Mini budget 2022: the chancellor unveils plan for growth

23rd September, 2022

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. Having only been chancellor for a matter of days, Kwasi Kwarteng… View Article

Trust Registration – act now for 1 September deadline

8th August, 2022

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

What landlords need to know about Making Tax Digital

15th July, 2022

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 £10,000 a year. In this article, Clayton & Brewill highlights what landlords… View Article

Employer obligations in 2022: an update

4th May, 2022

In our latest employer update, Nottingham chartered accountants Clayton & Brewill guides you through the latest issues in tax, payroll and employment law. Stay compliant on minimum wage New minimum wage rates apply from 1 April 2022: Hourly rate from 1 April 2022 National Living Wage (age 23 and over) £9.50 21-22 year old rate… View Article

Year end tax planning tips

11th March, 2022

Each year, as the 5 April approaches and the end of the financial tax year draws to an end, it’s important that you ensure your finances are as tax efficient as possible. Nottingham chartered accountants Clayton & Brewill provides some year end tax planning tips. Income tax – do you need to reorganise your income… View Article

Error and fraud in Covid-19 support schemes: HMRC’s approach

28th February, 2022

From the beginning, it was clear that Covid-19 support schemes would be targets for fraud and that customers would make mistakes. In our latest article, Nottingham chartered accountants Clayton & Brewill highlights HRMC’s latest approach to tackling error and fraud in Covid-19 support scheme claims. Taxpayer Protection Taskforce Given estimates suggesting £5.8 billion lost to… View Article

Self Assessment tax return 2022: late filing and late payment penalties waived for one month

27th January, 2022

As the 31 January tax return deadline looms, Nottingham chartered accountants Clayton & Brewill explains the latest news from HMRC regarding late filing and late payment penalties being waived and highlights why it’s more important than ever to ensure your submission is made on time. Who must send a tax return? You must send a… View Article

A guide to MTD ITSA: why it still means big change for you and your business

17th December, 2021

April 2022 sees the final phase of Making Tax Digital (MTD) for VAT, but that’s just the tip of the iceberg. MTD for income tax (MTD ITSA) comes next, and implementation is likely to be altogether more challenging, plus there’s corporation tax to consider. In this article, Nottingham chartered accountants Clayton & Brewill provides a… View Article

Salary sacrifice: how to change the small print

15th November, 2021

With the disruption caused by COVID-19, employers may find themselves asked to change the terms of a salary sacrifice arrangement. But it’s important that businesses tread carefully on this matter; varying a salary sacrifice arrangement could result in expected tax and NICs advantages being put at risk. In this article, Clayton & Brewill explains what… View Article

Autumn Budget 2021: key announcements

28th October, 2021

Clayton & Brewill provides a summary of the key Autumn Budget 2021 announcements, including updates to the business rates system, increased investment in innovation, changes to the National Living Wage and the Universal Credit Rate Taper, plus the alcohol duties overhaul. As always, please do contact us if you would like to discuss in detail the impact of… View Article

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