Blog – Sutton Coldfield Accountancy

Making Tax Digital (MTD) For Income Tax

Written by Tony Shackleford on November 3, 2021.

The government has recently published further guidance on the implementation of MTD for Income Tax, which is due to come into effect on 1 April 2021. All self employed and landlords having gross income...

MTD, MTD for Income Tax, MTD transitional year

Remaining Government Support In Respect Of Covid

Written by Tony Shackleford on October 18, 2021.

The hospitality VAT rate moved from 5% to 12.5% on 30 September 2021. It returns to the standard VAT rate of 20% on 31 March 2022. On 31 March 2022 the following alos end: a) Commercial eviction protection...

covid, Vat

Making Tax Digital (MTD) Update

Written by Tony Shackleford on October 1, 2021.

In a recent government announcement, the implementation of MTD for income tax (which includes residential landlords) has been delayed until April 2024. The current timing of the MTD rollout is as follows MTD...

MTD, MTD Income tax

National Insurance Contributions Increase

Written by Tony Shackleford on September 13, 2021.

From April 2022 National Insurance Contributions (NIC) will increase by 1.25% to finance health and social care. This increase will mean that employees NIC will increase from 12% to 13.25% for those...

Dividend tax increase, NIC increase

Self Employed Income Support Scheme (SEISS) Grant Repayment

Written by Tony Shackleford on September 6, 2021.

When tax payers submitted each SEISS claim, they were required to confirm eligibility for those grants. If grants have been claimed which the taxpayer was not entitled to, HMRC needs to be notfied and...

SEISS, Self employed income support grant

IR35 Rules Relating to Employment Status

Written by Tony Shackleford on August 31, 2021.

The Department of Works and Pensions (DWP)as recently published its annual report and accounts. These included an item of expenditure for £87.9m paid to HMRC in tax year 20/21. The payment was in respect...

CEST, IR35

Proposed Changes To Tax Accounting Periods For The Self Employed

Written by Tony Shackleford on August 23, 2021.

With the introduction of Making Tax Digital (MTD) for the self employed, which is due to take place in April 2023, the government has indicated that accounting periods for the self employed may need...

Self employed tax, tax base periods

VAT Changes for Sales on Amazon, Ebay etc

Written by Tony Shackleford on August 9, 2021.

From 1 July 2021 platforms such as Amazon and Ebay are responsible for ensuring that VAT is collected on sales of goods on their platforms. In simple terms, this means that when a buyer purchases goods...

Amazon VAT, Ebay VAT

Commercial Evictions

Written by Tony Shackleford on July 26, 2021.

In the light of the continued hardship experienced by many businesses due to the impact of Covid, the government has extended the ban on commercial evictions until 25 March 2022. This extension is bad...

commercial tenant eviction, covid

Fifth SEISS Grant Claim

Written by Tony Shackleford on July 16, 2021.

The fifth SEIS grant is similar in many respects to the previous 4 grant claims. However the level of the grant now depends on the extent to which turnover has dropped. In previous claims it was sufficient...

SEIIS 5, SEISS, Self employed income support scheme

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