News
A round up of our latest blogs, commentary or office news. Get in touch if you need more details on any of the topics covered.
Latest posts
Vacancy for a PA/Secretary
We have a vacancy for an experienced PA/Secretary to assist a Partner and their team, with a wide variety of secretarial and personal administrative duties, including contact with clients.
Making Tax Digital for Income Tax Self Assessment Update
Stuart Hulland, Partner at Bates Weston gives an update on the next phase of Making Tax Digital, MTD for Income Tax Self Assessment, now that the MTD VAT deadline has passed.
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.
Residential Property Developers Tax (RPDT)
The government’s consultation on a potential new tax, Residential Property Developers Tax (RPDT) closed last month. RPDT if enacted, will tax profits made from residential property developments from April 2022.
Business Advisory Service – driving your business forward
BW Insight Business Advisory Service uses real time digital business records to provide real time advice to drive business improvements.
Hydrogen Strategy
Government announces first ever UK Hydrogen Strategy as part of its plans for a green industrial revolution and to achieve Net Zero by 2050.
Making Tax Digital for Income Tax
How will making Tax Digital for Income Tax – MTD ITSA – affect your business? An explanation of HMRC’s current proposals.
Tax Administration Framework Review
The ICAEW comments on the Tax Administration Framework Review consultation which closed on 13 July 2021.
Reporting tax on self-employed profits
Consultation document proposes moving from a current (accounting) year basis to a tax year basis for reporting tax on self-employed profits.
NHS QR Codes and the NHS COVID Pass
Hospitality, leisure, tourism and close contact sectors encouraged to continue to use NHS QR codes and, in high risk settings to use the NHS COVID pass. NHS COVID Pass Verifier App launched at the weekend.
Trusts v Family Investment Companies
Are Family Investment Companies (FICs) the best way to preserve family wealth or do trusts still have the edge?
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