Latest News
Oct 2022 – Clarke Nicklin Partner Appointed Chair of Cheadle Towns Fund Board
Clarke Nicklin Chartered Accountants Partner, Brian Bradley, has recently been appointed as the Chair of Cheadle Towns Fund Board. The Board’s membership reflects the diversity of Cheadle and comprises representation from private sector, local business, community and voluntary groups, Cheadle MP and Councillors, Local Enterprise ...
Sep 2022 – Mini Budget Round-up
Details announced in the mini budget of 23/9/2022: What we believe to be the “headlines” of the mini budget announced today, are: Businesses: The planned increase in corporation tax to 25% from April 2023 has been cancelled. Corporation tax will instead remain at the flat ...
Sep 2022 – Delays for VAT Groups
Setting up a VAT group can help to reduce administration costs, as transactions between the companies within the group are VAT-free and a single VAT return can be submitted for the whole group. However, HMRC has been taking months to react to requests to set-up, ...
Sep 2022 – Reporting COVID Grants
COVID grants provided to businesses from the furlough scheme, the self-employed scheme or Eat Out to Help Out are taxable. They need to be declared on the business’s corporation tax or income tax self-assessment return. The grants paid out by HMRC need to be declared ...
Sep 2022 – MTD for VAT sign-up
MTD for VAT is now compulsory for all VAT-registered businesses from their first VAT period that starts on or after 1 April 2022. There are two vital steps to take before the transition to MTD can be completed for those not already using MTD. Firstly, ...
Aug 2022 – Preparing for MTD for Income Tax
Self-employed individuals need to start thinking about how to prepare for the six reports per year they will need to submit to HMRC under the MTD for Income Tax Self-Assessment (MTD ITSA) regime. Most sole traders and landlords (not partnerships or companies) will need to ...
Aug 2022 – Helping your Employees
The cost of living crisis is hitting everyone, including small businesses. You are required to raise the wage rates of employees on the National Minimum Wage by 6.6% for pay periods starting from 1 April 2022, but some employees may still be struggling to make ...
Aug 2022 – Trivial’ Benefits for Directors
As a company director it very important to keep your personal money and the company’s money completely separate. If you use the company’s funds to pay your personal bills, that is treated as a loan to you for tax purposes. If you use the company’s ...
Aug 2022 – Employee benefits and expenses
Expenses and benefits provided to employees in the tax year to 5 April 2022 need to be reported to HMRC on a form P11D (or online equivalent) by 6 July 2022. HMRC has been discouraging employers from using paper P11D forms for some time and ...
July 2022 – Multiple Senior Hires for CN
As part of the ongoing development of the firm, Clarke Nicklin Chartered Accountants have expanded their Cheadle Royal based team earlier this year. The new appointments include Tax Manager John Crawford, Compliance and practice Manager, Beverley Richardson, as well as Accounts and Audit Assistant Manager, ...
July 2022 – Self-employed NIC
Most self-employed individuals pay Class 2 NIC (which provides entitlement to state benefits) and Class 4 NIC (which doesn’t). Traders with low profits may only pay Class 2 NIC, which is £163.80 for 2022/23. The profit levels from which both Class 2 and 4 NIC ...
June 2022 – NIC thresholds change in July
National Insurance Contributions (NIC) rates increased for everyone by 1.25 percentage points from 6 April 2022, but the thresholds from which employee NIC are payable are being raised significantly from 6 July 2022 (see table). This means that most employees will have more NIC deducted ...
