Information is always key and having the right information is what we are all about. You’ll find below a selection of the latest business and tax information that you should be aware of as well as helpful advice to get you started. Please contact us if you have any questions.
CLOSING THE GAP £35 billion is the estimated tax gap between what HMRC should collect and what it does collect. Small businesses and individuals account for over half of this tax gap, around £17.9 billion. To help ensure tax compliance and close this gap, HMRC undertake Tax and VAT Investigations. WHY? a) to reduce the
Last updated : 24th March 2020. The Government has announced its plans for financial assistance to help employers retain employees for an extended period of time, although offering no work, and avoid lay-offs. It is called the Job Retention Scheme and, while little information has been published as to how it will work, we have
Last updated : 18th March 2020. On 11th March 2020, the UK Government introduced a range of measures, some of which have been superseded on 17th March 2020, to support businesses in response to COVID-19. All businesses in financial difficulty, and with outstanding tax liabilities, may be eligible to receive support with their VAT through HMRC’s
Last updated : 20th March 2020. On 17th March 2020, the Chancellor Rishi Sunak announced further measures to support the economy. He said COVID-19 is “a public health emergency but also an economic emergency”, “will do whatever it takes” and “will go much further in the coming days”. A key measure included the launch of
Last updated : 16th March 2020. Dear Clients; Following the recent developments surrounding COVID-19 (Coronavirus), our top priority remains the health and well-being of our colleagues, whilst ensuring that we are available to continue to deliver a high quality service to all our clients. We have long been a supporter of agile working and have
WE CAN HELP YOU WITH YOUR NEW JOURNEY FROM SETTING UP A BUSINESS ,CHOICE OF BUSINESS VEHICLE TO TRADE, TAX AND RELATED ISSUES The decision should be made in the early days of the business and it should be reviewed as and when circumstances change. This includes changes in the trade (eg expansion); changes in
Correctly recording transactions in your business records is always important but especially so for expenditure on buildings and equipment. How can accurate bookkeeping save you tax? BOOKKEEPING TROUBLE SPOT Even a small business records thousands of financial transactions every year. Most will be straightforward so that even a novice bookkeeper won’t have trouble allocating them
This summer will be your first stab at the Airbnb market. You’ve read a lot about the various alternatives for tax deductions and allowances you can claim, but which are open to you and which can save you the most tax? LETTING INCOME ISN’T ALL THE SAME Airbnb style property letting has become popular in
A MAJOR CHANGE TO THE WAY VAT APPLIES TO THE CONSTRUCTION INDUSTRY IS JUST THREE MONTHS AWAY. WILL YOU BE AFFECTED AND HOW SHOULD YOU PREPARE FOR IT? REVERSE CHARGE From 1st March 2021 a reverse charge for VAT will apply to building and construction services. It will affect you if your business makes or
When you sell or transfer all or part of your business you might be entitled to claim entrepreneurs’ relief in respect of any capital gain you make. This means that the maximum rate of tax that will apply will be 10%. However, to qualify there are conditions that you and your business must meet. WHEN
WE CAN HELP YOU WITH EVERY ASPECT OF TAX FROM CORPORATE TO YOUR PERSONAL AFFAIRS Tax doesn’t have to be taxing and with our dedicated team keeping a close eye on your business and finances we can keep you up to date to ensure you pay just the right amount. Whether it’s taking care of
ACCOUNTING, BOOKKEEPING & EVERYTHING YOU NEED TO KEEP YOUR BUSINESS PERFORMING At ISA Consortium we pride ourselves on taking away all the time consuming jobs you hate to do creating a seamless experience with us that is dependable and reliable. Our state-of-the-art reporting and practice management software makes the accounting practice and bookkeeping process more
