Coronavirus: Help for businesses and self-employed Many businesses and self-employed workers face a period of uncertainty and possible loss of income as a result of the coronavirus. The Government has announced a package of financial and other measures to help manage these impacts – including wage subsidies, business rates reliefs, statutory sick pay reliefs, small […]

Although there are no specific tax holidays or delays to the normal payment dates the general time to pay arrangements will apply to corporation tax and our feedback to date is that HMRC are being very flexible with these arrangements. If you cannot pay your tax bill on time All businesses and self-employed people in […]

This scheme will allow self-employed individuals to claim a taxable grant worth 80% of their trading profits up to a maximum of £2,500 per month for the next 3 months. This may be extended if needed. Who is eligible? You can apply if you’re self-employed or a member of a partnership and you: have submitted […]

This article was prepared by the Institute of Chartered Accountants offering some clarification of how the scheme will work. This is the ICAEW’s best interpretation based upon the information available from government.   Key policy objectives of the scheme Overall objective is to keep people at home while enabling employers to retain staff who will […]

First of all we hope that you and your family are all safe and well. Here at Balance Accountants we are working pretty much as usual although most our staff are now working from home. We have been working very hard to support our clients during these very difficult and trying times, providing advice and […]

We are looking for someone with at least 4 years’ experience of preparing year end accounts in a professional accountancy practice. If you have the necessary experience and are feeling undervalued, frustrated and without opportunity in your current role then Balance Accountants may have the job for you. The candidate should be experienced in accounts […]

For some of us the state pension age is fast approaching. Where that is the case you should receive a letter from the Pension Service, certainly no later than 2 months before you reach that milestone.  You do have to actually claim the state pension to receive it and how you do so is laid […]

If you are looking at buying your first home or know somebody else who is considering doing so, such as your children or grandchildren, then this Government backed savings scheme might be an option. This has been available since December 2015 and is aimed at first time buyers aged 16 or over who are looking […]

Completing VAT Returns Digitally Reporting of VAT goes digital from 1st April 2019. This is the first of the stages HMRC have put in place to take the tax affairs of individuals and businesses in the UK into the digital age. It will affect all businesses with a turnover of £85,000 or more (although some […]

The Pension Tax Charge can cause a surprise tax bill of up to £13,500 or as much as £13,800 for Scottish resident taxpayers. Any individual can make pension contributions of £2880 net or 100% of their relevant UK earnings but must be aware that this is limited by the annual allowance and that relevant earnings […]