News Archive

Autumn Budget 2021 what we know so far

What do we know so far about the Autumn Budget 2021? The spending announcements, the expected cuts and the possible tax changes.

Regular check ups on the financial health of your business

Regular check ups on the financial health of your business, particularly on cashflow, let you spot and resolve potential problems before they become major issues.

Rishi Sunak and Capital Gains Tax

Did Rishi Sunak’s Conservative Conference speech give any clues about his plans for Capital Gains Tax?

HMRC delays Making Tax Digital for ITSA

Although the government has delayed its plans for the introduction of Making Tax Digital for ITSA (Income Tax Self-Assessment), Bates Weston urges self employed and landlords to make the move to digital record keeping sooner rather than later.

What VAT rate applies to the hospitality industry from 1 October 2021?

Supplies made by the hospitality industry that have been subject to a 5% VAT rate since July 2020, will become liable to 12.5% VAT between 1 October 2021 and 31 March 2022.

Health and Social Care Levy

A summary of the PM’s statement on Health and Social Care, the introduction of the 1.25% Health and Social Care Levy from April 2022 and the lifetime cap on care costs of £86k from Oct 2023.

Penalties for late submissions to HMRC

A recap of HMRC’s proposals to reform the penalties for late submissions to a points based system.

Chartered Institute of Taxation responds to HMRC’s consultation on basis period reform

A summary of the Chartered Institute of Taxation’s response to HMRC’s consultation on proposed basis period reform, allocating trading profits to tax years rather than accounting years.