A survey conducted by the Institute of Directors (IoD) has found that 42% of UK businesses that trade internationally expect to see an increase in their exports over the coming year. The survey also revealed that 47% of businesses are still finding Brexit challenging, and just 33% envisage opportunities materialising as a result of Brexit.… Read more…

HMRC has reminded taxpayers that they are now less than 100 days until the deadline for self assessment online return submission. Self assessment taxpayers have until 31 January 2023 to submit their online return for the 2021/22 tax year. According to HMRC, more than 66,000 taxpayers beat the clock and filed their tax return on… Read more…

HMRC has published the latest issue of the Employer Bulletin. The October issue has information on various topics, including: the reduction in the rate of National Insurance contributions making PAYE Settlement Agreement payments and using the PSA1 online form the new starter checklist interactive guidance Making Tax Digital returns and changes to VAT penalties and… Read more…

The British Business Bank (BBB) was supporting £12.2 billion of lending to over 96,000 businesses at the end of March 2022, according to its annual report. As part of its role in reducing regional imbalances the BBB was deploying £900 million of finance and supporting almost 83,000 businesses outside London at the end of March… Read more…

Capital gains tax is applicable to any assets which are “disposed” of. Disposal can include a variety of different methods, including inheritance, gifting etc, but for the majority, it applies to sales. Whilst capital gains tax can apply to a range of different assets, including personal possessions and shares, we are going to focus on… Read more…

Salhan Accountants are delighted to announce that Liliana Pavaluca is the first winner of the S20 Excellence Award. This award was created to commemorate  the 20th anniversary of Salhan Accountants. Liliana is Personal Tax Manager for Salhan Accountants and delivers excellent service to our clients. We wish her every success in the future and look… Read more…

Action Fraud has warned that criminals are using the ongoing cost-of-living crisis to target the public with energy rebate scams. Action Fraud revealed that more than 1,500 reports have been filed with the National Fraud Intelligence Bureau (NFIB) regarding scam emails purporting to be from energy regulator Ofgem, offering customers energy rebates. In order to… Read more…

HMRC will raise interest rates on tax debt from 11 October following the 0.5% increase in the base rate. This means that the late payment interest rate will increase to 4.75% from 11 October 2022. The rate last increased to 4.25% on 23 August. This is the highest rate since the height of the financial… Read more…

Eight in ten small businesses are finding it difficult to recruit staff, according to a report published by the Federation of Small Businesses (FSB). The FSB’s ‘Scaling up Skills’ report found that over 80% of small firms are flagging a lack of relevant qualifications, skills and experience among candidates as a problem, while 60% say… Read more…

HMRC is reminding businesses that they will no longer be able to use their existing Value Added Tax (VAT) online account to submit VAT returns from 1 November. By law, all VAT-registered businesses must now sign up to Making Tax Digital (MTD) and use compatible software to keep their VAT records and file their returns.… Read more…