In this month’s Enews we consider news from the Autumn Statement, household incomes and business forecasts. We also update you with the latest on auto-enrolment and exports. With information on the Digital Services Tax and advisory fuel rates, there is a lot to update you on.
News Archive 2022
December 2022
Accounting News - December 2022
November 2022
Autumn Statement 2022
On 17 November 2022, the government undertook the third fiscal statement in as many months, against a backdrop of rising inflation and economic recession. The Chancellor laid out three core priorities of stability, growth and public services. The government sought a balanced path to support the economy and return to growth, partially through public spending restraint and partially through tax rises.
Accounting News - November 2022
In this month’s Enews we consider the latest news on the upcoming Autumn Statement. We also update you on inflation and the cost-of-living crisis. With guidance for employers and a warning for self assessment taxpayers, there is a lot to update you on.
October 2022
Charity News - Autumn 2022
Our Charity News includes the latest guidance and support available for the not-for-profit sector as the cost of living crisis starts to bite. We also consider the impact of recent legislative, reporting and tax developments and other pertinent issues, giving you the inside track on the sector's current hot topics and latest guidance.
Maxing Tax Digital (MTD) for VAT update
By law, all VAT-registered businesses must now sign up to Making Tax Digital (MTD) and use MTD-compatible software to keep their VAT records and file their VAT returns.
If you do not sign up for MTD and file VAT returns via compatible software, you may have to pay a penalty. The best way to avoid penalties is to start using MTD now.
Chancellor brings forward further medium-term fiscal plan measures
As the saying goes, a week is a long time in politics. However, recent events have been unprecedented. At the Mini Budget a new Prime Minister and Chancellor launched a new agenda, ‘The Growth Plan’.
Three weeks later, after huge turmoil, a reversal of most of the elements of that plan and a new statement planned for 31 October. This is now being referred to as the Medium-Term Fiscal Plan, where the Chancellor will publish the government’s fiscal rules alongside an Office for Budget Responsibility forecast, together with what are described as ‘further measures’.
The changes outlined on 17 October are designed to ensure the UK’s economic stability and provide confidence in the government’s commitment to fiscal discipline. Below, we have outlined the current position.
Accounting News - October 2022
In this month’s Enews we consider the latest news on the Mini Budget and the reversal of the plan to scrap the 45p rate of income tax. We also update you with details of the government’s energy support schemes and the Making Tax Digital for VAT. With news on the SMEs recruitment struggles and scam warnings, there is a lot to update you on.
September 2022
Chancellor reveals his plan for growth (Mini Budget - Autumn 2022)
The week leading up to Chancellor Kwasi Kwarteng’s ‘Mini Budget’ may have been a short one due to the Queen’s funeral but the new government managed to fill it with a stream of policy announcements.
The Growth Plan set out a new approach to the economy built around three central priorities:
- reforming the supply-side of the economy
- maintaining a responsible approach to public finances
- cutting taxes to boost growth.
Accounting News - September 2022
In this month’s Enews we consider the relaunch of the Recovery Loan Scheme. We also update you on increases to the National Insurance threshold and the IMF’s latest economic forecasts. With new Financial Services legislation going through Parliament and calls to make the super-deduction permanent, there is a lot to update you on.
August 2022
Accounting News - August 2022
In this month’s Enews we consider the relaunch of the Recovery Loan Scheme. We also update you on increases to the National Insurance threshold and the IMF’s latest economic forecasts. With new Financial Services legislation going through Parliament and calls to make the super-deduction permanent, there is a lot to update you on.
July 2022
Accounting News - July 2022
In this month’s Enews we consider the latest news on Making Tax Digital for Income Tax Self Assessment. We also update you on rising inflation and interest rates and the impact of the increase in national insurance contributions. With guidance for employers and a warning for new homeowners, there is a lot to update you on.
June 2022
Accounting News - June 2022
In this month’s Enews we consider the latest news on the cost-of-living crisis with the Chancellor announcing further measures to help families and businesses. We also update you with the latest on the energy price cap and rising inflation. With news on the future of cash and minimum wage penalties, there is a lot to update you on.
May 2022
Accounting News - June 2022
In this month’s Enews we consider the latest news on the cost-of-living crisis with the Chancellor announcing further measures to help families and businesses. We also update you with the latest on the energy price cap and rising inflation. With news on the future of cash and minimum wage penalties, there is a lot to update you on.
April 2022
Charity Newsletter - Spring 2022
Our Charity News includes the latest guidance and support available for the not-for-profit sector as COVID-19 restrictions come to an end and trustees start planning for the future. We also consider the impact of recent legislative, reporting and tax developments and other pertinent issues, giving you the inside track on the sector's current hot topics and latest guidance.
Accounting News - April 2022
In this month's Enews we consider the major announcements from the Chancellor's Spring Statement. We also update you with the latest economic growth forecasts and the Bank of England's latest decision on interest rates. With guidance on student loans and ground rents for leaseholders, there is a lot to update you on.
Spring Statement 2022
In his Spring Statement, the Chancellor announced a cut in fuel duty for petrol and diesel as he sought to ease the impact of rising prices for households and businesses. The Chancellor will lift the starting thresholds for National Insurance contributions (NICs). He also pledged a cut to income tax in 2024. However, the Health and Social Care Levy will still be implemented in April 2022.
March 2022
Accounting News - March 2022
In this month's news we consider the upcoming Spring Statement; the closure of the SSP Rebate Scheme; and applications for COVID-19 grants that are still available. We also update you with the latest on freeports and the impact of interest rate rises on HMRC late payments. With guidance on self assessment returns and fuel rates for company cars, there is a lot to update you on.
February 2022
Accounting News - February 2022
In this month’s news we consider the Chancellor’s latest fund for businesses impacted by the pandemic; waivers to self assessment penalties; and the requirement to include COVID grants on tax returns. We also update you on both the Scottish and Welsh budgets. With guidance for employers and the FCA introducing a new duty to consumers, there is a lot to update you on.
January 2022
Accounting News - January 2022
In this month’s news we consider the Chancellor’s latest fund for businesses impacted by the pandemic; waivers to self assessment penalties; and the requirement to include COVID grants on tax returns. We also update you on both the Scottish and Welsh budgets. With guidance for employers and the FCA introducing a new duty to consumers, there is a lot to update you on.
