Tax investigations by HMRC

HMRC recently announced new powers to carry out investigations on companies they suspect of evading taxes. As a business owner, you might be worrying about what happens if your company comes under scrutiny. Even if you’ve played entirely by the rules, the stress of an investigation can be a lot to deal with. Even more[…]

New law to resolve Covid rent debt

The Government has set up an arbitration system to help resolve outstanding commercial rent debt. This is following the general moratorium on commercial eviction ending. From 25 March, a legally binding arbitration process is available. This is in place for eligible landlords and tenants who have not yet reached an agreement. The Government hopes this[…]

MTD for VAT: VAT-registered businesses

All VAT-registered businesses must comply with Making Tax Digital (MTD) rules, regardless of how much they make each year. This will take place from 1 April 2022. The changes mean all VAT-registered businesses must compile and submit VAT returns using software that connects to HMRC’s systems. They can do that through a bridging tool or[…]

Employee benefits: A new approach.

The reality for most business owners is that you’ll be looking to invest smartly, rather than extravagantly. That’s where employee benefits come in. They allow you to stand out as an employer, without simply throwing money into ever-higher salaries. Like most business owners, you have probably experienced the squeeze in recruitment and retention that has[…]

How to extract profits out of companies

Believe it or not, there are more than 4.7 million limited companies registered in the UK. This includes the 810,316 incorporations that signed up in 2020/21.  Only around 2m are actively trading. But, the number of new companies formed during the previous tax year was a 22% year-on-year increase.  Unsurprisingly, that percentage represented the highest[…]