortgage Lender Kensington Mortgages has introduced a 40-year, fixed rate mortgage deal which will allow aspiring homebuyers to borrow more money than from a standard deal. It allows...

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Recording Sales and Expenses – 08/12/2021

How to record your Sales and Expenses for your Business Owning and running a business is a challenging feat in itself but the financial management side is a complex and...

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Tax Relief on Staff Gifts – 01/12/2021

As the holiday season approaches, it is important to remember HMRC’s rules which apply to staff gifts and celebrations! To be exempt from reporting a party/social function from HMRC, it...

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Andrea L Richards wins Entrepreneur of the Year – 30/11/2021

Congratulations to our Director Andrea L Richards for winning Entrepreneur of the Year at The Baton Awards! Andrea has said: “I’ve won my second award for 2021 – Entrepreneur of...

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The Prince’s Trust – Enterprise Programme 16/11/2021

The Prince’s Trust – Enterprise Programme for starting your own business The Prince’s Trust are working with the Start Up Loans Company to offer low-interest personal loans for business purposes...

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Business Recovery Loan Scheme Extended – 16/11/2021

The Business Recovery Loan Scheme has been extended until 30 June 2022. It was announced in the Autumn Budget that the Recovery Loan Scheme – originally expected to close on...

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Finalist for Entrepreneur of the Year – 16/11/2021

Congratulations to our Director Andrea L Richards for reaching the finals of Entrepreneur of the Year at the Baton Awards. The Baton Awards celebrates women from a diverse racial group...

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Allowable Expenses for YouTubers – 29/10/2021

As a Youtuber, Blogger or Content Creator, you are able to claim the following the expenses on your Tax Return: -Marketing costs e.g.: online adverts -Equipment e.g.: cameras, laptops, special...

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Residential Property Developers Tax – 29/10/2021

During the Autumn budget on Wednesday 27 October 2021, Chancellor Rishi Sunak confirmed the rate of the Residential Property Developer Tax – this measure will introduce a new tax on...

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Rental Property Hotspots – 29/10/2021

According to Real Estate Giants Rightmove, the demand for rental homes outside of London has risen by roughly 70% compared to October 2020: Take a look below at the Top...

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Extension to Apprentice Incentives – 29/10/2021

On October 04 2021, Rishi Sunak announced that the incentive payments to employers for hiring an apprentice will be extended until 30 November 2021. The incentive scheme offers a payment of...

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National Minimum Wage Increase – 26/10/2021

From April 2022, the National Living Wage for workers aged 23+ will be rising by 6.6%  to £9.50 – the Ministers have accepted the Low Pay Commission’s recommendation to increase...

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Accounts Navigator Associates wins Best Businesswomen Awards 2021

The Best Businesswomen Awards have announced their winners for 2021 at a Gala Final held at the Hilton Wembley. Businesswoman Andrea L Richards from Accounts Navigator Associates Limited won Gold...

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Minimising Tax for Entertainers: Case Study – 04/10/2021

Having been in the industry since 1991, me and my team of experts have helped over 1000 actors, musicians, content creators and entertainers minimise tax and maximise cashflow so you...

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Stamp Duty returning to Normal Rate – 30/09/2021

On October 01 2021, the Stamp Duty Land Tax threshold will return to the usual threshold of £125,000 from the rate of £250,000 from 01 July 2021 to 30 September...

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UK House Prices at Record High – 30/09/2021

UK House Prices have hit a record high of £235,000 as the time at which sales are agreed reach their fastest pace for 5 years. The average home in the...

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Importance of Team Building – 30/09/2021

Here at Accounts Navigator, we are always looking for new team building activities to complete together. From Ninja Warrior to staff lunches to office trips, we place a high value...

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Importance of Management Accounts – 29/09/2021

Importance of management accounts Understanding your finances is imperative for any businessowner or sole trader – reviewing your accounts annually may seem like a time-saving solution and may give you...

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Rise in National Insurance – 29/09/2021

Boris Johnson confirmed a rise in National Insurance for Health and Social Care. You pay mandatory National Insurance if you’re 16 or over and are either: An employee earning above...

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Managing Admin in Construction – 29/09/2021

The admin side of running a business and completing work is a tedious and begrudging task for any businessowner, but for those in the Construction Industry, the task can seem...

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Should I register for CIS? – 29/09/2021

Under CIS (Construction Industry Scheme), contractors deduct money from payments to a subcontractor and pass it on to HMRC. These deductions count as advance payments towards the subcontractor’s tax and...

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Tax Relief for Work Vehicle- 28/09/2021

If you use your own vehicle for work, you may be able to claim tax relief on the approved mileage rate, which covers the cost of owning and running your...

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Fuel Shortage Crisis – 28/09/2021

Over the past week, drivers across the UK have struggled to fill up their tanks with petrol or diesel as a shortage in drivers to supply fuel has led to...

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Initiative by Talentview Construction – 27/09/2021

Launching on 21 September 2021, Talentview Construction (TVC) is an early careers initiative supported by the Government and the Construction Leadership Council as well as funded by the industry CITB...

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Rent Rise outside London – 27/09/2021

UK Rent outside of London is increasing at their fastest rate since 2008. According to Zoopla’s Rental Market Report, the typical price of renting a home in the UK –...

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Plastic Packaging Tax – 27/09/2021

The Plastic Packaging Tax will be a tax on plastic packaging manufactured in or imported to the UK, where the amount used in its manufacture costs less than 30% recycled...

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Our YouTube Channel – 22/09/2021

Our YouTube Channel! We have some exciting news – here at Accounts Navigator, we have finally launched our YouTube Channel, with our first video “An Introduction to Accounts Navigator Associates”...

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Accounts Navigator Team Building – 31/08/2021

The Accounts Navigator Team took a Team Building trip to Manchester over the Bank Holiday Weekend to work on our communication and cooperation skills. Here at Accounts Navigator, we place...

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Finalist in Best Boss category! – 24/08/2021

Best Business Women Awards 2021 Finalists announced. The Best Business Women Awards have announced their finalists for 2021 and this is an amazing line up of incredible business women from...

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HMO Properties – 01/09/2021

HMO stands for House in Multiple Occupation and is defined as a property which has 3 or more people from more than 1 household living there who share kitchen, bathroom...

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Furlough Scheme ending September – 01/09/2021

The Coronavirus Job Retention Scheme (CJRS), otherwise known as the Furlough scheme, is coming to an end on 30 September 2021. For claims relating to August and September 2021, the...

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MTD for Income Tax – 01/09/2021

Self-employed businesses and landlords with annual business or property income above £10,000 will need to follow the rules for MTD for Income Tax from their next accounting period starting on...

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SEISS Grant ending in September – 01/09/2021

Applications for the fifth and final SEISS grant close on Thursday 30th September 2021. In order to claim the 5th SEISS Grant, you must tell HMRC about your turnover if...

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SEISS 5th Grant Eligibility – 21/07/2021

The fifth SEISS Grant will cover May 2021 to September 2021. To be eligible, you must be a self-employed individual or a member of a partnership. You must have traded...

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Changes to UK Eviction Rules – 15/07/2021

The existing rules in place designed to protect commercial tenants from eviction have been extended until 25 March 2022. Businesses that have had to remain closed during the pandemic and...

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Changes to CJRS from August – 14/07/2021

From 01 August 2021, the level of the grant will be reduced and employers will be asked to contribute more towards furloughed employees’ wages. Employers will now be required to...

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Qualifying as Self-Employed – 21/06/2021

As an individual working in the Entertainment Sector, knowing your tax obligations and when these begin to effect you can be a daunting and difficult task – understanding the criteria...

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Top UK Areas for House Price Growth – 23/06/2021

A research study has shown that 9/10 locations that have seen the biggest increase in prices over the past decade are in London. The Top UK areas for 10-year house...

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Video Production and Expenses – 22/06/2021

Knowing what expenses can be claimed with regards to content creation and video production can be confusing but Accounts Navigator is here to make it simple. Many video producers and...

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SEISS 5th Grant – 22/06/2021

A fifth grant covering May 2021 to September 2021 will be open to claims from late July. To be eligible for this grant, you must be a self-employed individual or...

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Arts Council Funding – 21/06/2021

Here at Accounts Navigator, we are constantly looking out for grants/funds that could help our clients recover from the effects of the COVID-19 Pandemic. Arts Council England, awarding funds from...

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Working from Home Expenses – 22/06/2021

It is highly common for entertainers and creatives to work from home when creating content and/or rehearsing, so it’s important to know that you could be claiming a proportion of...

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Creating Catchy Content – 23/06/2021

Here at Accounts Navigator, we are constantly looking for ways to improve our content and make it more valuable for our clients. Over the years, we have learned some key...

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First Homes Scheme – 21/06/2021

The First Homes Scheme was designed by the UK Government to help local first-time buyers and key workers onto the property ladder by offering homes at a discount of 30%...

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Help to Grow Scheme – 23/06/2021

The UK Government’s Help to Grow Programme will help small and medium sized businesses learn new skills, reach new customers and boost profits. Through the programme, you could get: •...

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Poor Documentation – 22/06/2021

Those in the Construction Sector work long and difficult hours so finding the time to sort through documentation seems like a low priority. However, this does not have to be...

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Small Grants Programme – 18/06/2021

Theatre Trust’s Small Grants Programme funds small projects that make a big impact to a theatre’s resilience, sustainability, or accessibility. This scheme provides grants of up to £5,000 for essential...

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Capital Gains Tax: Key Info – 21/06/2021

Capital Gains Tax (CGT) is a tax on the profit when you sell (or ‘dispose of’*) an asset that has increased in value – it is important to note that...

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Changes to CJRS from July – 28/05/2021

Changes to the Coronavirus Job Retention Scheme (CJRS), otherwise known as the Furlough scheme, will come into effect on Thursday 01 July 2021. From 01 July 2021, the level of...

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Recordkeeping for your Ltd Company – 25/05/2021

Recordkeeping for your Limited Company is imperative, not only for organisation and efficiency, but for tax and legal reasons. When running a Limited Company, you must keep records about the...

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Recovery Loan Scheme – 25/05/2021

The Recovery Loan Scheme (RLS) allows businesses to apply for a loan of between £25,000 and £10million. The loans are 80% backed by the government, giving guarantee to lenders if...

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Abuse of Insolvency Rules – 25/05/2021

Small business owners who abuse insolvency procedures to avoid repaying COVID debt could be banned from being company directors for 15 years. Dissolution via strike-off or voluntary liquidation is only...

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Back to Office Transition – 06/05/2021

The transition from working remotely to returning to your place of work can feel difficult especially as the world begins to return to normality (somewhat). We have outlined 3 key...

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Busy Year for UK Property – 26/05/2021

Busy year expected for the property market as new data reveals that more home sales are expected in 2021 than in 2007 when the market last peaked. Zoopla has revealed...

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Fines for Abuse of SEISS – 07/05/2021

Fines and penalties for abuse of the 4th SEISS have confirmed by HMRC as more and more applications are submitted. The 4th SEISS Grant was made available to claim from...

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What is a chartered accountant

A chartered accountant is someone who has received their accounting certification from the Institute of Chartered Accountants or the Association of Chartered Certified Accountants. Compared to regular accountants, they tend...

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VAT and Property – 27/04/2021

Common questions within the property sector that are often left with confusing answers usually surround VAT. The rules surrounding it are that if your total VAT taxable turnover for the...

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CJRS and May Eligibility – 27/04/2021

In the March 2021 Budget, Rishi Sunak announced that the Coronavirus Job Retention Scheme (Furlough) would be extended until September 2021. Currently, the government covers up to 80% of an...

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SME Brexit Support Fund – 26/04/2021

The SME Brexit Support Fund could give businesses up to £2,000 to help with training or professional advice, if you’re business has up to 500 employees and no more than...

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Spring Surge in House Prices – 26/04/2021

A spring surge in house sales and property prices has been recorded amid government schemes aimed at supporting housing market. Data from HMRC shows that UK property transactions in March...

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SEISS 4th Grant – 23/04/2021

The 4th SEISS Grant is available to claim from 22 April 2021. The 4th SEISS Grant is available to claim from 22 April 2021 and will cover 01 February 2021...

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Changes to Off-Payroll Working – 23/04/2021

Changes to Off-Payroll Working (IR35) have come into effect from 06 April 2021. These changes were due to come into effect on 06 April 2020 but were delayed until 2021...

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National Skills Fund – 06/04/2021

The Government is investing £2.5billion in the National Skills Fund, which will help adults gain the valuable skills they need to improve their job prospects. Any adult aged 24 and...

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Self-Assessment Tax Return for Year Ended 05 April 2021

The 2020/2021 self-assessment tax year has ended on 05 April 2021 which means that you are able to file your tax return with HMRC. We advise that you file as...

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New Coronavirus Rules – 06/04/2021

The UK will be entering the second stage of its easing of Coronavirus restrictions, with new rules coming into effect on Monday 12 April 2021. From this date, more businesses...

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National Minimum Wage Increase – 01/04/2021

As of 01 April 2021, the National Minimum Wage has increased. All employees – as a minimum – should be paid these rates:              ...

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Coronavirus Restart Grants – 01/04/2021

The Coronavirus Restart Grants are available from 01 April 2021. The Coronavirus Restart Grant scheme supports businesses in the non-essential retail, hospitality, leisure, personal care, and accommodation sectors in reopening...

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London House Prices – Lowest Rise – 06/04/2021

According to Nationwide, the rate of annual house price growth slowed to 5.7% in March from 6.9% in February, making the average UK House Price roughly £232,000. Their figures show...

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Incentives for Hiring Apprentices – 26/03/2021

Last August, Rishi Sunak introduced Apprenticeship Financial Incentives which offered firms £2,000 to take on apprentices aged 16-24, while those that employ apprentices aged 25+ are paid £1,500. In the...

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Landlords and Electrical Safety – 31/03/2021

Landlords will now be required to have the electrical installations in their properties inspected and tested by a qualified individual and provide an electrical safety certificate for all private rented...

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Adding Value to your Home – 16/03/2021

Any homeowner will know that the cost of renovating and decorating a house is expensive. Knowing what changes are worth investing in can be difficult, but we have outlined 5...

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Musicians’ Allowable Expenses – 16/03/2021

Musicians may struggle to be aware of the Allowable Expenses you are entitled to, so we have outlined a few for you here. Trying to transform your hobby into a...

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Balancing Day Job and Artisan Business – 17/03/2021

While it is a common way for Artisans to start their businesses, it is by no means easy, which is why we have outlined 3 key tips for balancing your...

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Arts Sector £400m Investment – 15/03/2021

During the Spring 2021 Budget, Rishi Sunak pledged £408m to support the arts sector, aiming to help museums, theatres and galleries to reopen when Coronavirus Restrictions ease. £300m of this...

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Super-Deduction – 15/03/2021

From 01 April 2021 to 31 March 2023, companies can claim 130% capital allowances in qualifying plant and machinery investments. The super-deduction will allow companies to cut their tax bill...

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HMRC Interest in Entertainers – 17/03/2021

HMRC are greatly interested in the entertainment industry for a multitude of reasons: The constant income fluctuation Being an employee, self-employed or a combination High profile media attention Declarations of...

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Mortgage Guarantee Scheme – 15/03/2021

During the 2021 Budget, the Chancellor announced a Mortgage Guarantee Scheme, which will help people with small deposits get on the property ladder. The scheme will increase the availability of...

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Tax Advice for Craftspeople – 17/03/2021

Craftspeople looking to turn their hobby into a business can struggle to understand their tax obligations or what allowable expenses they are allowed to claim. So, we have outlined the...

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Furlough Scheme Extended – 03/03/2021

The Furlough Scheme has been extended until the end of September 2021, Rishi Sunak announced in the 2021 Budget. Currently, the government covers up to 80% of an employee’s salary...

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Allowable Expenses Construction Workers can Claim – 16/03/2021

Knowing the allowable expenses that you are entitled to claim as a construction worker can be vague or confusing, so we have made it simple: Allowable Expenses Construction Workers Can...

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Green Home Grants Scheme – 15/03/2021

If you are a homeowner or residential landlord, you can apply for a Green Homes Grant voucher towards the cost of installing energy efficient improvements to your home. The voucher...

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Stamp Duty Holiday Extension – 15/03/2021

Initially introduced in July 2020, the Stamp Duty Holiday meant that if you are buying a home up to the value of £500,000 you will not pay any stamp duty....

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VAT Deferral New Payment Scheme – 22/02/2021

If you deferred VAT payments due between 20 March and 30 June 2020 and still have payments to make you can: Pay the deferred VAT in full, on or before...

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VAT Margin Scheme – 22/02/2021

The VAT Margin Scheme taxes the difference between what you paid for an item and what you sold it for – rather than the full selling price. You pay VAT...

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Managing Seasonal Cashflow – 22/02/2021

Business in the construction industry and their success can be affected by factors that other businesses wouldn’t even consider. Weather, materials, working conditions – all of these can have an...

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House Prices in UK Rise by 8.5% – 22/02/2021

UK house prices rose by 8.5% during 2020 – the highest annual growth rate since October 2014. The average UK house price reached a record high of £252,000 in December...

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BTL Mortgages: Interest-Only vs Repayment -16/02/2021

Generally, the minimum deposit for a buy-to-let (BTL) mortgage is usually 20-40% of the property’s value. Most BTL mortgages are interest-only, which means that landlords only pay monthly interest payments,...

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Allowable Expenses Writers can Claim – 15/02/2021

Knowing what Allowable Expenses you are entitled to claim as a writer can be confusing, but we have made it simple! The amount of confusion and uncertainty that comes with...

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Bounce Back Loan Repayment – 29/01/2021

The Bounce Back Loan Scheme (BBLS) allows you to borrow between £2,000 and £50,000, capped at 25% of your total turnover until 31 March 2021. No interest will be charged,...

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New Coronavirus Lockdown Grant – 27/01/2021

Chancellor Rishi Sunak has announced another Lockdown Grant Boris Johnson announced a nationwide lockdown after a rise in Coronavirus cases. The are one-off top-up grants for retail, hospitality, and leisure...

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No Self-Assessment Late Filing Penalty – 27/01/2021

Self-Assessment customers will not receive a penalty for their late online tax return if they file by Sunday 28 February 2021. It is important to remember that taxpayers are still...

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Property Prices Expected To Plummet – 27/01/2021

Britain’s biggest mortgage lender Halifax has said that the economic fallout caused by the Coronavirus Pandemic will catch up with the property market in 2021, with Property Prices expected to...

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Small Businesses and Preparing for 2021 – 27/01/2021

There is no denying the difficulties that have hit the business world during 2020 – particularly small businesses. Knowing how to grow from a gruelling year is imperative to continuing...

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Theatre and Entertainment: Financial Support – 27/01/2021

Theatre and Entertainment Professionals and the Hospitality sector have been struggling and relying on government finance schemes to remain afloat after multiple nationwide lockdowns. Throughout the course of the pandemic,...

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Business with the EU – 21/12/2020

With the long-awaited Brexit departure fast approaching, businesses are being urged to take the necessary measures to ensure they comply with the new rules regarding business with and within the...

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Property Prices: Largest 5-month Gain – 21/12/2020

Property Prices in the UK have seen an average of more than £15,000 added to their value since June – the largest 5-Month gain since 2004, according to a report...

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The Construction Playbook – 21/12/2020

The Construction Playbook outlines how the government will work with the construction sector to ensure a faster, better and greener delivery of public works. Launched on 08 December 2020, the...

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Filing your Tax Return for Actors – 21/12/2020

Actors working in the Entertainment Industry comes with a highly unique set of circumstances, whether that is having more than one source of income, working inconsistent and unsociable hours or...

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Business Evictions Ban Extended – 21/12/2020

On 09 December 2020, it was announced that the Business Evictions Ban will be extended so business owners affected by the Coronavirus Pandemic will be protected from evictions until the...

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Using Receipt Bank – 09/12/2020

Here at Accounts Navigator Associates (ANA), we believe in maximum efficiency which is why we strongly advise all our clients to use Receipt Bank to make submitting your receipts and...

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VAT Deferral New Payment Scheme – 24/11/2020

Businesses who deferred VAT due from 20 March to 30 June 2020 will now have the option to pay in smaller payments over a longer period – business can now...

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Construction Industry Scheme (CIS) – 24/11/2020

The Construction Industry Scheme (CIS) is a tax deduction scheme which allows contractors to deduct money from a subcontractor’s payments and pass it to HMRC, which count as advance payments...

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Handling COVID Stress as an Employer – 24/11/2020

The Coronavirus Pandemic and the lockdowns that have occurred as a result have put immense pressure on the general public, particularly on small businesses. Whether you are continuing to work...

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HMRC Scam Emails and Calls – 24/11/2020

With the Self-Assessment Tax Return deadline approaching on 31 January 2021, HMRC is warning customers completing these returns to take care in avoiding scams. Phishing is a cybercrime in which...

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Where Homes Sell the Fastest – 24/11/2020

Zoopla has analysed data in order to find the locations in Britain where homes sell most quickly. According to their House Prices Index, UK Property Sales Pipeline is 50% bigger...

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Furlough Scheme Extension – 24/11/2020

On 05 November 2020, it was announced that the Coronavirus Job Retention Scheme (CJRS) would be extended by 5 months to the end of March 2021. Workers in the UK...

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Entertainers’ Engagement rights – 18/11/2020

Entertainers may struggle to understand the processes and legal procedures of agencies. According to the GOV.UK website, you are an entertainment agency worker if you have a contract with an...

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Allowable Expenses for Limited Companies – 18/11/2020

As a Limited Company, understanding the allowable expenses you are able to claim can help to reduce your Corporation Tax Bill. It is important to keep track of your company’s...

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Photo Documentation in Construction – Accounts Navigator Associates – 16/11/2020

Within the construction sector, reporting progress is an essential factor and comes in various forms. Photo documentation is one of the most efficient ways of field reporting and tracking. While...

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Photography Tips for Realtors – Accounts Navigator Associates – 16/11/2020

While hiring a professional photographer saves the hassle of attempting to work out the correct angles or lighting, this an expense you could save yourself by simply following a few...

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Connecting Site to Office – Accounts Navigator Associates

CONNECTING SITE TO OFFICE Good communication is vital in any sector, but particularly for getting a construction job done. With the amount of people who will be helping out on...

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Money Saving and Investment Tips for Entertainers – Accounts Navigator Associates

1. SPONSORS Getting sponsors for events will help carry the expense in exchange for some form of advertising. It is usually a good trade for both the small business hosting...

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Benefits of Royalty Audits in Music Publishing – Accounts Navigator Associates

Music Publishers play a role in the development of new music and take care of the business side of things. In return for doing this they will have a publishing...

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COVID-19 Stifling Jobs Recovery – Accounts Navigator Associates

Urban areas in Southern England have seen the biggest declines in job postings as vacancies have failed to return to pre-pandemic levels. The slow jobs recovery is linked to a...

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Businesses To Complete Customs Declarations – Accounts Navigator Associates

Businesses will need to complete customs declarations from January 2021, regardless of whether the UK agrees a free trade deal with the EU. Traders importing standard goods will need to...

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Local Restrictions Support Grant – Accounts Navigator Associates

The LSRG supports businesses that have been required to close due to temporary COVID-19 local lockdown restrictions imposed by the government. Your business may be eligible if it occupies property...

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Best Ways to Brainstorm – Accounts Navigator Associates

Thinking of creative new ideas on how to help your business progress is harder than it might seem. As soon as the creative block hits, it’s hard to overcome. Down...

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Average House Asking Prices at Record High – Accounts Navigator Navigator

The average asking price of new homes on the market in Britain has hit a record high, according to Rightmove, with estate agents listing more homes as sold than they...

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New Covid-19 Restrictions – Accounts Navigator Associates

On Friday 16th September, Boris Johnson announced new measures to tackle the rise in Covid-19 cases. So, what are these new restrictions and how will they affect you? The government have...

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Grants for Start-Ups and SME’s in London - Accounts Navigator Associates

Starting your own business is hard enough as it is, so finding schemes and grants to apply to seems like an impossible task. Here at Accounts Navigator Associates, we’ve made...

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Getting Sleep as a Business Owner – Accounts Navigator Associates

Getting a good night’s sleep while owning a business is a mutually exclusive phenomena for many - establishing a healthy and effective sleep schedule has become a luxury for business owners. Whether...

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New Covid-19 Restrictions – Accounts Navigator Associates

On Tuesday 22nd September, Boris Johnson announced new measures to tackle the rise in Covid-19 cases. So, what are these new restrictions and how will they affect you? HOSPITALITY From...

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Fall in UK Property Prices – Accounts Navigator Associates

Following a post-lockdown boom, UK house prices hit a record high, with the average home being worth around £245,000. Halifax found that – compared to the same time last year...

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Eat Out to Help Out and Inflation – Accounts Navigator Associates

The UK inflation rate fell to 0.2% in August from 1% in July as a result of the Eat Out to Help Out scheme implemented during the month of August,...

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9 Improvements to make to your Property to Increase Value – Accounts Navigator Associates

1.) PAINTING One of the best ways to showcase the potential of a property is with a fresh coat of paint. Using neutral tones throughout creates a new and fresh...

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Job Support Scheme – Accounts Navigator Associates

The Chancellor of the Exchequer Rishi Sunak unveiled the scheme that will replace the Furlough scheme, which comes to an end on the 31 October. The Job Support Scheme will...

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VAT Reverse Charge – Accounts Navigator Associates

From 01 March 2021, most supplies of building and construction services will require the domestic VAT reverse charge to be used. This charge applies to standard and reduce-rate VAT services...

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Eviction Ban Extended – Accounts Navigator Associates

The government has announced a further four-week extension to the eviction ban for tenants affected by the Coronavirus pandemic. This means that landlords in England and Wales will be banned...

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Thinking of de-registering VAT? – Accounts Navigator Associates

Due to the current climate some businesses turnover has decreased and is therefore now below the VAT registration threshold (£85,000). This means that you can essentially de-register for VAT but...

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End of Furlough – Accounts Navigator Associates

The Job Retention Scheme has been beneficial for many UK businesses during the ongoing COVID-19 pandemic. The scheme has provided short-term financial support for businesses during the UK lockdown, allowing...

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Moving Your Business Online – Accounts Navigator Associates

High Street retailers will have watched with dismay as competitors take their market share – not by businesses in their local business community – but globally, as consumers in the...

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Why do customers buy from you? – Accounts Navigator Associates

This may seem to be an odd question. They buy because you offer what they want at the right price? But is that the only consideration? For faceless organisations like...

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Making Tax Digital – Next Steps – Accounts Navigator Associates

HM Treasury has confirmed the extension of Making Tax Digital (MTD) to cover businesses with a turnover below the VAT threshold and for certain individuals who file Income Tax Self-Assessment...

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Stamp Duty Cut – Accounts Navigator Associates

Stamp duty slashed on purchases up to £500,000 The government has raised the stamp duty threshold in England and Northern Ireland to £500,000 until 31 March 2021. Previously, stamp duty...

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Changes to VAT – Accounts Navigator Associates

In an attempt to address the financial difficulties of businesses in the hospitality and tourism industries, Rishi Sunak also announced a range of VAT reductions on selected supplies for these...

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£20m in new grants for small businesses – Accounts Navigator Associates

£20 million worth of new government grants have been released to help small and medium sized businesses across England recover from the effects of the Coronavirus pandemic. These grants will...

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Support for Film and Creative Industries – Accounts Navigator Associates

A new £500 million scheme to kickstart film and television production struggling to secure insurance for COVID-related costs has been launched. This scheme will help TV and film productions that...

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£5,000 Confirmation Statement Fine – Accounts Navigator Associates

As well as filing accounts with Companies House, there is an important requirement to check that the information Companies House has about your company is correct every year. This is...

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Job Retention Bonus

One of the measures announced by the Chancellor, Rishi Sunak in his recent Summer Statement was the introduction of the Job Retention Bonus. This bonus is designed to encourage employers...

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New guidance for shop owners

The HM Government guidance titled Working safely during COVID-19 in shops and branches has been updated. The updates relate to managing product handling and returns, the test and trace service, safer travel...

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Returning to work after maternity/paternity leave

The Coronavirus Job Retention Scheme (CJRS) also known as the furlough scheme has been extended until 31 October 2020. There are a number of important changes to the way the...

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Self-employed – setting off losses

There are a number of tax reliefs available for self-employed taxpayers that make a loss carrying on their trade, profession or vocation (collectively referred to as a ‘trade’) and for...

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Option to defer VAT payments ends 30 June 2020

The option to defer your VAT payments ends on 30 June 2020. The Coronavirus VAT payment holiday gave businesses the chance to defer the payment of any VAT liabilities between...

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Depreciation

The word depreciation means a reduction in the value of an asset over time. It recognises the fact that if you buy assets for your business – cars, plant, computers...

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Defer your Self Assessment payment on account

Choose how and when you can delay making your second payment on account for the 2019 to 2020 tax year. You have the option to defer your second payment on...

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What is Capital Gains Tax incorporation relief?

If you own a business as a sole trader or in a partnership, a Capital Gain will arise if your business is transferred into a company structure. The gain will...

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New £20 note unveiled

The Governor of the Bank of England, Mark Carney, has unveiled the design of the new £20 note which features the artist JMW Turner. The new note will be launched...

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Tax Relief For Private Pension Contributions

You can claim tax relief for your private pension contributions. The annual allowance is £40,000 for the current tax year. there is also a facility to carry forward any unused...

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Shared Parental Leave And Pay

The shared parental leave and pay rules offer working parents far greater choices as to how they share the care of their child and take time off work during the...

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Changing your company’s year end date

There are rules in place which limit your options to change your company’s year end date. A company’s year end date is also known as its ‘accounting reference date’ and...

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Income Excluded From A UK Property Business

HMRC publishes a list of income streams that are excluded from a UK property business. The list includes fishing concerns, hotels and guest houses, tied premises, caravan sites, lodgers and...

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Tax For Provision Of Parking Spaces

There are some important rules you must be aware of if your provide parking spaces to your employees. If the parking spaces you provide are at, or near your employee’s...

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Reporting Employee Changes

There are rules that businesses must follow when they are reporting employee changes. These changes must be sent to HMRC using a Full Payment Submission (FPS). The FPS is a...

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Planning A Christmas Party?

Now is the time that many businesses are planning their Christmas celebration for their staff, clients and prospective clients. The cost of a staff party or other annual entertainment is...

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The Annual Investment Allowance

The Annual Investment Allowance (AIA) is a tax relief that was introduced in 2008. The AIA allows for the total amount of qualifying expenditure on plant, machinery, commercial vehicles and...

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Simplified Expenses For Motor Vehicles

There are simplified arrangements in place for the self-employed (and some partnerships) to claim a fixed rate deduction for certain expenses where there is a mix of business and private...

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Trading Income Priority Rules

There is specific tax legislation that seeks to determine which charge takes priority where two different charges could potentially apply to the same income. These rules are known as the...

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Duty-Free Shopping To Make A Comeback?

The Chancellor of the Exchequer Sajid Javid has said that the Government will reintroduce duty-free shopping with EU countries in the event the UK leaves the EU without a deal....

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VAT Changes for CIS Sub-contractors delayed

The VAT rule changes for building contractors and sub-contractors that were expected into effect imminently, have been delayed for 12 months until 1 October 2020. This announcement followed intense lobbying...

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Visiting EU After 31 October 2019

HMRC has published guidance on visiting the EU after 31 October 2019. They have said that there will be significant changes to the rules for EU travel if there is...

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VAT For Business If There Is A No-Deal Brexit

If the UK leaves the EU on 31 October 2019, without a deal, there will be immediate changes to the procedures that apply to businesses trading with the EU. Listed...

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Enhanced Redundancy Protections for Pregnant Women and New Parents

The government has published its response to its January 2019 consultation on “pregnancy and maternity discrimination: extending redundancy protection for women and new parents” and has confirmed that it will...

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Child Benefit Charge If Income Exceeds £50,000

The High Income Child Benefit Charge (HICBC) applies to a parent whose income exceeds £50,000 in a tax year and who is in receipt of Child Benefit. If both parents...

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Keeping Records If Self-Employed

If you are self-employed as a sole trader or as a partner in business partnership, then you must keep suitable business records as well as separate personal records of your...

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Working After State Pension Age

Many taxpayers reach the State Pension age and continue to work. It should be noted that the requirement to pay any employee or self-employed National Insurance Contributions (NICs) ceases once...

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When Are Class 1A NICs Due

Class 1A NICs are paid by employers in respect of most benefits in kind provided to employees, for example, the use of a company car. There are no Class 1A...

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Protecting yourself from an HMRC investigation

A tax investigation is stressful, time consuming and usually very expensive. And it could easily happen to you. HMRC’s investigations are more focused than ever before. During the tax year...

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Loss Buying Restrictions

Under qualifying circumstances, Corporation Tax relief is available where your company makes a trading loss. The trading loss can be used by offsetting the loss against other gains or profits...

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Tax Free Gifts To Your Spouse Or A Charity

There is usually no Capital Gains Tax (CGT) due on transfer of assets between husbands, wives and civil partners. However, there is still a deemed disposal that has taken place...

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When You Can Not Reclaim VAT

For most fully taxable businesses, VAT can be reclaimed on goods and services used in the business. This means businesses must consider where there is any personal or private use...

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Changes To The Employment Allowance

As part of the Autumn Budget 2018 measures it was announced that access to the Employment Allowance was to be restricted. From 6 April 2020, the £3,000 NIC Employment Allowance...

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New Cyber Security Guidance Published

The National Cyber Security Centre (NCSC) has published guidance to help small to medium sized organisations prepare their response to, and plan their recovery from a cyber incident. The NCSC...

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Informing HMRC of Changes In your Personal Details

If your personal details change, you are required to notify HMRC as this can affect your entitlement to certain tax breaks and/or benefits. You need to tell HMRC if: you...

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Government Help With Childcare Costs

For many working parents, childcare costs can play a large role when planning to return to work. Now that childcare vouchers have closed to new entrants, we are reminding employers...

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Free Information About Companies

You can find a surprising amount of free information about companies on Companies House. This is in line with the government’s commitment to free data and ensures that all publicly...

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VAT Reverse Charge Construction Industry

A change to the VAT rules first announced at Budget 2018, will come into effect from 1 October 2019. This change will make the supply of construction services between construction...

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When Does ATED Apply?

The Annual Tax on Enveloped Dwellings (ATED) came into effect from 1 April 2013. The tax applies to certain Non-Natural Persons (NNPs) that own interests in dwellings valued at more...

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Do You Have A Complaint For HMRC?

Taxpayers may find themselves in a position where they want to complain to HMRC, for different issues such as poor treatment, unreasonable delays or mistakes. In these circumstances HMRC use a...

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HMRC Cancels Penalties Charged To 6,000 Families

The High Income Child Benefit Charge (HICBC) was introduced in January 2013 and applies a charge to taxpayers whose income exceeds £50,000 in a tax year and who are in...

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The Scrappage Scheme

The Mayor of London has launched a scrappage scheme to help tackle London’s air quality crisis. You can claim up to £3,000 off your newer vehicle if your vehicle doesn’t...

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The Tax Consequences of Social Events

The cost of a staff party or other entertainment is generally allowed as a deduction for tax purposes. As long as you meet the criteria outlined below there is no...

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Do You Need To Submit A Tax Return?

There are a number of reasons why you may need to register with HMRC to submit a tax return. This could include: if you are self-employed and earning more than...

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Tax And Lease Premiums

Where a freeholder (or landlord) of a property grants a new lease to a new tenant there are sometimes upfront payments due, usually known as a lease premium. The payments...

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MTD Regulations Relaxed

Starting from April 2019, most VAT-registered businesses that have a taxable turnover over £85,000 are required to keep their VAT records digitally and use Making Tax Digital (MTD) compatible software...

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It’s time for landlords to consider their options

There are two changes to the way Private Residence Relief works that are due to come into effect from April 2020. These changes could reduce the amount of CGT relief...

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The Help To Save Scheme

The Help to Save scheme is for people on low incomes and was launched in September 2018. The scheme allows those in work entitled to Working Tax Credit and in...

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HMRC Crackdown on estate agents

HMRC have recently launched a new crackdown on money laundering regulation non-compliance by estate agents. This has recently resulted in over 50 visits by HMRC staff to estate agents all over...

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Registering as self employed

HMRC’s guidance says that you are probably self-employed if you: run your business for yourself and take responsibility for its success or failure; have several customers at the same time;...

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Maternity Pay Explained

How much maternity leave can you take? If you work as an employee and become pregnant you are eligible to take up to 52 weeks of statutory maternity leave. This...

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Let Property Disclosure Campaign

The Let Property Campaign provides landlords who have undeclared income from residential property lettings in the UK or abroad with an opportunity to regularise their affairs by disclosing any outstanding...

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Business record keeping for the self-employed

If you are self-employed as a sole trader or as a partner in a business partnership, then you must keep suitable business records as well as separate personal records of...

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Making Tax Digital for VAT

The deadline for businesses with a turnover above the VAT threshold to keep digital records for VAT purposes using Making Tax Digital (MTD), is here. For VAT returns periods starting on...

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Income Excluded from UK Property Business

Most of our readers will be aware of the £1,000 property income allowance that came into effect on 6 April 2017. This allowance applies to income from property (including foreign...

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Benefits of submitting your tax return early

The 2018-19 tax year ended on 5 April 2019 and the new 2019-20 tax year started on 6 April 2019. Many taxpayers will be tempted to delay dealing with their...

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Help to save scheme

The Help to Save scheme for people on low incomes was officially launched in September 2018 and since then over 80,000 people have signed up. The scheme allows those in...

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Landlords under the red light for underpaid and undeclared tax

There was a 51% rise in the number of landlords found to have underpaid or undeclared tax on letting income in 2018. A Freedom of Information request from Telegraph Money...

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Company tax deductions for charitable donations

There are special rules in place when a limited company gives to a charity. This can include Corporation Tax relief for qualifying donations made to registered charities or community amateur...

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Statutory payment rates for the tax year 2019/20

The following statutory payment rates have been confirmed: The standard weekly rates of Statutory Adoption Pay (SAP), Statutory Paternity Pay (SPP) and Statutory Shared Parental Pay (ShPP) will increase from...

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Cycle to work schemes

There are special rules involving bicycles usually referred to as ‘Cycle to Work’ arrangements. The Cycle to Work scheme was introduced almost 20 years ago to help promote the use...

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Lettings relief changes and other exemptions April 2020

Two changes to the way Private Residence Relief works are due to come into effect from April 2020. These changes could reduce the amount of CGT relief available on the...

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Pension qualifying earnings band figures and minimum contributions for tax year 2019/20

The Automatic Enrollment Order for 2019 has now been published. As expected, the earnings trigger has remained frozen for another year, which determines when an eligible worker is entitled to be automatically...

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Tax Due by the end of this month

The 31 January 2019 is not just the final date for submission of your self assessment tax return but also an important date for payment of tax due. This is...

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7 Ways Self-Employed can prepare for 2019

It’s that time of year when lots of people talk about personal New Year’s resolutions, but it’s also a great opportunity for you to reassess your business aims and objectives...

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Autumn Budget – All you need to know as a Landlord

Following announcements made during Phillip Hammond’s Autumn Budget, we’ve taken a look at the changes landlords could face across the UK – including adjustments to the income tax, personal allowance...

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What is a company confirmation statement

As well as filing accounts with Companies House, there is a requirement to check that the information Companies House stores about your company is correct every year. This is facilitated...

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CGT Rollover Relief – ownership of assets

Capital Gains Tax (CGT) rollover relief is a valuable relief that allows for a delay in the payment of CGT on gains when you sell or dispose of certain assets...

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MTD for VAT to launch April 2019

The introduction of MTD (Making Tax Digital) for VAT will affect businesses with a turnover above the current VAT threshold of £85,000. These businesses will be required to keep digital records...

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Who should submit a Self-Assessment ?

There are a number of reasons why a taxpayer should complete a Self Assessment return. This includes, if they are self-employed, a company director, have an annual income over £100,000 and...

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Director loans – tax implications

Lending money to your company If you lend money to your company, the tax effects are as follows: – Your company will not pay corporation tax on the money you...

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Employer Pension Contributions

Employer contributions to any type of pension arrangement in a registered pension scheme are always paid gross. Tax relief is given by deducting the gross amount of the contributions from...

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Tax Free Health Benefits

There is no requirement for employers to pay tax and National Insurance on certain health benefits covered by tax concessions or exemptions. For example, there is no requirement to report...

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Late Filing PAYE Penalties

There are late filing penalties in place for employers that don’t report payroll information on time. The size of the late filing penalties depends on the number of employees within...

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