Blog

From 1 October 2021 to 31 March 2022, the temporary reduced VAT rate for the hospitality sector will be increased from 5% to 12.5% and will then end so that affected supplies revert to 20% VAT from 1 April 2022. VAT registered businesses in the hospitality industry will need to ensure that their tills and… Read more

To help pay for the growing costs of health and social care, the Prime Minister Boris Johnson has announced a 1.25 percentage point increase to National Insurance and dividend tax from April next year.  Despite manifesto pledges not to raise National Insurance, the Government has said the unforeseen impact of the pandemic meant it faced… Read more

The super-deduction £25bn tax break, announced earlier in the year by the Government, is intended to spur investment by providing 25p off company tax bills for every pound of qualifying spending on plant and machinery. What is it? Companies purchasing new and unused qualifying plant and machinery now qualify for a Super Deduction of 130%… Read more

Electric vehicles are not only cheaper to run day-to-day – there are funding and tax incentives that come with switching to 100% electric vehicles. Companies that equip themselves with electric vehicles enjoy significant cost savings. So, becoming more sustainable not only makes sense from an ethical point of view; it is also a smart business… Read more

Employees working from home due to the coronavirus pandemic can continue to claim tax relief on costs not reimbursed by their employer, but a new claim will need to be made for the 2021/22 tax year, HMRC has confirmed. How does it work? Normally, employers can pay a tax-free allowance of up to £6 per… Read more

Most business owners accept how important their intangible assets are to their company’s success – their brand, their customers’ loyalty, internal processes, systems and know-how are all crucial elements which contribute to value, even if they aren’t usually included as specific figures on the balance sheet of the financial statements. However, because these assets aren’t… Read more

Hunter Gee Holroyd have produced a Tax Card which summarises many of the rates and allowances fundamental to your business and personal lives. It’s a great point of reference throughout the coming tax year and contains lots of information on personal, business, employment, property and capital taxes, including any changes. Our guide contains information on… Read more

There are few things as annoying in business than the elation of winning some work, the pride of delivering your product to your customer and then the growing frustration as you realise that your customer may not actually pay you. As the pandemic has shown some businesses to have far more resilience than others, the… Read more

As part of the 2021 Budget, the Government announced a £520m “Help to Grow” scheme, to help small and medium sized businesses (SMEs) across the UK. The scheme will provide eligible companies with digital and management support and training to help them innovate and grow. There are two components to the scheme: Help to Grow: Management:… Read more

The application process for the SME (Small and medium-sized enterprise) Brexit Support Fund is now open. The £20 million SME Brexit Support Fund enables businesses to access practical support, including training for new customs, rules of origin and VAT processes. Small and medium sized businesses that trade solely with the EU – and are therefore new to importing and exporting processes – are… Read more