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Top Accountants in Sutton Coldfield News

Mandatory Payrolling of Benefits in Kind Delayed by HMRC - Rotherham Taylor Chartered Accountants
Taxes · United Kingdom

Mandatory Payrolling of Benefits in Kind Delayed by HMRC - Rotherham Taylor Chartered Accountants

100% Center coverage: 1 sources
The delay to payrolling Benefits in Kind (BIK) to 2027 may seem like a cause of relief for many businesses who are concerned about the extra responsibility the changes will bring, but employers should still prepare for this landmark change. Rather than filing an annual P11D form, the changes to payrolling BIK will force businesses to complete additional admin every month. Though the 2027 deadline may seem far off, it is worth preparing now, as t…See the Story
Kittel VAT: How to Control the Uncontrollable - Rotherham Taylor Chartered Accountants
United Kingdom · United Kingdom

Kittel VAT: How to Control the Uncontrollable - Rotherham Taylor Chartered Accountants

Receiving a Kittel VAT notice is something that many businesses dread. HM Revenue and Customs (HMRC) can demand the repayment of tax already reclaimed, and this can sometimes amount to a significant amount of money. The notice comes when a trader “knew or should have known” their transaction was linked to fraudulent evasion of VAT. This makes it ineligible for a deduction of input tax. Kittel VAT can seem like an ever-present threat hanging over…See the Story
Increased Borrowing Could Mean Increased Taxes, Experts Warn - Rotherham Taylor Chartered Accountants
Taxes · England

Increased Borrowing Could Mean Increased Taxes, Experts Warn - Rotherham Taylor Chartered Accountants

Public borrowing hit £20.5 billion in April, the highest level for that month since 1993 and nearly £3 billion above forecast. Economists warn the Chancellor may have little choice but to plug the gap with tax rises, spending cuts or changes to fiscal rules if elevated levels of borrowing persist. While nothing is confirmed, several areas are drawing speculation. Income Tax Extending the Income Tax threshold freeze beyond 2028 could push million…See the Story

How to Prepare for an Unexpected Economic Recovery - Rotherham Taylor Chartered Accountants

The International Monetary Fund (IMF) has upgraded the UK’s 2025 GDP growth forecast to 1.2 per cent, citing a strong first-quarter performance and signs of a recovering economy. The official figures indicate that increases in customer spending and business investment have contributed to this economic growth. These early signs of recovery present an opportunity to reassess your strategy and position your business for growth. Economic recovery st…IMF · United KingdomSee the Story

The Liberals Are Not Just Going Through a Phase – This Is a Full-Blown Identity Crisis

67% Left coverage: 3 sources
The party is not in good health. Sussan Ley’s main challenge is to ensure the party understands just how much trouble it is in.Politics · AustraliaSee the Story

Too Many Sole Traders Are Still Missing Out on Their State Pension - Rotherham Taylor Chartered Accountants

How much State Pension you get depends on your National Insurance (NI) record when you reach the State Pension age. Gaps in your NI record could affect how much you receive. Unfortunately, too many sole traders are still missing out on the full State Pension due to a range of factors. Why are National Insurance Contributions important? A full State Pension requires 35 years of NI contributions or credits. Missing even a few years can have a sign…United Kingdom · United KingdomSee the Story

National Insurance hike spurs surge in off-the-books payments risk

The hike in employer National Insurance (NI) raises the possibility that businesses would make off-the-books cash payments to employees, according to a Stormont Department of Finance research.Taxes · United KingdomSee the Story

How HMRC treats cryptoassets disposed of by businesses - Rotherham Taylor Chartered Accountants

Cryptoassets make up a growing portion of the market, and businesses are increasingly looking to take advantage of these digital currencies.  If your business carries out activities involving the exchange of cryptoassets, then you are liable to pay tax on them.   However, understanding how HM Revenue & Customs (HMRC) treats cryptoassets for tax purposes can be tricky.  Here is what you need to know about how HMRC taxes cryptoassets for corporate…Taxes · EnglandSee the Story

HMRC is closing its free Company Tax Return service - Rotherham Taylor Chartered Accountants

HM Revenue & Customs (HMRC) will permanently close its free service for submitting Company Tax Returns and annual accounts on 31 March 2026.   Built over a decade ago for simpler businesses, the platform no longer meets modern digital standards.   Companies must now move to commercial filing software to remain compliant.  This software provides more modernised features, including:  Error checks before submission  Filing to both HMRC and Compan…England · EnglandSee the Story

Joint owners of Furnished Holiday Lets prepare for increased taxes - Rotherham Taylor Chartered Accountants

With the abolishment of the specific tax considerations for Furnished Holiday Lets (FHL) from the beginning of the current tax year, owners need to prepare for higher tax bills.   Given that couples and joint owners of FHL benefited from specific considerations, they may find themselves uniquely impacted by the changes.   To avoid being hit with a surprise bill, it is worth understanding the changes and what can be done about them.  How have the…Property · United KingdomSee the Story

Beware tax avoidance scheme promoters – HMRC cracks down with new powers - Rotherham Taylor Chartered Accountants

Recent Government estimates suggest that as much as £1.8 billion is lost every year due to tax avoidance schemes.   That money, designated to fund schools, hospitals and other essential services, is in part, leading the Government to borrow more than expected.   As a result, HM Revenue & Customs (HMRC) is being given additional powers to crack down on tax avoidance and protect the public purse.   What new powers will HMRC have?  The focus of the…London, England · LondonSee the Story

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