The temporary 5% reduced rate of VAT introduced for certain children’s meals, tickets and family attractions ended on 1 September 2026. The relief applied from 25 June 2026 and was intended to reduce the cost of selected activities and services for families during the summer holidays. The relief covered qualifying children’s meals
More...HMRC is currently carrying out its annual reconciliation of PAYE for the 2025-26 tax year. Between June and November, HMRC calculates the Income Tax paid by individuals and checks whether the correct amount has been collected. Where HMRC identifies a difference, it may issue a tax calculation letter, known as a P800. If you receive a
More...UK employers with employees who normally work overseas may have PAYE and National Insurance obligations when those employees come to the UK to carry out their duties in the UK on a short-term basis. Employers should consider the position whenever an overseas employee visits the UK to work. The fact that the employee remains employed and
More...Businesses planning major infrastructure and development projects should be aware of a new government consultation on the tax treatment of predevelopment costs. The consultation follows the conclusion of recent litigation at the Supreme Court. The Court found that certain early-stage surveys and studies for offshore wind farms did not
More...The tax rules concerning what constitutes a distribution for tax purposes have remained largely unchanged since Corporation Tax was introduced in 1965. HMRC has recently published a consultation looking at possible changes to bring the rules more closely into line with modern commercial practices. The consultation considers seven areas
More...A strong VAT control system should clearly identify who is responsible for VAT, document the processes involved and regularly check that controls are working. HMRC also recommends keeping procedures up to date when the business, its systems or the VAT rules change. Businesses should also review how VAT data moves through their systems.
More...Where an employee is promised a discretionary bonus as an incentive, an employer may be held liable for the full figure if the preconditions have been met and the chain of authorisation is fully satisfied. Indeed, a recent ruling by a tribunal has made it clear that employers cannot unilaterally alter the preconditions or quantum of a
More...The latest figures from the Office for National Statistics suggest that conditions remain challenging for many UK businesses. In July 2026, 15% of trading businesses reported an increase in turnover compared with the previous month. However, 22% reported that turnover had fallen. Economic uncertainty remains an important concern, while
More...An important change is coming to the way companies file their annual accounts. From 1 April 2028, all UK-registered companies will be required to file their annual accounts with Companies House using commercial software. The existing web and paper filing routes for company accounts will close. The change will affect companies that
More...Businesses that register for VAT may be able to reclaim VAT paid on certain goods and services purchased before VAT registration. There are specific time limits for claiming pre-registration VAT. VAT on goods can generally be reclaimed where the goods are still held by the business or have been used to produce other goods that are still
More...Missing a tax deadline can result in penalties from HMRC, but a taxpayer may be able to appeal if they have a genuine reasonable excuse. Whether an excuse is accepted depends on the individual facts and whether the taxpayer took action to put things right without unnecessary delay. HMRC does not provide a complete list of acceptable
More...Employers providing uniforms or protective clothing to employees need to understand the tax and National Insurance rules that apply. The treatment depends on whether the clothing is required for the employee’s job, is a uniform worn only at work, or is simply additional clothing provided by the employer. Most uniforms and protective
More...Businesses investing in qualifying assets may be able to claim the Annual Investment Allowance (AIA) and deduct the full cost of eligible purchases from their profits before tax. This can help by reducing the amount of taxable profit in the period the investment is made. The AIA can generally be claimed by sole traders, companies and
More...Businesses should regularly review whether individuals working for them are correctly classified as employees, workers or self-employed. Getting employment status wrong can result in unexpected tax liabilities, penalties and loss of employment rights. Employment status affects both the rights of the individual and the responsibilities of
More...Self-employed individuals can deduct allowable business expenses from their income when calculating taxable profits. However, businesses must keep accurate records and evidence to support the costs being claimed. HMRC requires taxpayers to keep proof of business expenses, although evidence does not usually need to be submitted with a
More...Cybercrime is no longer a problem that only affects large organisations. Increasingly, small and medium-sized businesses are becoming targets because criminals often see them as having weaker security and fewer resources to recover from an attack. A successful cyberattack can have serious consequences. Customer information may be stolen,
More...Employment law continues to evolve, and businesses should keep a close eye on forthcoming changes that may affect the way they recruit, manage and retain staff. Although many of the proposed reforms are still being developed, employers should not wait until new legislation comes into force before reviewing their existing
More...Receiving tax relief on pension contributions into a workplace pension is a great way to help prepare for retirement. In addition, contributions from your employer can make the pension savings even greater. If you are automatically enrolled into a workplace pension a percentage of your earnings is paid into your pension fund each
More...We are a small, family run local accountancy firm who specialise in helping small to medium businesses operate as efficiently as they can.
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SK22 3BG
Email: info@goughaccountancy.co.uk
Phone: 0161 449 7272
