What landlords need to know about Making Tax Digital
Making Tax Digital (MTD) has already impacted VAT, with income tax and corporation tax due to follow in the coming years. There are significant implications for those who pay income tax via self assessment (ITSA), including landlords with taxable income of more than £50,000 a year. In this article, Clayton & Brewill highlights what landlords… View Article
Don’t miss the Self Assessment tax return deadline
In all the Christmas festivities, it can be easy to forget that the 31 January deadline for submitting your Self Assessment tax return is just around the corner. Clayton & Brewill explains why you must ensure your submission is correct and on time so you can avoid any unnecessary penalties. Who must send a tax… View Article
Working at Clayton & Brewill: what is a career in accountancy like?
November is national career development month and to mark the occasion, we interviewed our audits and account manager, Adam Rostance, to reflect on how his career has developed at Clayton & Brewill since he joined the firm 10 years ago. Hi Adam! Can you tell us a bit about what drew you to a career… View Article
Key takeaways from the Autumn Statement 2022
From tax increases to tighter public spending, Chancellor Jeremy Hunt has unveiled his plan for the UK to “weather the economic storm” in his Autumn Statement. The chancellor outlined the government’s medium term fiscal plan to put public spending on a sustainable footing, get debt falling and restore stability. He began by acknowledging that the… View Article
What travel expenses can I claim?
When it comes to travel expenses incurred by directors and other employees, the tax rules can be difficult to follow. But inadvertent errors can have expensive consequences, both for the business and for the employee. Here, Clayton & Brewill discusses the taxation of travel expenses and explains where relief is allowed. Are all travel expenses… View Article
What tax relief does the Enterprise Investment Scheme offer?
The Enterprise Investment Scheme (EIS) is one of four venture capital schemes designed to allow certain types of small, higher-risk, unquoted trading companies to raise capital. Here, Clayton & Brewill provides an overview of what the scheme offers. What does the Enterprise Investment Scheme offer? The EIS offers several forms of relief. Chargeable gains on… View Article
Which mini-budget tax cuts have been reversed?
Having been appointed as chancellor last week following Kwasi Kwarteng’s resignation, Jeremy Hunt has dismantled many of the policies announced in the former chancellor’s September mini budget in a major U-turn for Liz Truss’s government. The new chancellor, who brought forward his fiscal statement by two weeks in a bid to stabilise financial markets, made… View Article
Mini budget 2022: the chancellor unveils plan for growth
From income tax to stamp duty and national insurance, Kwasi Kwarteng’s first announcement as chancellor proved to be far from the ‘mini’ budget that had been expected. Clayton & Brewill provides an overview of the mini budget 2022 and what it means for businesses. UPDATE 17th October 2022: please read our update to this article… View Article
Fall in real pay explained
Despite robust pay growth and a buoyant jobs market in the UK, the Office for National Statistics (ONS) reports that the real value of workers’ pay dropped by 3% in the three months to June, after taking inflation into account – the fastest decline since comparable records began in 2001. While there is a growing number… View Article
Trust Registration – act now for 1 September deadline
UK express trusts, and some non-UK trusts in existence on or after 6 October 2020, must be registered with the UK Trust Registration Service (TRS) by 1st September 2022. The Trust Registration Service (TRS) is an online register of the beneficial ownership of trusts. It was set up in 2017 as part of an EU… View Article