Latest News

UK SMEs hit by £17.4 billion cybercrime bill in 2018
2 April 2019 - posted by: Prowting & Partners Accountants in Bristol

New research from internet service provider, Beaming, has revealed that in 2018 UK small and medium-sized enterprises (SMEs) were affected by cybercrime to the tune of £17.4 billion. Business cybercrime is the flavour of the month for fraudsters, with hacking, … Read more »

ITV presenter Lorraine Kelly wins important IR35 appeal
2 April 2019 - posted by: Prowting & Partners Accountants in Bristol

Lorraine Kelly has won an appeal against HM Revenue & Customs (HMRC) at a First Tier Tribunal (FTT) following a £1.2 million demand for unpaid income tax and National Insurance Contributions (NICs). HMRC claimed that Lorraine Kelly should have been … Read more »

Are you registered for Making Tax Digital yet?
2 April 2019 - posted by: Prowting & Partners Accountants in Bristol

Launched on 1 April 2019, most VAT registered businesses are now required to comply with the new Making Tax Digital for VAT regime. However, many businesses may not be aware that they are required to register to use the new … Read more »

Spring Statement 2019
13 March 2019 - posted by: Prowting & Partners Accountants in Bristol

On any other day, the Chancellor’s Spring Statement would have dominated the headlines. However, with the UK’s scheduled withdrawal from the EU just days away, and the Prime Minister’s latest Brexit deal voted down by the Commons just hours earlier, … Read more »

Making Tax Digital productivity boost expected to be worth billions to UK SMEs
5 March 2019 - posted by: Prowting & Partners Accountants in Bristol

New research suggests that the UK’s SMEs could benefit to the tune of as much as £57 billion over the next five years because of digital productivity improvements associated with HM Revenue & Customs’ (HMRC) Making Tax Digital (MTD) initiative. … Read more »

Delay in issuing Self-Assessment penalty notifications
5 March 2019 - posted by: Prowting & Partners Accountants in Bristol

While 93.68 per cent of the 11.5 million taxpayers who were required to file their Self-Assessment Tax Returns by midnight on 31 January did so on time, 731,186 missed the deadline. Those who missed the deadline will have to wait … Read more »

New advisory fuel rates for company car users
5 March 2019 - posted by: Prowting & Partners Accountants in Bristol

New advisory fuel rates from 1 March 2019 for drivers of company cars have fallen for all but one class of vehicle. The rates apply where a business is reimbursing employees for travel in a company car, or where employees … Read more »

Make the grandest romantic gesture and reduce your tax bill
5 March 2019 - posted by: Prowting & Partners Accountants in Bristol

Getting married or conducting a civil partnership ceremony is often the happiest day of most people’s lives but unfortunately almost one million married or civil partnered couples in the UK have not used up to £900 in tax relief available … Read more »

Tribunal finds in favour of Middlesbrough FC in low pay claim
5 March 2019 - posted by: Prowting & Partners Accountants in Bristol

In a landmark case, Middlesbrough FC has effectively won the right to pay staff below the minimum wage by providing other benefits to them. In February, an employment tribunal at Teesside Magistrates’ Court overturned a ruling that the Championship football … Read more »

Are you making full use of the generous R&D relief scheme?
5 March 2019 - posted by: Prowting & Partners Accountants in Bristol

Hundreds of businesses across the UK enjoy tax relief totalling millions of pounds thanks to the Government’s generous R&D relief scheme. Last year nearly 40,000 claims were made for Research and Development (R&D) tax credits in the UK, almost double … Read more »