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Almost 100% of OMBs Across the South Coast Say Rising Costs are Impacting Profitability With Inflation Still Out of Control

Almost 100% of OMBs across the South Coast say rising costs are impacting profitability with inflation still out of control  

13 Dec 2022 Read more
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What is a General Partnership?

The Partnership Act 1890 defines a General Partnership, otherwise commonly known as an Ordinary Partnership or Business Partnership, as two or more individuals ‘carrying on a business in common with a view of profit’.   

23 Nov 2022 Read more
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Michael Warner & Company Merges with Moore (South) Chartered Accountants and Business Advisers

We are delighted to announce that, with effect from 1 November 2022, Winchester based accountancy firm, Michael Warner & Company, has merged with Moore (South) Chartered Accountants and Business Advisers.

21 Nov 2022 Read more
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Autumn Statement 2022: Key Highlights

Key Highlights from the Chancellor’s Autumn Statement 2022:  Personal taxes  Income tax   It was confirmed that the current personal allowance (£12,570) and the thresholds for the upper limit of the basic rate tax band (£50,270) and the amount at which the personal allowance starts to taper away (£100,000) will all remain unchanged until 5 April 2028.

17 Nov 2022 Read more
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Tax Diary November/December 2022

1 November 2022 - Due date for Corporation Tax due for the year ended 31 January 2022. 19 November 2022 - PAYE and NIC deductions due for month ended 5 November 2022. (If you pay your tax electronically the due date is 22 November 2022.)

27 Oct 2022 Read more
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How to register for the new VAT registration service

As part of Making Tax Digital for VAT, VAT registrations have changed. The way businesses register for VAT changed on 1 August 2022. A new VAT Registration Service (VRS) has been created to manage the process.

27 Oct 2022 Read more
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What to do if you have received suspicious contact from HMRC

Criminals claiming to be from HMRC have targeted individuals by email, text and phone with their communications ranging from offering bogus tax rebates to threatening arrest for tax evasion. Contacts like these should sound alarm bells – HMRC would never call threatening arrest.  

27 Oct 2022 Read more
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How much can I gift staff for Christmas tax free?

Business owners who are minded to celebrate the forthcoming Christmas break with their staff are reminded that there is a tax-free allowance for the provision of an annual party or other event for the benefit of staff and their partners. The present limit to tax relief is £150 per head. If this amount is exceeded, the full cost of the benefit is taxable not the excess over £150.  

26 Oct 2022 Read more
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Off Payroll Working update: Repeal of off payroll working rules scrapped.

It was announced last Monday by the chancellor that the planned repeal of the off payroll working rules is not going ahead. This means that organisations subject to the rules must continue to apply the off payroll working rules beyond April 2023.

24 Oct 2022 Read more
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How will Making Tax Digital for Income Tax affect Landlords?

Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) is set to impact Landlords with a gross income of more than £10,000 a year from property from 6 April 2024. Landlords will need to be prepared for the coming tax changes well before the required switch date to avoid any issues and/or penalties.

24 Oct 2022 Read more
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Almost all tax cuts announced in the mini-Budget have been reversed

Following on from the previously announced U-turns on Corporation Tax and the top rate of income tax, new Chancellor Jeremy Hunt has today announced plans to scrap ‘almost all’ the tax cuts announced in the ‘mini-Budget’ on 23 September.

17 Oct 2022 Read more
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Are you prepared for Making Tax Digital for Income Tax Self Assessment?

Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) is HMRC’s second phase of digitalising the UK tax system. It will impact self-employed individuals and landlords with a taxable income above £10,000 from April 2024. 

14 Oct 2022 Read more
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