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The difference between a statutory audit and a tax audit

The difference between a statutory audit and a tax audit

Audits are an extremely important part of business accounting and provide a lot of benefits. There is also a range of different types, each conducted for different reasons and to gather different results. For example, a business can request an audit, which will be...

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800,000 claim tax relief for working from home

800,000 claim tax relief for working from home

HMRC has confirmed that almost 800,000 employees who have been working from home during the pandemic have already claimed tax relief on household related costs. The saving is worth up to £125 per year for each employee, and eligible workers can claim the full year's...

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440,000 tax credit claimants still to renew their claims

440,000 tax credit claimants still to renew their claims

HMRC is reminding tax credit claimants that they have until 31 July 2021 to renew their claims. According to HMRC, 440,000 claimants have yet to renew their claims. More than 2.5 million annual tax credits packs were posted to claimants between late April and early...

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Over 280,000 families now using Tax-Free Childcare

Over 280,000 families now using Tax-Free Childcare

More than 282,000 working families used a Tax-Free Childcare (TFC) account during March 2021, according to figures from HMRC. HMRC stated that it is the highest recorded number of families in any one month since the scheme was launched in April 2017. These families...

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Schemes create one stop shop for VAT on EU trade

Schemes create one stop shop for VAT on EU trade

Three schemes were launched on 1 July to deal with VAT on business-to-consumer supplies of goods and services to EU customers. They are known as the 'Union', 'non-Union' and 'import' schemes. The schemes are designed to facilitate the collection of VAT by one EU...

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Property tax changes

Property tax changes

From 1 July 2021 there are changes to the Stamp Duty Land Tax (SDLT) and Land Transaction Tax (LTT) bands for residential property. SDLT is payable by the purchaser in a land transaction occurring in England and Northern Ireland. The following rates and thresholds...

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Apprenticeship cash boost

Apprenticeship cash boost

The government has confirmed that employers of all sizes in England can now apply for £3,000 in extra funding to help them take on new apprentices. The boost to the apprenticeship incentive scheme was confirmed by Chancellor Rishi Sunak in the Budget in March. The...

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Furlough scheme starts to wind down

Furlough scheme starts to wind down

The government's Coronavirus Job Retention Scheme (CJRS) begins winding down from 1 July. The latest data from the Institute for Fiscal Studies (IFS) shows that at the end of April 3.4 million jobs were still on furlough so the change to the furlough scheme will...

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Forms P11D – reporting employee benefits

Forms P11D – reporting employee benefits

The forms P11D which report details of benefits and some expenses provided to employees and directors for the year ended 5 April 2021, are due for submission to HMRC by 6 July 2021. The process of gathering the necessary information and completing the forms can take...

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Advisory fuel rates for company cars

Advisory fuel rates for company cars

New company car advisory fuel rates have been published and took effect from 1 June 2021. The guidance states: 'You can use the previous rates for up to one month from the date the new rates apply'. The rates only apply to employees using a company car. The advisory...

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Trade credit insurance scheme to close

Trade credit insurance scheme to close

The temporary Trade Credit Reinsurance (TCR) scheme that helped struggling supply chain firms secure insurance protection during the pandemic will close at the end of June, it has been confirmed. In a statement, the government and the Association of British Insurers...

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Welcome

As well as providing businesses across Liverpool, Manchester, the surrounding areas of Preston, Bury, The Wirral and the rest of the North West with high-class accounting, tax and advisory services, the chartered, certified accounts here at Williamson & Croft want to educate people on topics that relate to accounting, tax and VAT. So with that in mind, we’ve set up an FAQ page to help you find the answers to some commonly asked questions.

We hope you find what you're looking for on this page. However, if you don't find the answer to your question on this FAQ page or want more information about our accountingtax or advisory services and how our team can help you, then be sure to get in touch online or give us a call on 0161 3990121 today.

About Us

Since our inception, this local firm has been passionate about giving expert advice with the goal of becoming one of the best accountancy service providers in Manchester, Liverpool and the rest of England and Wales. The end goal? To become a local accountancy firm that helps business owners increase their average profit, beat their competitors, implement firm foundations and reward their dedicated, hard-working teams while building robust businesses with a great corporate culture that supports everyone.

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Williamson & Croft is a market leading accountancy, advisory and tax firm with particular specialisms in property, construction, retail, digital and creative, technology and professional services.

News

The difference between a statutory audit and a tax audit

Audits are an extremely important part of business accounting and provide a lot of benefits. There is also a range of different types, each conducted for different reasons and to gather different results. For example, a business can request an audit, which will be...

800,000 claim tax relief for working from home

HMRC has confirmed that almost 800,000 employees who have been working from home during the pandemic have already claimed tax relief on household related costs. The saving is worth up to £125 per year for each employee, and eligible workers can claim the full year's...

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0161 399 0121

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0151 303 3112

Avenue HQ Liverpool, 17 Mann Island, Liverpool L3 1BP

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