Companies House holds the new Register of Overseas Entities, which requires overseas entities that own land or property in the UK to declare their beneficial owners and/or managing officers. Those who do not comply will face severe penalties, including restrictions on buying, selling, transferring, leasing, or charging their land or property in the UK. The...
What is QuickBooks Online? QuickBooks Online is cloud-based accounting software that provides various services, including financial reporting, bespoke invoices, multiple currencies, inventory management, and over 650 integrations. Furthermore, QuickBooks online provides more advanced features like automatic sales receipts, scheduled invoices, and split transactions that you can’t avail of yourself with a traditional desktop version....
What are Abridged Accounts? Abridged accounts are a reduced version of a company’s annual accounts; they cover comparatively less information than full-fledged accounts and exclude the profit and loss account. It is a fundamental principle that companies with limited liability protection should be required to make certain information publicly available. The ability of the...
Tax Year-End Changes – In June 2021 Office of Tax Simplification (OTS) issued a review summarizing the potential impact of changes in the tax year-end date on taxpayers, its costs, benefits, and long-term implications. It also considers the short-term proceedings to facilitate the launch of Making Tax Digital (MTD) for income tax. UK’s...
National Insurance Contribution Tax Changes UK 2022 The UK Government has announced temporary changes in the tax rates and thresholds for National Insurance Contribution, PAYE, National Minimum Wage, Maternity and Paternity pay, Employment Allowance, and others. Unless stated otherwise, the following changes are applicable from 6 April 2022 to 5 April 2023. ...
Mr. Sunak, the British Chancellor in his spring statement 2022 has made certain announcements that may have a bearing on the cost of living of households. However, this year Mr. Sunak faces pressure due to the increasing inflation levels to act on cost-of-living. His spring statement 2022 has resulted in rising household bills and...
What was Brexit? The United Kingdom commenced its departure from the European Union of which it had been a member state since 1973 called Brexit. In a referendum held on 23 June 2016, the UK electorate voted to leave the EU and officially left the EU on 31 January 2020; the remaining of...
Clydesdale Bank has started a range of 90% LTV deals exclusively through brokers. The lender is also chopping rates on other residential products. The new 90% LTV deals include a free valuation for purchase and remortgage customers. Moreover, the deals come with free legals for remortgage customers. Looking for a mortgage broker in Leeds? Please...
The UK government has opened the £20 million SME Brexit Support Fund for applications from 15 March. This support fund will support small businesses with reforms to trade rules with the EU. Smaller businesses can apply for grants of up to £2,000 to help them adapt to new customs and tax rules when trading with...
The government has published the details of the Finance Bill 2021 on 11 March 2021. The Bill highlights the important law measures(announced in the recent 2021 Budget) set to come into legislation. Chancellor Rishi Sunak announced the following measures in his budget speech: an extension of the stamp duty holiday in England a super-deduction capital...
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Copyright by CareAccountancy. All rights reserved.
