Relaxation of late tax return filing penalties

HM Revenue & Customs (HMRC) has announced that it will be relaxing the late filing and late payment penalties, as it did for the 2019-20 season. This is summarised below: The last day to submit online returns: The statutory deadline is 31 January 2022 The revised deadline to avoid penalties is 28 February 2022 The […]

Recruitment sector awards: stand out from the crowd

We are in awards season, with the APSCo Awards for Excellence and the Recruitment International (RI) Awards taking place in October. Recruiter and Global Recruiter magazines and the REC also lay on very popular awards functions during the year. That’s not to mention the many general business awards that exist on a national and local […]

Hong Kong’s tax and visa regimes for inbound foreign nationals

Hong Kong is well known to tourists for its iconic skyline and diverse ‘East meets West’ culture, but as one of the world’s leading financial centres, the former British colony has also long been an attractive city for the relocation of businesses and expatriates. The following article was contributed by Vickie Fan, Managing Partner, Fan […]

The factors that enable a business to grow

Every business was once a start-up with only a handful of customers. Whilst some businesses succeed and others will fail, success is often measured in terms of size and scale. There are those companies that will plateau, whilst others will grow into large, profitable organisations. In this article we consider some of the factors that […]

Tax incentives for charitable giving

Many of us are keen to support charitable causes, either during our lifetimes or by including bequests in our wills. A number of tax reliefs are made available to incentivise taxpayers to donate to charity – Gift Aid being the most commonly used income tax relief. This article considers the various options available and the […]

The Requirement to Correct brings significant penalties

Following the increased push for financial and tax transparency, the government introduced a ‘Requirement to Correct’ (RTC) existing offshore non-compliance by 30 September this year. Where HMRC discovers historic non-compliance after 30 September – including as a result of information they receive under the Common Reporting Standard (CRS) – it will seek to collect not […]

The future is in the cloud: cloud accounting

In recent years the cloud accounting market has exploded, with a vast array of options now available. In essence, when you are using cloud accounting you are using the internet to access your accounting software and the data you have stored on it. Unlike traditional accounting software that is installed only on a business’ servers, […]

Dealing with a visit from the VAT inspector: Top 10 tips for rural businesses

Barring the unannounced dawn raid and the unexpected early morning knock on the front door, for which no planning is possible, there are a number of steps that can be taken to ease a planned visit from the VAT inspector. Here are 10 important pieces of advice which you should heed: 1. Plan ahead HM […]