Holidays at commercial rates have been one of the most effective COVID-19 support measures for the retail, hospitality, and leisure industries. Around 400,000 companies in the hospitality and leisure sectors have benefited from holidays at 100% commercial rates during the last 15 months, as part of the Treasury’s coronavirus assistance program. Commercial Tariff Relief In …
Your UTR number is something HMRC uses to identify you as a taxpayer. UTR stands for Unique Taxpayer Reference (Number). HMRC sends you a UTR number when you sign up for the self-assessment (essentially, when you inform HMRC that you are earning tax-free income). Here are some of the scenarios in which you may need …
Well, iIt enables a company to track all of its transactions and understand how it is doing in terms of profitability, cash on hand, and business growth. It also supports all of the ongoing reporting and filing obligations that companies have – sales tax returns, annual financial statements, tax returns, etc., which are all based …
Are you an individual trader and want to expand? Hiring people to help you run the business is the logical next step in ensuring future growth. Many people wonder how this affects their sole proprietorship. So are you allowed to work as a sole trader or do you have to start a business? Do I …
As a self-employed sole trader, getting the most tax breaks possible will undoubtedly be one of your top priorities. All one-man gangs pay taxes on their hard-earned winnings. As a self-employed person, you don’t want to pay more taxes than necessary. In this guide, we will help you make sure that you, the retailer, are …
So Has the Self-Assessment Tax Deadline Been Extended? Still there is no late filing penalty for self-assessment for those filing tax returns online before February 28th, in the UK. Self-assessment tax filers who are unable to file their tax return by January 31, 2021 will not receive a late filing penalty if they file …
Will the Deadline for Self-Assessment Tax Be Extended? Good News for the UK tax filers, affected by Covid-19. HMRC has announced that if some has been affected coronavirus in his/her personal or professional life, it will accept this as a “reasonable excuse” for missing the January 31 registration deadline. However, HMRC is vague, …
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What is an Annual Financial Statement? If you are a company director or an accountant then there are few things you should know about the company annual financial statement. The information contained in this type of document is important for the shareholders and the company as a whole. Many directors often make the mistake …
Accounting Services: Why We Need Them for Successful Business Operations Accounting services are a broad category that can vary greatly from company to company. There are many common features that most accountants share, but it is important to get an accountant who understands your unique needs so you can maximize the services provided. You want …
The UK’s Coronavirus Furlough Scheme – Extended Still fighting against Coronavirus pandemic, the British government has decided to extend the coronavirus job retention plan for one month, until the end of April next year. The plan, which paid up to 80% of the salaries of around 9.5 million people (for £ 41.4 billion) in March …
