Latest News

Latest case highlights the dangers of not meeting workplace pension requirements
4 February 2020 - posted by: Prowting & Partners Accountants in Bristol

A recruitment business has been ordered to pay £10,890 after avoiding their automatic enrolment duties and misleading the Pensions Regulator (TPR). Hertfordshire-based SKL Professional Recruitment Agency Ltd’s managing director Linus (known as Lee) Kadzere has been sentenced at Brighton Magistrates’ … Read more »

VAT zero-rating now applicable to businesses e-publications
4 February 2020 - posted by: Prowting & Partners Accountants in Bristol

Businesses that rely on the production of guides, physical books, newspapers or other printed materials currently enjoy a zero-rating for VAT. However, those who sell and publish similar content online have had to pay VAT at the standard rate. This … Read more »

Entrepreneurs’ Relief changes expected in March Budget
4 February 2020 - posted by: Prowting & Partners Accountants in Bristol

Speculation is increasing that Chancellor, Sajid Javid, will announce significant curbs on Entrepreneurs’ Relief in the Budget, or could even scrap the valuable tax relief altogether. According to the Financial Times, ministers are concerned that Entrepreneurs’ Relief is too generous … Read more »

Make the most of the Brexit implementation period
4 February 2020 - posted by: Prowting & Partners Accountants in Bristol

Now that the UK has left the EU, we have entered an implementation period that will last the rest of 2020, during which the UK’s future relationship with the EU will be agreed, giving businesses the chance to prepare for … Read more »

VAT receipts reach record level of £133 billion
7 January 2020 - posted by: Prowting & Partners Accountants in Bristol

Figures published by HM Revenue & Customs (HMRC) have revealed that VAT revenue in 2018/19 rose by £7 billion from the previous year to reach a record £133 billion. In the ten years since 2008/09, the VAT take has risen … Read more »

New Advisory Fuel Rates
7 January 2020 - posted by: Prowting & Partners Accountants in Bristol

A new set of Advisory Fuel Rates came into effect from the beginning of December 2019, which apply to employees who use a company car. The rates can be used in circumstances where you are reimbursing employees for business travel … Read more »

HMRC launches revamped CEST IR35 off-payroll working tool
7 January 2020 - posted by: Prowting & Partners Accountants in Bristol

With less than three months remaining before the IR35 off-payroll working rules begin to apply in the private sector, HM Revenue & Customs (HMRC) has launched a revamped CEST IR35 off-payroll working tool. The rule change means that engagers, rather … Read more »

Reminder: National Living Wage set to increase from April
7 January 2020 - posted by: Prowting & Partners Accountants in Bristol

On 1 April 2020 the Government will introduce increases to the National Living and Minimum Wage. From this date the National Living Wage (NLW) will rise from £8.21 to £8.72 per hour and will mean that 2.8 million full-time workers … Read more »

SMEs now wait 23 days for late payments, new study finds
7 January 2020 - posted by: Prowting & Partners Accountants in Bristol

According to the latest data, UK SMEs now have to wait up to 23 days on average for late payments to be made. MarketFinance, a peer-to-peer invoice finance platform, has analysed late payment data between 2013 and 2019 from 100,205 … Read more »

Should your company pay a data protection fee?
7 January 2020 - posted by: Prowting & Partners Accountants in Bristol

We are aware that the Information Commissioner’s Office (ICO) has been contacting companies to remind them of their legal obligation to pay a data protection fee. The ICO has confirmed that the UK’s 4.2 million limited companies will receive letters … Read more »

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Budget 2020

Budget summary When Philip Hammond …
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