The Spring Statement is not supposed to be the occasion for significant tax or spending announcements. But this year, under pressure from the economy, the public and the opposition, the Chancellor had no choice but to take some action. We review the changes here.
New minimum wage rates came into effect on 1 April 2022 and your Payroll processes should now be taking account of this. There is, however, a lot more to being minimum wage compliant than simply paying a higher hourly rate. Here are two things to watch out for if you want to avoid an unexpected penalty from HMRC.
Changes to the tax basis period coming in the tax year 2023/24 will alter the way tax liability is calculated for unincorporated businesses (sole traders and partnerships). Here we answer your questions about basis period reform.
The government’s Help to Grow: Digital scheme opened for applications in January 2022. Find out whether you could claim a 50% discount on a range of approved business software.
It’s over a year since major changes to the off-payroll working (OPW) rules came in. The 12-month grace period for compliance is now over and any errors or inaccuracy could lead to fines.
We look at the upcoming and future changes to National Insurance and the Health & Social Care Levy, and what it all means for employers.
Are you at the end of your current mortgage deal? Or already on your bank’s standard variable rate? If you’re looking for ways to save money and reduce your monthly outgoings, remortgaging could make a bigger difference to your cashflow than anything else.
Xero Platinum Partner status is the highest tier of Xero’s accreditation scheme. Whilst this is a brilliant achievement for RfM Accountants + more – and one we are rightly proud of – what does this mean for you and your business?
A complex Supreme Court tax case in 2021 resulted in a win for the taxpayer – and two important lessons about HMRC.
If you needed any proof that cryptoassets are big news, just look up the Collins Dictionary 2021 word of the year: NFT (or non-fungible token). Now NFTs and other cryptoassets have attracted global attention, they’re also on HMRC’s radar.
Recent figures reveal the average Gift Aid donor gives £360, although donors in Northern Ireland top the list with an average £750 gift. There’s no doubt that Gift Aid is good for charities but a 2020 High Court tax case highlights the importance of following the rules.
We all know that electric cars are better for the planet. But, if you drive a company car, will the switch to electric be better for the pocket too? We look at the tax benefits of zero-emission electric company cars.
It may sound too good to be true but ‘trivial benefits’ can provide a completely tax and deduction-free benefit for directors and employees.
Research & Development. It’s what other companies do. Right? You might be surprised to learn that what you’ve been doing is actually classed as R&D.
Maximising the tax benefit from capital expenditure is often a balancing act of different considerations. Timing, in particular, can be key to getting the best outcome. Here are two deadlines to bear in mind if you have imminent plans for capital spending.