Latest News from Davies Archytas Accountants Redditch
Stay up to date with accountancy news, events and key insights from within the financial & accounting industry from Davies Archytas, Redditch based Accountants.
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At Davies Archytas we will continue to work with our clients, old and new to support them with the Making Tax Digital roll out.
We’re fully committed to being ready for the next stages of Making Tax Digital, including MTD for VAT in 2022 and MTD for Income Tax Self Assessment in 2023.
#makingtaxdigital #mtd #tax ...
Two thirds of drivers say that scrapping #VAT from the purchase price would be the most influential policy to help drivers buy an electric vehicle, finds a survey by motoring organisation AA.
What are your views?
Talk to us about the benefits of company electric cars
The Office of Tax Simplification (OTS) is to explore changing the end of the tax year from 5 April to either 31 March or the end of the calendar year.
We'd love to hear your views on this in the comments.
#OTS #taxyear #tax ...
Those who export goods to EU customers face the biggest
upheaval, with VAT exemptions for SMEs and shipments of
€22 or less being removed.
UK small firms will lose exemptions for small consignments,
while those within the bloc making cross-border sales under
€10,000 a year will continue to enjoy [tax] breaks.
Exporters who use online platforms, such as Amazon or eBay,
can now register for VAT in the country where they sell most of
their goods, which the European Commission estimates will cost
up to €8,000.
Alternatively, it’s possible to subcontract VAT to the online
platforms they use to sell their goods, or ask the postal
service to handle VAT.
Small businesses could claim up to £2,000 each through the
Brexit Support Fund, which closed on 30 June 2021.
Contact us if this VAT reform affects your busines ...
Should employers shift towards greener vehicles?
Sign up to our latest newsletter to get advice on the pros and cons of a company electric car. Simply click here:
#electriccar #companycar ...
Have you submitted your June furlough claims? If you haven’t submitted them yet, you must do so by the deadline of Wednesday 14 July.
For June you can claim 80% of your furloughed employees' usual wages for the hours not worked, up to a cap of £2,500 per month.
#furlough #accounts #furloughedemployees ...
Let’s start with a note on the stamp duty land tax holiday. The
temporary £500,000 tax-free threshold in England and Northern
Ireland no longer applies.
Until 30 September 2021, no stamp duty will be paid on the
first £250,000 of residential purchases in England and Northern
Ireland. Landlords and second-home buyers can benefit from
this, albeit with a 3% surcharge.
To qualify, the deal must be completed before the end of
September. So if you were just starting out now, you should be
able to benefit assuming you’ve got everything ready to go and
the process runs smoothly.
Get in touch for tax-planning advice. ...
The P11D deadline is on Tuesday 6th July.
You have a legal obligation to report any expenses and benefits to HMRC at the end of the tax year.
Your P11D must be filed by 6 July for the previous tax year, and any taxes must be paid by 22 July.
#P11D #tax #accountant #accounts ...
To support those who’ve delayed their customs import declarations, HMRC explain the steps you need to take before you can make a supplementary declaration and how intermediaries can help you do this.
You can register to take part if you’ve imported goods since 1 January 2021 and not yet completed a customs declaration for them.
Click here to register: register.gotowebinar.com/rt/4766108443388786447?source=July-HMRC-DCS-Trans-VAT-1 ...
Did you know that if you are self-employed and work from home you can claim a proportion of the costs of your household bills for things like lighting, heating, cleaning, broadband and insurance.
#expenses #selfemployed #homeworking #homeworkers
Talk to us about this, we can explain - email@example.com ...
Costs relating to cars, vans and travel #expenses are all allowable, unless they’re not related to the business, for example your commute to work or when you’ve been fined, perhaps for a speeding or parking misdemeanour.
#travelexpenses #accounts #Taxreturn #tax #companyexpenses ...
A word of warning about scams
HMRC have made us aware of recent increases in scam phone calls, emails and texts. If someone contacts you or your employees claiming to be from HMRC saying that you owe tax and face arrest, are due a tax refund, that your National Insurance number has been compromised or asking you to transfer money or give bank details, it is likely to be a scam.
Search GOV.UK for the HMRC 'scams checklist' and to find out how to report tax scams - www.gov.uk/guidance/identify-hmrc-related-scam-phone-calls-emails-and-text-messages
We hope this information helps you and your business, and we’ll continue to keep you updated.
#taxscam #accounts #accountancy ...
Research and Development Tax Credits are a UK tax incentive designed to encourage companies to invest in R&D.
Companies can reduce their tax bill or claim payable cash credits as a proportion of their R&D expenditure.
📞 Talk to us about R & D Tax Credits, we can answer any questions you may have.
#RandDtax #taxcredits #researchanddevelopment #accountant #tax ...
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Read informative articles on personal and business accounts good practice, tips and current Covid-19 support.
Simply click here to sign up: mailchi.mp/1ec39f00691e/davies-archytas-accountants-monthly-newsletter-sign-up ...
For businesses in the hospitality and leisure sectors that use premises, the business rates holiday expires at the end of this month. From 1 July 2021 until 31 March 2022, business rates will be charged at a reduced 34%. You will be able to claim this as an allowable expense in 2021/22.
#hospitality #leisureindustry #accounts #business #businessrates #allowableexpenses #accounts #accountant ...
Just a reminder that the deadline of 21st June 2021 for the VAT Deferral Scheme is looming if you haven’t taken advantage of this already.
#VATdeferralscheme #VATdeferral #accounts #businessaccounts ...
With COVID-19 likely to subdue the amount of allowable expense claims in 2020/21 tax returns, there’s no time like the present to get started on yours.
It’s more pressing if you submit a paper return, with a midnight deadline on 31 October 2021. For digital returns, the deadline is midnight on 31 January 2022.
There’s no reason why you can’t get ahead of the game and file your return. Share your 2020/21 records with us and we can take it from there.
Talk to us about your tax return - firstname.lastname@example.org
#allowableexpenses #accounts #businessaccounts #accountant #taxreturn ...
Why not join us at our next meeting as a visitor?Great meeting this morning, we are always looking for new businesses to join our successful, supportive networking group.
Why not listen to what Bobs Members have to say by clicking here:
To book at our Bromsgrove club click here: www.bobclubs.com/Club/Bromsgrove ...