May 2022 – New Rules for Holiday Lettings

Some owners of holiday homes pay no council tax or business rates for their property, as they register the property as business premises then claim small business rates relief (SBRR) to reduce the business rates bill to nil. An assessment for business rates will always ...
Find out more

May 2022 – Gift Aid records

Many people make charitable donations around religious festivals and holidays. If this is your habit, remember that ticking the Gift Aid box on the form when making the donation is a win-win for you and the charity. You can benefit from higher rate tax relief ...
Find out more

May 2022 – Disposal of Unlisted Shares

The share transactions of private companies are just that – private. They do not have to be declared to HMRC, unless a taxable capital gain or loss arises. However, company law requires the company to record at Companies House the names of people who hold ...
Find out more

May 2022 – Interest on Tax Paid Late

If your business struggled during the pandemic, you may have tax still outstanding from 2019/20 due to having little or no income from your trade in 2020/21. All outstanding tax now carries interest at 2.75%. Where the tax has been outstanding for more than six ...
Find out more

Apr 2022 – Use Your Basic Rate Band

Use your basic rate band Rates of dividend tax and National Insurance Contributions (NIC) are both due to increase from 6 April 2022 by 1.25 percentage points. The main rate of Class 1 employees’ NIC will increase from 12% to 13.25% and the basic rate ...
Find out more

Apr – New Tax Manager for Clarke Nicklin

Clarke Nicklin Chartered Accountants are delighted to announce their newest addition to the accounts team, Tax Manager, John Crawford. John joins the Clarke Nicklin team as a member of the Association of Taxation Technicians (ATT) and is also a Chartered Tax Adviser (CTA). He was ...
Find out more

Apr 2022 – New Starters for Clarke Nicklin

Clarke Nicklin Chartered Accountants are continuing to grow further after appointing 4 new starters within the past 6 months to work in different departments, including Accounts, Audit & Reception. Our first new starter joined us late last year, Practice and Compliance Manager, Beverley Richardson. Certified ...
Find out more

Apr 2022 – Change To Tax Year Basis

Change to “tax year basis” The Government is determined to change the way that trading profits are reported for tax purposes. Not only is it introducing digital recording and reporting in the form of Making Tax Digital for Income Tax Self Assessment (MTD ITSA), but ...
Find out more

Apr 2022 – MTD Compulsory for VAT

MTD compulsory for VAT If you are VAT-registered and not yet filing your VAT returns using MTD compatible software, we need to talk. All businesses that are voluntarily registered for VAT (turnover under £85,000) need to comply with the MTD (Making Tax Digital) regime from ...
Find out more

Apr 2022 – New Mileage Rates

New mileage rates The price of road fuel has increased significantly in the last few months and HMRC has responded by raising all of the advisory fuel mileage rates for company cars from 1 December 2021. Where the employee pays for the fuel in their ...
Find out more

Mar 2022 – Spring Budget Statement

The Chancellor of the Exchequer, Rishi Sunak, delivered his Spring Statement on Wednesday 23 March 2022. In this early edition of our April newsletter we outline the key measures affecting our clients. National Insurance Contributions (NICs) Despite lobbying to delay the upcoming 1.25% increase in ...
Find out more

Mar 2022 – Welcome To Our Business Club…

Join us for a morning of complimentary breakfast, networking, and a discussion of key topics in business on the 31st March from 8am-10am. This month's topic is: How to reach our customers in an evolving market with an omni channel approach Succession Planning is key ...
Find out more