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MPs call for road pricing to replace motoring taxes

MPs call for road pricing to replace motoring taxes

The government must overhaul motoring taxes as it phases out new diesel and petrol vehicles, according to MPs. MPs on the Transport Committee say the government must come up with new policy options by the end of the year. A ban on the sale of new diesel and petrol...

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HMRC raises late payment interest rate to 3%

HMRC raises late payment interest rate to 3%

Following the decision by the Bank of England to increase the base rate, HMRC has confirmed that the late payment interest rate rose a quarter of a percent. The increase applies from 14 February 2022 for quarterly instalment payments and from 21 February 2022 for...

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Two freeports planned for Scotland

Two freeports planned for Scotland

A partnership agreement to establish two green freeports in Scotland has been reached between the Scottish and UK governments. The locations for the freeports have not yet been decided and there will be an application process with a view to setting up the freeports in...

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Coronavirus SSP Rebate Scheme closed as of 17 March

Coronavirus SSP Rebate Scheme closed as of 17 March

The Statutory Sick Pay Rebate Scheme (SSPRS) has closed as of 17‌‌‌ ‌March‌‌‌ ‌2022. The SSPRS was reintroduced by the government on 21 December 2021 for employers with fewer than 250 employees. The maximum claim per employee is two weeks at the statutory sick pay...

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Spring Statement is the time to act, says CBI

Spring Statement is the time to act, says CBI

The Chancellor must act at the Spring Statement or risk the UK economy drifting backwards to low growth, warns the Confederation of British Industry (CBI). The Spring Statement will take place on 23 March 2022. The CBI has set out a range of policies it says are aimed...

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Help to Grow: Digital

Help to Grow: Digital

Digital software The Government have implemented a scheme to help small and medium-sized UK businesses buy and adopt digital technologies to improve productivity. The Help to Grow: Digital website provides all businesses with free and impartial information and support...

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Purchasing a car and recovering the VAT

Purchasing a car and recovering the VAT

Requirements for VAT recovery If you are considering purchasing a car for business purposes and recovering the input VAT, it is important to consider the requirements and to ensure you are meeting HMRC’s conditions. The two main conditions which must be met are: The...

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Tax planning tips for year-end

Tax planning tips for year-end

Are you prepared? It is just under a month until the end of the tax year, and so it would be prudent to start considering your tax planning. Please see below for our handy list of tips which can guide you to ensure you are making the most of your money and saving on...

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Williamson & Croft promote new Tax Partner

Williamson & Croft promote new Tax Partner

North West based accountants and tax advisors Williamson & Croft are pleased to announce the promotion of Chris Watson to Tax Partner. Chris has been with the company since July 2020 as Tax Director and has become an invaluable member of the team. He has over 10...

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Government plan to reform Companies House requirements

Government plan to reform Companies House requirements

What are the new rules? The UK government has set out plans to reform governance at Companies House to stop manipulation of the service, particularly in the use of anonymous or fraudulent shell companies and partnerships. Companies House is planning to ‘change its...

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News

New law to protect access to cash announced in Queen’s Speech

New laws to protect access to cash and help victims of financial scams were announced in the Queen’s Speech at the state opening of parliament on 10 May. The new Financial Services and Markets Bill will ensure the continued availability of withdrawal and deposit...

Number of firms in critical financial distress rises sharply

A growing number of UK businesses are at risk of going under as costs spiral and Covid loan repayments become due, according to a report from insolvency firm Begbies Traynor. Although COVID restrictions have been lifted, some firms are still feeling the impact of...

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