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VAT Penalty Regime Change Effective from 1st January 2023
The VAT penalty regime for late returns and late payments has always been tied together which meant the surcharge amounts would rise significantly and very quickly. From 1st January 2023 - HMRC have changed the penalty regime to separate the 2 events...
Tax Rates & Threshold for 2022-23 Tax Year
Please find below the updated Thresholds and Rates for 2022/23 these come into effect from 6th April 2022 and will update in July 2022 Tax thresholds, rates and codes The amount of Income Tax you deduct from your employees depends on their tax code and how...
National Minimum Wage Increase in April 2020 – Employers Obligations
My client is aware that new national minimum wage rates will be introduced in April and want to know what they need to do from an HR perspective to prepare for this? As announced prior to the New Year, the current national minimum wage (NMW) rates will be...
Recovery of VAT Incurred Prior to VAT Registration
Question: My client ran his decorating business for three years as a sole trader and is now going to incorporate. As a sole trader his turnover never quite reached the registration threshold but he will VAT register when he incorporates as a lot of his...
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