NEWS Catch up with the latest in accounting news

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Catch up on the latest news in accounting here, from cutting edge bookkeeping technology to self-assessment updates.

Check your National Insurance Record

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HMRC offers an online service to check your National Insurance Contributions (NIC) record online. In order to use the service, you will need to have a Government Gateway account. If you don’t have an

Which way to turn

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Inflation and recession are cruel task-masters.

If you provide goods or services that can be readily sourced from alternative suppliers, and at a lower cost, trying to beef-up your sales prices will

UK regains control over business subsidies

A new system to regulate the award of subsidies to business came into force on Wednesday 4 January 2023. It should provide a boost to businesses across the country and empower public authorities to

Applying for National Insurance number

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If you do not already have a National Insurance number you will normally need to apply for one if you are planning to work in the UK, claim benefits, apply for a student loan or pay Class 3 voluntary

Mortgage Guarantee Scheme extended

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The Mortgage Guarantee Scheme was set to end on 31 December 2022. In a last-minute announcement from HM Treasury, it was confirmed that the scheme will now be extended for a further 12 months until 31

What is the VAT One Stop Shop?

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The VAT One Stop Shop is an EU wide scheme that allows a VAT registered business to register in only one single EU Member State. The scheme was extended with effect from 1 July 2021. The extended

Did you file your tax return on Christmas Day?

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A new press release by HMRC has highlighted the fact that 3,275 taxpayers took the time to file their tax return online on Christmas Day with a further 10,311 taxpayers completing their tax returns on

Customs Declaration Service deadline extended

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The Customs Declaration Service (CDS) is a customs IT platform designed to modernise the process for completing customs declarations for businesses that import or export goods from the UK. A phased

Limits to tax relief for pension contributions

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Under current rules, you can claim tax relief for your private pension contributions. The annual allowance for tax relief on pensions is £40,000 for the current tax year. There is a three year carry

Tax Diary January/February 2023

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1 January 2023 – Due date for Corporation Tax due for the year ended 31 March 2022.

19 January 2023 – PAYE and NIC deductions due for month ended 5 January 2023. (If you pay your tax electronically

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