From 6 April 2022, National Insurance contributions will increase by 1.25 percentage points, helping fund the NHS and health and social care. Employers are being encouraged inform employees, via a...
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Business
Wheelers Words: Making Tax Digital (MTD)
As you may be aware HMRC have been changing the way as to how businesses have to keep their VAT records and the method that they submit their VAT returns. This is known as ‘Making Tax Digital (MTD)....
Wheelers Words: VAT – reduced rate for hospitality, holiday accommodation and attractions
Since the 15 July 2020, a temporary 5% reduced rate of VAT applied to certain supplies due to the impact of COVID 19. The rate broadly applied to: hospitality hotel and holiday accommodation...
Wheelers Words: National Insurance and Dividend Tax Update
On Tuesday this week the Prime Minister announced a change in tax rates which will affect most, if not all of us in the coming years. The increase in National Insurance and tax rates are projected...
Wheelers Words: Self-employment Income Support Scheme – 5th Grant
HMRC have now released details of the 5th SEISS grant which will be available to apply for using the online service from the end of July and as with the previous grants cannot be submitted by us as...
Wheelers Words: Self-employment Income Support Scheme (SEISS) and Corona Virus Retention Scheme (CJRS) Update
Self-employment Income Support Scheme (SEISS) HMRC have now released details of the 5th SEISS grant which will be available to apply for from the end of July. Guidance on how to claim the grant will...
Wheelers Words: COVID-19: Self-employment Income Support Scheme (SEISS) Update
HMRC have now released details of the 4th SEISS grant which will be available to apply for from 22nd April 2021. If you have applied before you should receive a text/email with details on the day...
Wheelers Words: VAT Referral Update
HMRC have started sending out letters regarding deferred VAT which has not been paid and where action has not been taken. If you deferred VAT payments between March and June 2020, this deferred...
Wheelers Words: Self Employment Income Support Scheme (SEISS) update
In last week’s budget it was announced that the newly self employed would now qualify for the SEISS grant provided that they had submitted a 2019/2020 tax return. HMRC have subsequently announced...