HLAS

Although the start of MTD for ITSA has been delayed to 2026 at the earliest, the start date of the new regime for taxing the profits of unincorporated businesses on a tax year basis has not been delayed and the transition will still take effect in the tax year to 5 April 2024. This will be a major change for those unincorporated businesses that prepare their accounts to a date other than 5 April or 31 March. From 6 April 2024 such businesses will need to compute their taxable profits from 6 April to 5 April each year, regardless of [...]

The Department for Work and Pensions (DWP) has announced more detail on the payment schedule for the next round of cost of living support. The cash for means-tested benefits claimants, including those on Universal Credit, Pension Credit and tax credits, starts in Spring and will go direct to bank accounts in three payments over the course of the financial year. Exact payment windows will be announced closer to the time but are spread across a longer period to ensure a consistent support offering throughout the year. They will be broadly as follows: £301 – First Cost of Living Payment – [...]

The 2017 non domestic rating list is closing. This means that you have up until 31 March 2023 to check that the factual information the Valuations Office Agency (VOA) holds about your property on this list is correct, and to let them know if it isn’t (this is known as making a Check case). You will then be able to challenge the 2017 assessment if you are not happy with the outcome. You will need to have an account set up on the Government Gateway and claim your property before you can make a Check case. There is a helpful video [...]

The Department for International Trade’s (DIT's) inaugural awards will recognise and celebrate the global trading success of small businesses from across the UK. The winning businesses from across seven categories will receive a 2023 winner's certificate and digital badge. They will also receive a high-profile visit from a DIT representative to celebrate their exporting success. The categories are: Agriculture, Food and Drink, Consumer Goods, Creative Industries, Digital Education, Financial and Professional Services, and Manufacturing. The deadline for submissions is 11:59pm on Thursday 23 February 2023. See: Made in the UK, Sold to the World Awards 2022 (qualtrics.com)

Innovate UK, part of UK Research and Innovation, will invest up to £6 million to help develop industry ready robotics and automation solutions for deployment within manufacturing production environments. The solutions should focus on demonstrating innovations to deliver productivity, sustainability, and resilience improvements to the manufacturing processes. Your project must: be robotics or automation focused within a factory production area, be focused on value-adding production tasks or directly associated load, unload and move tasks, include a physical deployment within a manufacturing facility or very near equivalent, for example, a comparable development facility, and demonstrate a clear, scalable commercial exploitation route [...]

The Nation will have the opportunity to join a weekend of celebrations to mark the Coronation of His Majesty The King and Her Majesty The Queen Consort Coronation Big Lunches, thousands of street parties, and The Big Help Out will bring communities together over special Bank Holiday Coronation weekend The Coronation will take place on the morning of Saturday May 6 at Westminster Abbey, London. On Sunday May 7 a spectacular Coronation Concert at Windsor Castle will showcase the country’s diverse cultural heritage in music, theatre and dance. One of the highlights of the concert will be “Lighting up the Nation”, in [...]

The Public and Commercial Service (PCS) union has announced Civil Service industrial action that will impact Border Force operations. The proposed strike dates are 1st February and 2nd February (until 7.00am). The proposed strike action will impact international arrivals at all UK air and maritime ports as well as those travelling to the UK from UK border controls in Calais, Dunkirk and Coquelles in Northern France. If you are travelling into the UK via any entry point, you should prepare for disruption and check before you travel. Military personnel, civil servants and volunteers from across government are being trained to [...]

Successful businesses all have two things in common – a thorough understanding of customer needs, and a total dedication to their customers. This involves the process of knowing: Who their customers are; Their customers’ perception of the company and their needs; and How to attract them back time and time again! The logic is that you gather information about your business and get an insight into the way customers and prospective customers think and make ‘buy’ decisions. So, take a day out to work on your marketing plan and set some targets. By the end, you should be in a [...]

The new tax year starts 6 April 2023, so you have a couple of months to consider your options, once we pass this date the majority of the tax planning options for Income Tax and Capital Gains Tax purposes will cease unless actioned before the 6 April. Do you fall into any of these categories? You have or are thinking about a change in your personal status (single, married, separating, joining or dissolving a civil partnership). You are thinking about selling a capital asset, such as shares or a property. From 6 April 2023 the Capital Gains Tax annual exempt [...]

HM Revenue and Customs (HMRC) is changing the way taxpayers who use a repayment agent can receive overpaid tax to protect them and raise standards among repayment agents. HMRC will introduce legislation to change the way repayment agents are paid for their services and better protect customers from the unscrupulous tactics used by some operators. This means stopping the use of legally binding ‘assignments’ as part of claiming an Income Tax repayment, which could only be cancelled if the agent and taxpayer both agreed to do so. This can be challenging for customers who become dissatisfied with their agent, or who [...]