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Applications now open for freeports

Applications now open for freeports

Businesses that are planning to operate in the UK's new freeports can now apply to HMRC. The tax authority has published the application forms to operate special customs procedures within the sites, along with further guidance on procedures for declaring goods moving...

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FSB warns tax rises ‘threaten recovery from pandemic’

FSB warns tax rises ‘threaten recovery from pandemic’

The Federation of Small Businesses (FSB) has warned that tax rises could threaten the UK's ongoing recovery from the Covid-19 pandemic. According to the FSB, small businesses are coming up against 'unprecedented strain', with the cost of doing business higher than...

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Payment period on residential CGT is doubled

Payment period on residential CGT is doubled

The government has doubled the period for filing and payment of capital gains tax (CGT) on residential property from 30 days to 60 days. The measure was announced by Chancellor Rishi Sunak in the recent Autumn Budget. The change applies from 27 October 2021. It sees...

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Business groups give mixed response to Budget

Business groups give mixed response to Budget

Business groups gave a mixed response to Chancellor Rishi Sunak's 2021 Autumn Budget speech. Responding to the speech, the Confederation of British Industry (CBI) said that the Chancellor had shown a willingness to listen to business with measures that will help firms...

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Chancellor admits it will be challenging to hit Budget targets

Chancellor admits it will be challenging to hit Budget targets

Tax rises Chancellor Rishi Sunak has acknowledged that hitting the targets in his new Budget will be a challenge but has reassured MPs that taxes will be lowered before the next election. He also advised that raising taxes was the ‘last thing’ he ever wanted to do as...

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More than 40 countries pledge to phase out coal at COP26

More than 40 countries pledge to phase out coal at COP26

In the latest news from COP26 in Glasgow, more than 40 countries have agreed to quit coal-fired power. Coal is the single biggest contributor to climate change and there have been calls for countries to switch to clean energy for many years now in the fight against...

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Millionaires call on Rishi Sunak to raise their taxes

Millionaires call on Rishi Sunak to raise their taxes

A group of 30 millionaires have petitioned Chancellor Rishi Sunak to introduce a ‘wealth tax’ whereby the richest, and therefore those most able to afford it, are the ones who pay most towards the Covid recovery. The group published an open letter to Sunak which...

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Autumn Budget 2021: In Summary

Autumn Budget 2021: In Summary

Chancellor Rishi Sunak unveiled his Autumn Budget on 27th October to the House of Commons. He has set out his plans for the forthcoming year and stressed that we are now in the ‘post-Covid’ era, and his Budget would pave the way for an "economy of higher wages, higher...

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The rise of fraud during the COVID-19 Pandemic

The rise of fraud during the COVID-19 Pandemic

During the COVID-19 Pandemic, the UK Government introduced many schemes to help people and businesses weather the storm caused by the lockdown restrictions. An unpleasant side effect of this government support has been considerably more opportunities for fraudsters to...

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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.

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Making Tax Digital: Current and upcoming rules

Making Tax Digital (MTD) is a government initiative to ensure individuals and businesses get their tax right and stay on top of their affairs. MTD has three main incentives to transform the way the tax system works: make it more effective, more efficient, and easier...

Energy firm Bulb enters administration as crisis continues

On 22nd November, Bulb Energy entered administration. Bulb is the most recent and far largest UK based casualty of the international energy crisis. The collapse of Bulb will no doubt cause great concern for those affected by rising energy prices and does not bode well...

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