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More than 3,000 taxpayers complete self-assessment on Christmas Day
7 January 2020 - posted by: Prowting & Partners Accountants in Bristol

Instead of tucking into turkey or unwrapping their gifts, 3,003 taxpayers completed their self-assessment returns on 25 December 2019, according to HM Revenue & Customs (HMRC). Every year hundreds of people across the UK use the Christmas break as a … Read more »

Annual R&D spend in the UK reaches £25 billion
3 December 2019 - posted by: Prowting & Partners Accountants in Bristol

According to the latest figures from the Office for National Statistics (ONS) businesses in the UK spent £25 billion on research and development (R&D) during 2018. The figure represents a 5.8 per cent increase on the previous year when the … Read more »

Keeping workplace gifts tax-free this Christmas
3 December 2019 - posted by: Prowting & Partners Accountants in Bristol

Over the Christmas period, you may wish to treat your employees. This is a tried and trusted approach to building a strong relationship with your team. But are you aware that you may be breaking PAYE rules by doing so? … Read more »

HMRC urges taxpayers to be vigilant ahead of self-assessment deadline
3 December 2019 - posted by: Prowting & Partners Accountants in Bristol

HM Revenue & Customs (HMRC) has urged taxpayers to be vigilant ahead of the self-assessment deadline on 31 January 2020, with a surge in fraudulent activity expected. HMRC has said that it has received 900,000 reports in the last 12 … Read more »

The end of the help-to-buy ISA – What’s next?
3 December 2019 - posted by: Prowting & Partners Accountants in Bristol

Since 2015, banks and building societies have been offering help-to-buy ISAs to first-time buyers. To qualify, you had to be 16 or over and be a first-time buyer. However, as of the end of last month, the scheme has been … Read more »

Late payments a huge drain on SMEs
3 December 2019 - posted by: Prowting & Partners Accountants in Bristol

Small firms are owed a staggering £23.4 billion in late payments, an issue that is continuing to cause greater problems for businesses each year. In the last year alone, the figure has increased by £10.4 billion According to one study … Read more »

Around half of the UK’s SMEs admit to making errors on taxes
3 December 2019 - posted by: Prowting & Partners Accountants in Bristol

According to accounting software providers, QuickBooks, over 50 per cent of UK small and medium-sized enterprise (SME) owners have made a mistake when filing their VAT returns, while just a quarter (25 per cent) feel confident that they have filed their … Read more »

Newly cohabiting parents warned over new tax charge
4 November 2019 - posted by: Prowting & Partners Accountants in Bristol

Newly cohabiting couples, where at least one of the partners is a parent, have been warned by a leading insurer to be aware of a new tax charge, if either earns more than £50,000 a year. NFU Mutual has said … Read more »

Pension holders to be refunded £54 million of overpaid tax
4 November 2019 - posted by: Prowting & Partners Accountants in Bristol

New figures released by HM Revenue & Customs (HMRC) have revealed that it handed back more than £54 million to people who had overpaid tax on pension withdrawals in the last three months alone. The latest quarterly data for 1 … Read more »

Businesses and contractors offered clarity on IR35
4 November 2019 - posted by: Prowting & Partners Accountants in Bristol

With less than six months left until the introduction of the IR35 regulations in the private sector, HM Revenue & Customs (HMRC) has finally released additional guidance to help clarify this complex area of taxation.

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Budget 2020

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