Generated by All in One SEO v5.0.0.1, this is an llms.txt file, used by LLMs to index the site. # Vincent & C Vincent & Co ## Sitemaps - [XML Sitemap](https://www.vincent.co.uk/sitemap.xml): Contains all public & indexable URLs for this website. ## Posts - [Spring Budget 2023 Summary](https://www.vincent.co.uk/spring-budget-2023-summary/) - Chancellor Jeremy Hunt has unveiled his 'Back to Work' March Budget. Here is a summary of some of the key points. The OBR (Office for Budget Responsibility) has said that the UK will not enter recession this year. Inflation is set to fall to 2.9% by the end of the year. Corporation Tax Chancellor Jeremy Hunt has unveiled his 'Back to Work' March Budget. Here is a summary of some of the key points. - [Dealing With Inflation](https://www.vincent.co.uk/dealing-with-inflation/) - Both households and businesses are feeling the effects of inflation as it has reached 11.1% in the 12 months to October 2022. Optimistically, the rate is expected to fall from mid-2023. How is it possible to avoid the most damaging effects? Inflation is the increase in prices over a year and is calculated by Both households and businesses are feeling the effects of inflation as it has reached 11.1% in the 12 months to October 2022 - [Vincent & Co Acquires Parrott & Parrott Ltd.](https://www.vincent.co.uk/vincent-co-acquires-parrott-parrott-ltd/) - We are delighted to announce that Steven Parrott has retired and we took over his practise on 1st February. Parrott & Parrott is a well-known name in the area, having advised and assisted local businesses and individuals for many years. We are welcoming 170 clients and look forward to contacting them to introduce - [Good Tax Returns News!](https://www.vincent.co.uk/good-tax-returns-news/) - At Vincent & Co. we have entered February with lots of incredibly good news for both our team and our clients. January Tax Returns Deadline Smashed! To begin with, the last day of January saw us successfully complete and file with HMRC all the tax returns for everyone who provided their data. The last At Vincent & Co. we have entered February with lots of incredibly good news for both our team and our clients. January tax returns deadline mashed! - [Making Tax Digital for Income Tax Self Assessments Delayed!](https://www.vincent.co.uk/1423-2/) - The introduction of Making Tax Digital (MTD) for Income Tax Self Assessments will now be delayed! This will now be implemented from April 2026 for businesses, self-employed and landlords with income over £50,000. Those with income between £30,000 and £50,000 will be brought into MTD from April 2027. A review will take place as to The introduction of Making Tax Digital (MTD) for Income Tax Self Assessment will now be delayed! - [Christmas and New Year Office Opening Times](https://www.vincent.co.uk/christmas-and-new-year-office-opening-times/) - Our offices will close on the 23rd December 2022 @ 12 noon, and re-open again on 4th January 2023 @ 8am. If you need anything during that time, please e-mail our office@vincent.co.uk e-mail which will be monitored. We wish you and your family a very Happy Christmas and a prosperous New Year. - [The Chancellor’s Autumn Statement  ](https://www.vincent.co.uk/the-chancellors-autumn-statement/) - Here are the key points from the recent Statement: Income tax bands frozen until April 2028 Income tax rates and personal allowances will remain at the same level until at least April 2028 as part of the fiscal drag, resulting in more workers falling into higher tax brackets as wages increase with inflation. Meanwhile, the threshold - [We're Recruiting! We Need An Office Administrator](https://www.vincent.co.uk/were-recruiting-we-need-an-office-administrator/) - Office Administrator Apply Now! Full-time or part-time, Monday to Friday. Salary £18,000.00 to £22,000.00 per year pro rata, depending on experience. Key Responsibilities: Ensure the smooth running of a busy professional office, and the ability to work with George the Office Dog: Processing post received. Managing and responding to office emails. Managing staff holiday requests. We need an Office Administrator - [Did you know … about our Porch?](https://www.vincent.co.uk/did-you-know-about-our-porch/) - Did you know you can drop off and collect documents from Vincent & Co at any time of the day or night? We have installed a key code lock on the front door. This means that if you want to drop records to us, or collect them, you can do so without having to come - [The Chancellor’s Mini-Budget – Keep More of Your Own Money](https://www.vincent.co.uk/the-chancellors-mini-budget-keep-more-of-your-own-money/) - At Vincent & Co. we always try to keep you up-to-date with changes which come from HM Revenue & Customs. The latest news is the recent mini-budget. In this, the Chancellor of the Exchequer, the Rt Hon Kwasi Kwarteng MP, published the government’s Growth Plan. This is a package of measures to deliver a If you are an employer, the changes are particularly interesting for you - [Self-employed? Preparing for Making Tax Digital (MTD) for Income Tax](https://www.vincent.co.uk/self-employed-preparing-for-making-tax-digital-mtd-for-income-tax/) - Self-employed individuals need to start thinking about how to prepare for the six reports per year they will need to submit to HMRC under the MTD for Income Tax Self-Assessment (MTD ITSA) regime. Most sole traders and landlords (not partnerships or companies) will need to comply with MTD ITSA from 6 April 2024. This Self-employed individuals need to start thinking about how to prepare for the six reports per year they will need to submit to HMRC under the MTD for Income Tax Self-Assessment (MTD ITSA) regime. - [Office Closure on Monday 19th September 2022](https://www.vincent.co.uk/office-closure-on-monday-19th-september-2022/) - Everyone at Vincent & Co is greatly saddened by the passing of Her Majesty Queen Elizabeth II on 8th September and our sincere condolences go to her family. We will close the office on Monday 19th September and take time to join the rest of the world honouring the life and dedicated service of our We will close the office on Monday 19th September and take time to join the rest of the world honouring the life and dedicated service of our late sovereign. - [The Chancellor Helps Households with the Cost of Living](https://www.vincent.co.uk/the-chancellor-helps-households-with-the-cost-of-living/) - At Vincent & Co we like to keep you updated with news of any changes to personal finances, and there have been a few announcements recently. On 26th May, the Chancellor announced the introduction of several new tax-free payments to families to help them deal with the increased cost of living: The Energy Bills Support On 26th May, the Chancellor announced the introduction of several new tax-free payments to families to help them deal with the increased cost of living - [New Office Opening Times](https://www.vincent.co.uk/new-office-opening-times/) - In order to make coming to the office easier for our clients and visitors, we have changed our opening times. With immediate effect they are: Monday to Friday from 8am until 3.30pm. Appointments can be made outside of these hours. Just call us on 01803 500 500. Please note: we are closed on Friday - [Spring Statement](https://www.vincent.co.uk/spring-statement/) - Did you catch everything the Chancellor said in his Spring Statement? We know that National Insurance contributions have increased from 6th April, and the rest of the key points are: The Chancellor has not rescinded the increase in NIC and the dividend tax, so most tax bills are going up by 1.25%; He has aligned Did you catch everything the Chancellor said in his Spring Statement? National Insurance contributions are going up from today and the rest of the key points are: - [Happy New Year for 2022](https://www.vincent.co.uk/happy-new-year-for-2022/) - We're back after our festive holidays, ready to give you the advice and guidance you need for your personal and business finance. Just call 01803 500 500 and speak to one of our team. Happy New Year to you! We're back after our festive holidays, ready to give you the advice and guidance you need for your personal and business finance. - [Christmas and New Year Opening Times](https://www.vincent.co.uk/christmas-and-new-year-opening-times/) - #post_excerptChristmas and New Year Opening Times - [Making Tax Digital Regulations](https://www.vincent.co.uk/making-tax-digital-regulations/) - #post_excerptThe new MDT regulations have now been published - [Budget Summary](https://www.vincent.co.uk/budget-summary/) - #post_excerptThe Chancellor of the Exchequer announced his Budget on Wednesday. In case you missed the main points they are: - [New Drop-Off and Collect Facility](https://www.vincent.co.uk/new-drop-off-and-collect-facility/) - #post_excerptWe have had a re-organisation and introduced a counter for you to drop off and collect documents at any time of the day and night via a secure key coded lock - [Inheritance Tax: Your Questions Answered](https://www.vincent.co.uk/inheritance-tax-your-questions-answered/) - #post_excerptMany people worry about having to pay inheritance tax, but in reality only a few people have to pay it. - [Emerging from Lockdown](https://www.vincent.co.uk/emerging-from-lockdown/) - #post_excerptThe Prime Minister has now announced his plans for us to emerge from this lockdown, and we really hope they will come to fruition. - [Virtual Christmas Parties Exemption in 2020](https://www.vincent.co.uk/virtual-christmas-parties-exemption-in-2020/) - HMRC has confirmed that a virtual Christmas party will fall within the rules for the annual parties exemption in the same way that it would for traditionally held parties. - [The Chancellor's Winter Economic Plan](https://www.vincent.co.uk/the-chancellors-winter-economic-plan/) - Since the onset of the coronavirus pandemic, many businesses and individuals have benefited from a range of schemes, including furlough grants for staff unable to work, grants for the self-employed, deferral of VAT and Income Tax payments and cheap, government-backed business loans. - [Brexit – The End of Transition is Nigh](https://www.vincent.co.uk/brexit-the-end-of-transition-is-nigh/) - The UK left the EU on 31 January 2020 but all trading arrangements, including VAT, are held in suspension until the end of the transition period on 31 December 2020. - [Government Updates September 2020](https://www.vincent.co.uk/government-updates-september-2020/) - Here is a summary of the latest government updates, dated 24 September. Job Support Scheme The Job Support Scheme (JSS) is designed to give business the ability to retain staff working reduced hours, rather than make them redundant. Employees will only be eligible for the scheme if they are working at least 33% of their - [More Time to Pay Taxes](https://www.vincent.co.uk/more-time-to-pay-taxes/) - The Government has introduced an immediate deferral of upcoming Income Tax and VAT payments but the other business taxes such as PAYE and Corporation Tax remain payable on the due dates. - [New Implementation Dates for Making Tax Digital](https://www.vincent.co.uk/new-implementation-dates-for-making-tax-digital/) - As you may be aware HMRC decided to delay their plans to implement Making Tax Digital (MTD) due to the Covid-19 virus. HMRC has now announced the new implementation dates. - [Changes to Capital Gains Tax on Private Residences](https://www.vincent.co.uk/changes-to-capital-gains-tax-on-private-residences/) - Since April 2020 there have been two phases of changes to the tax paid on residential property sales. The idea is to increase the tax paid from the disposal of residential property and collect this tax much more quickly. - [Coronavirus: Our Services To You](https://www.vincent.co.uk/coronavirus-our-services-to-you/) - Covid-19 Coronavirus With the increasing national concern regarding the COVID-19 coronavirus, we want to assure our clients that we are monitoring the developing situation carefully and have a plan in place to provide a continued service to clients as far as we possibly can. To read more please visit our dedicated pages here - [National Living Wage and Minimum Wage Rates Increase](https://www.vincent.co.uk/national-living-wage-and-minimum-wage-rates-increase/) - Some three million workers are set to benefit from increases to the National Living Wage (NLW) and minimum wage rates for younger workers from 1 April 2020. - [VAT and Brexit](https://www.vincent.co.uk/vat-and-brexit/) - HMRC has not yet issued any guidance as to how imports and exports to the EU and out with the EU should be recorded for VAT return purposes after 31 January 2020 - [December's General Election and Tax](https://www.vincent.co.uk/decembers-general-election-and-tax/) - Following the General election on 12 December, Prime Minister Boris Johnson has confirmed that Sajid Javid remains as Chancellor of the Exchequer - [Tax-Free Christmas Parties](https://www.vincent.co.uk/tax-free-christmas-parties/) - A social event - which of course, includes the annual Christmas party - will qualify as a tax-free benefit if certain conditions are satisfied - [Salary or Bonus?](https://www.vincent.co.uk/salary-or-bonus/) - As 31 December approaches, many companies will be getting ready to tie up tax matters for their financial year-end and giving consideration to salaries, bonuses and dividends. - [How Can You Identify Genuine HMRC Communications?](https://www.vincent.co.uk/how-can-you-identify-genuine-hmrc-communications/) - Broadly, phishing is the fraudulent attempt to obtain sensitive information such as usernames, passwords and credit card details by disguising oneself as a trustworthy source in an electronic communication. - [Simplification of Inheritance Tax](https://www.vincent.co.uk/simplification-of-inheritance-tax/) - The Office of Tax Simplification (OTS) is the independent adviser to government on simplifying the UK tax system, to make it easier for the taxpayer. - [Workplace Pensions Re-enrolment Requirements](https://www.vincent.co.uk/workplace-pensions-re-enrolment-requirements/) - Every three years you must put certain staff who have left your pension scheme back into it. This is called re-enrolment. You must complete a re-declaration of compliance. - [Changes to Capital Gains Tax on Residential Property From April 2020](https://www.vincent.co.uk/changes-to-capital-gains-tax-on-residential-property-from-april-2020/) - From 6 April next year, Capital Gains Tax (CGT) incurred following the disposal of a residential property will have to be paid within 30 days of the completion date. - [Making Tax Digital Webinar](https://www.vincent.co.uk/making-tax-digital-webinar/) - Many VAT registered businesses are getting ready to submit their first digital VAT return through Making Tax Digital software. If this includes you, find out about Making Tax Digital for VAT with online help and support from HMRC. Join this live webinar, where you’re able to ask questions using the on-screen text box. This webinar - [VAT: Reverse Charge for Building and Construction Services](https://www.vincent.co.uk/vat-reverse-charge-for-building-and-construction-services/) - From 1 October 2019 this anti-fraud measure will introduce a VAT reverse charge on certain building and construction services. - [Tax on Trivial Benefits](https://www.vincent.co.uk/tax-on-trivial-benefits/) - There are specific criteria which have to be met in order to avoid paying tax and National Insurance on certain benefits. - [Zero-Rating VAT of Transport of Disabled Passengers](https://www.vincent.co.uk/zero-rating-vat-of-transport-of-disabled-passengers/) - Where a vehicle is designed or adapted to safely carry persons in a wheelchair and, if it were not for those changes alone, the vehicle would seat 10 or more passengers, it is a zero-rated supply. - [Childcare Costs Scheme Update](https://www.vincent.co.uk/childcare-costs-scheme-update/) - You could receive top-ups of £2 for every £8 you pay into a tax-free childcare account, up to a maximum of £2,000 per child. - [We're Recruiting!](https://www.vincent.co.uk/were-recruiting/) - We need our new Receptionist to have a good understanding of Word and Excel, be willing to learn new PC-based software, and happy to work closely with colleagues to ensure client questions are answered quickly and accurately. - [Business Partnership: Will it Work for You?](https://www.vincent.co.uk/business-partnership-will-it-work-for-you/) - A partnership may be a simple trading vehicle enabling two or more people to own and run a business, but there are few practicalities worth considering. - [Making Tax Digital for VAT Update: How to Deal with Petty Cash Transactions](https://www.vincent.co.uk/making-tax-digital-update-how-to-deal-with-petty-cash-transactions/) - HMRC has published an updated version of their guidance for businesses on Making Tax Digital for VAT. - [Minimum Pension Scheme Contributions Rise](https://www.vincent.co.uk/minimum-pension-scheme-contributions-rise/) - The minimum contributions employers and their staff must pay into their automatic enrolment workplace pension scheme increased with effect from 6 April 2019. From that date, the employer minimum contribution has risen from 2% to 3%, while the staff contribution also increased from 3% to 5%. As part of the 'phasing' process, the increases mean - [Lasting Powers of Attorney: what is it and who should have it?](https://www.vincent.co.uk/lasting-powers-of-attorney-what-is-it-and-who-should-have-it/) - Lasting Powers of Attorney came into effect in October 2007. It is a legal document which lets you appoint someone whom you trust to act on your behalf in different areas of your life. - [Choosing the Right Accounting Software for Your Business](https://www.vincent.co.uk/choosing-the-right-accounting-software-for-your-business/) - Accounting can be the most difficult part of running a small business, with expense-tracking and tax calculations both necessary evils. - [Trading with the EU? You will need a UK Customs Number After Brexit](https://www.vincent.co.uk/trading-with-the-eu-you-will-need-a-uk-customs-number-after-brexit/) - If you are a UK business and you are trading with the European Union by importing or exporting goods, you will need a UK EORI number to continue trading after Brexit. - [The Virtual Number Mill - An Article by Steve Vincent](https://www.vincent.co.uk/the-virtual-number-mill-an-article-by-steve-vincent/) - In my long experience as an accounting/taxation practitioner I have several observations regarding the relationship between clients and accountants. - [Efficient Tax Savings](https://www.vincent.co.uk/efficient-tax-savings-offers/) - As the end of the current tax year approaches, it is worthwhile checking to ensure that the various tax-efficient savings opportunities have been utilised wherever possible. - [January 2019 Record Tax Revenue](https://www.vincent.co.uk/january-2019-record-tax-revenue/) - The Treasury has been given a boost after official figures showed the Government recorded its largest January budget surplus, as they enjoyed a bumper haul of tax receipts. - [Juicy First Tier Tribunal Case](https://www.vincent.co.uk/juicy-first-tier-tribunal-case/) - The First Tier Tribunal was recently called upon to examine whether fruit and vegetable juices sold as meal replacements were beverages and therefore standard-rated for VAT. - [Can Employers Still Claim the Employment Allowance?](https://www.vincent.co.uk/can-employers-still-claim-the-employment-allowance/) - In broad terms, the Employment Allowance is available to most employers and should enable them to reduce the amount of National Insurance Contributions they pay by up to £3,000 per year. - [New Capital Expenditure Rules from January 2019](https://www.vincent.co.uk/new-capital-expenditure-rules-from-january-2019/) - If you are considering investing more than £200,000 in plant and machinery you could benefit from a change to the capital allowances rules, which should allow you to obtain tax relief at an earlier time. - [Making Tax Digital - Be Ready](https://www.vincent.co.uk/making-tax-digital-latest-update-from-hmrc/) - The April deadline for Making Tax Digital is rapidly approaching so we all need to be prepared, which includes using a software programme compatible with HMRC. - [Making Tax Digital: MTD for VAT](https://www.vincent.co.uk/making-tax-digital-mtd-for-vat/) - From April 2019 all VAT registered businesses with a taxable turnover above the VAT threshold of £85,000 will be required to keep records digitally and submit them to HMRC using compatible software. - [High Income Child Benefit Charge](https://www.vincent.co.uk/high-income-child-benefit-charge/) - HICBC is a tax charge which applies where the 'adjusted net income' of a taxpayer or their partner is more than £50,000 in a tax year, and they or their partner receive child benefit - [Apprenticeship Levy Help for Smaller Firms](https://www.vincent.co.uk/apprenticeship-levy-help-for-smaller-firms/) - In a bid to make apprenticeship schemes more accessible, the Treasury has raised the amount of the apprentice levy that larger companies can transfer to smaller firms in their supply chain from 10% to 25%. - [The End of Austerity – Autumn Budget 2018](https://www.vincent.co.uk/the-end-of-austerity-autumn-budget-2018/) - Continuing our commitment to keep you informed about government decisions which influence your finances, here is our summary of the Budget announced on 29 October. - [Employees with Electric or Hybrid Cars?](https://www.vincent.co.uk/employees-with-electric-or-hybrid-cars/) - Legislation is to be introduced to exempt from income tax and National Insurance Contributions, any liability arising from the provision of charging facilities (including electricity) to employees recharging all-electric or plug-in hybrid vehicles at or near the workplace, where facilities are made available generally to the employer's employees. It does not cover reimbursements for charging - [End of the Childcare Voucher Scheme](https://www.vincent.co.uk/end-of-the-childcare-voucher-scheme/) - After the 4th of October the childcare vouchers are going to be stopping. However, there is a new way for receiving help towards the childcare fees already. - [Class 2 NICs To Remain](https://www.vincent.co.uk/class-2-nics-to-remain/) - Self-employed earners over the age of 16 and below state retirement age are currently liable to both Class 2 and Class 4 National Insurance contributions - [October Key Tax Dates](https://www.vincent.co.uk/october-key-tax-dates/) - In case you're wondering, here are the key tax dates coming up for October: 1 - Due date for payment of Corporation Tax for the year ended 31 December 2017 5 - If a Tax Return has not been received, individuals and trustees must notify HMRC of new sources of income and chargeability in 2017/18 14 - - [Self-assessments: new points-based penalty system to be introduced by HM Revenue & Customs?](https://www.vincent.co.uk/new-points-based-penalty-system-to-be-introduced-by-hm-revenue-customs/) - It looks like HM Revenue & Customs may be introducing some changes to late filing penalties based on proposals put forward for the Finance Bill 2018-19. - [Rent-a-Room Relief for Absent Landlords](https://www.vincent.co.uk/rent-a-room-relief-for-absent-landlords/) - If you are thinking of working away from home for a while and taking in a lodger to look after the house and pay you some rent, HMRC says you can receive up to £7,500 per year tax free. - [Changes to Tax on Company Loans to Directors and Shareholders](https://www.vincent.co.uk/changes-to-tax-on-company-loans-to-directors-and-shareholders/) - All loans to directors and shareholders (participators) from a company must now be taxed under Section S455 of the Corporation Tax regulations. - [Unpaid Invoices and Tax Deductions](https://www.vincent.co.uk/unpaid-invoices-and-tax-deductions/) - You may have bad debts for your latest accounts which you have ignored. Can you claim tax relief on these? - [Making Company Car Purchases Cost Effective for Family Members](https://www.vincent.co.uk/making-company-car-purchases-cost-effective-for-family-members/) - In April 2018 the tax and National Insurance (NI) charges for company cars rose again. The maximum charge did not increase but the carbon dioxide (CO2) emissions bands moved so that the majority of company car drivers will pay more in 2018/19 and in 2017.18 for the same car. - [Carers Who Sleep Over Could be Entitled to National Minimum Wage](https://www.vincent.co.uk/carers-who-sleep-over-could-be-entitled-to-national-minimum-wage/) - Hiring your own personal car assistant can be a life-changing decision, but for many it is their first experience of becoming an employer – often without realising it. - [VAT Margin Scheme](https://www.vincent.co.uk/vat-margin-scheme/) - A VAT Margin Scheme taxes the difference between what you paid for an item and what you sold the same item for. VAT is paid at 1/6 (16.67%) of the difference (margin). - [At Risk of a Surprise Tax Investigation? Be Protected with FeeWise](https://www.vincent.co.uk/at-risk-of-a-surprise-tax-investigation-be-protected-with-feewise/) - The number of tax enquiries has dramatically increased over the last few years, resulting in more and more people having their tax scrutinised. - [Construction Industry Scheme (CIS) Deductions and Joint Contracts](https://www.vincent.co.uk/construction-industry-scheme-cis-deductions-and-joint-contracts/) - The Construction Industry Scheme works in a similar way to PAYE for construction firms and self-employed workers in that industry. There are three levels of CIS deduction which contractors must make when they pay a sub-contractor: 30% if the sub-contractor is not registered with HMRC; 20% if they are registered but do not have a - [Claiming Tax for Upgrading Your Travel](https://www.vincent.co.uk/claiming-tax-for-upgrading-your-travel/) - If you upgrade your usual standard or economy class travel so you can work en route, can you claim a tax deduction for the extra cost? - [Can Giving Away Shares Be Tax Efficient?](https://www.vincent.co.uk/can-giving-away-shares-be-tax-efficient/) - In the 1980s and 1990s a wide range of companies were privatised and gave many people a few shares which produce very small annual dividends. They can be seen are more trouble than they are worth, so what can be done with them? - [Buy Goods for Personal Use and Potentially Save VAT](https://www.vincent.co.uk/buy-goods-for-personal-use-and-potentially-save-vat/) - You may believe you can reclaim VAT for any purchase you put through your business account, but you can’t. You cannot reclaim VAT on a purchase which is not for your business. - [2018 Spring Statement Summary](https://www.vincent.co.uk/2018-spring-statement-summary/) - We always try to keep you up-to-date with the latest changes which could affect you, so here is our summary of the Chancellor’s statement issues recently. - [End of Year PAYE Filing, Minimum Wage and Workplace Pension Increases](https://www.vincent.co.uk/end-of-year-paye-filing-minimum-wage-increases-and-workplace-pension-increases/) - It's the time of year to file your PAYE information and update your payroll for new national minimum wage increases and increases to the workplace (auto enrolment) pension - [Landlords Forced to Improve Energy Ratings from This April](https://www.vincent.co.uk/landlords-forced-to-improve-energy-ratings-from-this-april/) - New regulations are being introduced from April 2018 which will force landlords to improve the energy ratings of their properties. This will apply to landlords of privately rented domestic and non-domestic properties in England and Wales. The idea is that properties must reach at least an Energy Performance Certificate (E - [Are Your Contracts of Employment Up To Date?](https://www.vincent.co.uk/are-your-contracts-of-employment-up-to-date/) - You will have heard and read about recent news stories regarding contracts of employment, particularly the changes to dress code requirements. It is vital that your contracts of employment are up to date or you could have problems – expensive problems. - [Changes to Buy To Let Tax Rules](https://www.vincent.co.uk/changes-to-buy-to-let-tax-rules/) - If you are a higher-rate taxpayer you can no longer offset all your mortgage interest against rental income before calculating the tax due. - [Changes to the Ways you can Pay your Tax](https://www.vincent.co.uk/changes-to-the-ways-you-can-pay-your-tax/) - From 15th December this year you will no longer be able to pay your tax bill at a Post Office Branch. - [Making Tax Digital or MTD](https://www.vincent.co.uk/making-tax-digital-or-mtd/) - Making tax Digital is a bold and innovative initiative to bring the UK tax system up to date for the new digital age. - [Budget March 2017](https://www.vincent.co.uk/budget-march-2017/) - Not sure quite what happened in the Budget? Worried about how the changes could affect you? Here are two summary documents for you to read and download. - [National Minimum Wage: New Rates From April 2017](https://www.vincent.co.uk/national-minimum-wage-new-rates-from-april-2017/) - National Minimum Wage: New Rates From April 2017 - [Christmas Holiday Opening Times](https://www.vincent.co.uk/christmas-holiday-opening-times/) - We will be closing our offices for the festivities at 4.00pm on 23rd December and re-open on 3rd January at 8.30am - [Surprise! Surprise! HMRC Calling](https://www.vincent.co.uk/surprise-surprise-hmrc-calling/) - According to recent reports HMRC has increased the number of small business investigations and they continue to be seen as soft targets. - [VAT Returns - Remember to Keep Records](https://www.vincent.co.uk/vat-returns-remember-to-keep-records/) - It’s a basic check that needs to be done every year – reconciling the sales reported on your VAT returns to those in your annual accounts. - [Do You Need to Submit a Tax Return?](https://www.vincent.co.uk/do-you-need-to-submit-a-tax-return/) - Many people are not sure if they need to send a tax return to HMRC. Read this article and if you are still unsure contact us - [Tax Paid By Deceased Estates](https://www.vincent.co.uk/tax-paid-by-deceased-estates/) - When an individual dies it can take months or even years to wind up the estate and pay out the funds to all beneficiaries. Those funds may earn bank interest. - [Limited Companies: Annual Return to be a ‘Confirmation Statement’](https://www.vincent.co.uk/limited-companies-annual-return-to-be-a-confirmation-statement/) - Limited Companies: Annual Return to be a ‘Confirmation Statement’ - [Living Wage Week](https://www.vincent.co.uk/living-wage-week/) - Did you know last week was Living Wage Week? You've probably heard about the living wage in the press recently, but what's it all about and how could it affect you? The Living Wage Foundation encourages employers to pay a living wage rather than the minimum wage as they 'believe work should be the surest - [Family Finances May Be Improving](https://www.vincent.co.uk/family-finances-may-be-improving/) - According to a recent newspaper article, there have recently been two surveys from Markit and Deloitte which confirm official figures to confirm our recession is coming to an end. The surveys found that although family finances in October deteriorated, the scale of this squeeze was the least for nearly two years. Deloitte claim that consumer - [National Minimum Wage Increase](https://www.vincent.co.uk/national-minimum-wage-increase/) - From 1st October 2012 the National Minimum Wage will increase. The new rate will be £6.19 an hour for workers aged 21 and over. The apprentice rate, for apprentices under 19, or over 19 and in the first year of the apprenticeship, will increase to £2.65. The rates for 18-20 year olds and under 18s - [HMRC Task Forces to Focus on SW Motor Traders and Restaurants](https://www.vincent.co.uk/hmrc-task-forces-to-focus-on-sw-motor-traders-and-restaurants/) - We've recently learned that motor traders and restaurant owners in the South West are to be targeted by new HMRC task forces specifically created to collect tax payments. There are twelve of these task forces and they are determined to collect millions of pounds of unpaid taxes. So fat they have collected extra tax, fines - [Plumber Jailed For Tax Evasion](https://www.vincent.co.uk/plumber-jailed-for-tax-evasion/) - Following our recent comments about public attitudes to tax evasion changing, we've recently seen a blog in the press about a plumber who has been jailed for tax evasion. Ian Cowie of the Daily Telegraph reported that despite the public backlash against a comment by a Treasury minister that paying trades people in cash - [The Cost of Waiting To Speak To HMRC](https://www.vincent.co.uk/the-cost-of-waiting-to-speak-to-hmrc/) - A national newspaper has reported in the last few days that tax payers could face a wait for nearly half an hour when calling the HMRC. The Low Incomes Tax Reforms campaign group did a mystery shop last week, making three telephone calls posing as a PAYE caller, a pensioner and a tax credit claimant. - [PAYE on Tips, Service Charges and Gratuities](https://www.vincent.co.uk/paye-on-tips-service-charges-and-gratuities/) - When tips are given by customers these also need to be accounted for in the Employers payroll. There are various rules which apply: 1. Money given directly to an employee and not passed on to the employer: When an employee is given tips directly from a customer and is allowed to keep them you do - [VAT on Tips, Service Charges & Gratuities](https://www.vincent.co.uk/vat-on-tips-service-charges-gratuities/) - Businesses that receive tips or charge their customer Service Charges may be unsure as to whether they are liable for VAT on the money they receive. According to HMRC the treatment of the money received depends on whether the money is freely given by the customer o a compulsory charge by the business. When a - [HMRC Enquiries and Dispute Service](https://www.vincent.co.uk/hmrc-enquiries-and-dispute-service/) - In 2010 HM Revenue and Customs gained new powers regarding "information requests" and compliance visits in connection with your tax affairs. As you know these investigations have increased exponentially in recent years. The purpose is to monitor the quality of accounting records in support of future tax return. Although we are aware that HMRC must - [What Are Working Tax Credits?](https://www.vincent.co.uk/what-are-working-tax-credits/) - What Are Working Tax Credits (WTC)? There are two types - Working Tax Credits and Child Tax Credits. Tax credit is not a tax it is a payment from the Government to help with everyday costs, paid directly to you via any Bank, Building Society or Savings A/C’s that accepts direct payment. Working Tax Credit – Do I qualify? - [How to Set-Up Your Company and Register as Self-Employed](https://www.vincent.co.uk/how-to-set-up-your-company-and-register-as-self-employed/) - Introduction Setting up as a self-employed sole trader is the simplest and quickest way to start your business. There is paperwork to do, but it is relatively straightforward. There are no registration fees to pay, but you must register with HM Revenue & Customs for tax and National Insurance purposes. Record keeping and accounting is - [Chancellor's 2013 Autumn Budget Statement](https://www.vincent.co.uk/chancellors-2013-autumn-budget-statement/) - There were a few surprises among the array of consulted and well-trailed announcements in the Chancellor’s speech. The personal allowance will increase to £10,000 in 2014/15. The higher rate (40%) tax threshold will increase by £415 to £41,865. A transferable tax allowance of £1,000 will be introduced for married couples and civil partners from April - [HMRC Rental Property Campaign](https://www.vincent.co.uk/hmrc-rental-property-campaign/) - Do you own a property and let it out? Unless this is for long-term holiday lets, student lets and workforce lets, you may attract the attention of HMRC. HMRC has a new campaign targetting property owners who have not declared the correct tax relating to undeclared rental income. This will go on for an unusually - [Poor Credit But Need A Mortgage?](https://www.vincent.co.uk/poor-credit-but-need-a-mortgage/) - At Vincent & Co we have a wide range of trusted contacts we can call upon to help you with all sorts of money-related issues you may have. One of the biggest investments many of us is likely to make is a mortgage – but what happens if you have poor credit and perhaps a - [Could You Be Financially Penalised For Doing Nothing?](https://www.vincent.co.uk/could-you-be-financially-penalised-for-doing-nothing-2/) - You've probably heard in the news about the risk to hundreds of thousands of families who will lose child benefit payments this year. Under the proposals, households in which one parent earns more than £50,000 will lose some or all of their child benefit, which is worth more than £1,700 a year for a family with two children. - [Want Your Business to Succeed? It's All About The Accountant!](https://www.vincent.co.uk/want-your-business-to-succeed-its-all-about-the-accountant/) - A major new study published this month by accountants CBW has looked at the reasons for businesses thriving or failing and found that business angels and other sources of equity funding provide technology companies with good opportunities to succeed compared with borrowing from banks. The study also revealed that technology, media and telecommunications businesses need - [Top Ten Considerations When Changing Your Accountant](https://www.vincent.co.uk/top-ten-considerations-when-changing-your-accountant/) - Thinking of changing your accountant? It's a very serious step to take and you can't take it lightly, so we've devised Top Ten Considerations for you to explore before you change. How good is your relationship with your current accountant? It's obviously not that great if you are thinking of changing. Do you know why - [Coffee Shop Advice From HMRC](https://www.vincent.co.uk/coffee-shop-advice-from-hmrc/) - HM Revenue and Customs plans to save £13m a year by closing all 281 advice centres stretching from Penzance in the south-west to Wick in the Highlands. These provide face-to-face help on tax and will be replaced them with a mobile service which will see advisers making "home visits" and even meeting people in coffee - [Are You Ready for RTI?](https://www.vincent.co.uk/are-you-ready-for-rti/) - April is fast approaching and so is the introduction of HMRC’s new PAYE System Real Time Information (RTI). All Employers should now have received information from HMRC on RTI, however it may seem like a lot of work. Below are the things you need to do to be ready for the introduction of RTI. You - [Finance Bill 2013 - Various Tax Changes](https://www.vincent.co.uk/finance-bill-2013-various-tax-changes/) - The Finance Bill 2013 will introduce a range of tax changes. Here are the key ones which could affect you. Corporation tax rates The main rate of corporation tax will reduce to 21% from 1 April 2014; this is an additional reduction of 1% against the planned rate. The small profits rate remains 20%e: The - [Finance Bill 2013 - Pensions](https://www.vincent.co.uk/finance-bill-2013-pensions/) - The Finance Bill 2013 will make some changes to pensions. Read this then call us for more information. Pensions tax relief – annual allowance The annual allowance for pension relief on contributions to pension schemes will be reduced from £50,000 to £40,000 from April 2014, that is for pension input periods (PIPs) ending in the - [Finance Bill 2013 - Inheritance Tax](https://www.vincent.co.uk/finance-bill-2013-inheritance-tax/) - There are a few changes to the Inheritance Tax rules coming with the Finance Bill 2013. Here is a summary of the changes. If you have any issues please call us and we will be delighted to answer any questions. IHT Nil Rate Band The nil rate band has been frozen for a number of years. - [Corporation Tax - Foreigh Dividends Are Tax Exempt](https://www.vincent.co.uk/corporation-tax-foreigh-dividends-are-tax-exempt/) - Following a case involving First Nationwide, HMRC has recently issued guidelines relating to how companies should treat share-related income (i.e. dividends and capital distributions) they receive from shares in overseas companies. The exemption, which is applied to shares from UK companies, also applies to overseas company shares. There has been some confusion over this as - [New VAT Registration Certificates](https://www.vincent.co.uk/new-vat-registration-certificates/) - HMRC is carrying out a review of VAT registration certificates and some businesses may receive amended certificates. This is due to changes in the way HMRC records business addresses. If you receive an amended certificate you must check all the details are correct. If they are not call Vincent & Co and we can liaise - [Real Time Reporting of Tax Information](https://www.vincent.co.uk/real-time-reporting-of-tax-information/) - Real time reporting of tax information begins in earnest from this April. Employers must send via the Internet details of employee salaries, tax deducted, National Insurance, etc., each time an employee is paid, not just at the end of the tax year. P35 and P14 forms will no longer be required. HMRC wanted the penalties - [Business Records Checks - Protect Against HMRC Disputes](https://www.vincent.co.uk/business-records-checks-protect-against-hmrc-disputes/) - At Vincent & Co we have a great insurance product which protects you against the cost of fees if you become involved in a dispute with HMRC. You probably know HMRC's Business Record Checks have returned as HMRC officially re-launched the pilot in November. The first pilot was heavily criticised for the cost effectiveness of - [Tax Implications of The Chancellor's Statement](https://www.vincent.co.uk/tax-implications-of-the-chancellors-statement/) - You may have heard the recent statement from the Chancellor George Osborne, which was in effect a mini-Budget. Here are the key points relating to tax which we have summarised for you: Personal Tax 2013/14 For those aged under 65 years the personal allowance will be increased from £8,105 to £9,440 a year. This is part - [VAT Rules Changes on Building & Construction of Approved Protected Buildings](https://www.vincent.co.uk/vat-rules-changes-on-building-construction-of-approved-protected-buildings/) - From 1st October 2012 HMRC changed the VAT treatment of approved alterations to protected buildings and the first grants of a major interest in a substantially reconstructed protected building. It affects all listed residential dwellings and listed buildings used for charitable or other residential purposes and places of worship. Under the new rules from HMRC, - [Interesting HMRC Tax Articles](https://www.vincent.co.uk/interesting-hmrc-tax-articles/) - We recently reported that HMRC is actively recovering unpaid tax and we have found more details which support this. HMRC has apparently received the names, addresses and account details of every British account holder of HSBC Bank Jersey. The Daily Telegraph reports that this list identifies up to 4,388 people holding nearly £700 million in offshore - [The Next Big Tax Avoidance Scandal?](https://www.vincent.co.uk/the-next-big-tax-avoidance-scandal/) - An interesting example of possible tax avoidance has been in the public view recently. A company based in the Channel Islands provides staff, mostly teachers, to schools on the mainland UK. As they are based off-shore the company does not have to pay employer's National Insurance contributions. Such organisations are known as 'umbrella' companies. This - [Are You A Tax Abuser?](https://www.vincent.co.uk/are-you-a-tax-abuser/) - The tax General Anti-Abuse Rule, known as GAAR, is now law. There are rumours that this may be used to stop income shifting between spouses despite HMRC losing a case between husband and wife owners of a company ten years ago. You could attract the attention of HMRC if you pay your spouse a salary, - [Can You Disincorporate Your Business Tax Free?](https://www.vincent.co.uk/can-you-disincorporate-your-business-tax-free/) - The new disincorporation tax relief removes the corporation tax problem when you transfer your business to a partnership or sole trader, but there are severe income tax implications. Making this change could trigger a corporation tax bill. The Office of Tax Simplification decided this was unfair to business owners and introduced the disincorporation tax relief - [Employers Attacked Over RTI Mistakes](https://www.vincent.co.uk/employers-attacked-over-rti-mistakes/) - We've kept you updated with the introduction and issues with Real-Time Information (RTI), and now we have further information about how employers who make mistakes in RTI reporting have been fined. Between July and the end of September HMRC carried out a review of discrepancies between the amount of PAYE tax and NI employers thought - [How To Double Your Inheritance Tax Relief](https://www.vincent.co.uk/how-to-double-your-inheritance-tax-relief/) - If you leave your business to your spouse in your will to keep it in the family, this is IHT free, but there is a way to double this relief. If you own all or part of a business you can transfer this to anyone in your will while you are alive as long as - [When Is A Structure Not A Building?](https://www.vincent.co.uk/when-is-a-structure-not-a-building/) - The cost of providing a shelter for employees who smoke can be high – but can you claim a tax deduction for this? It all depends on whether this structure is a building or a piece of fixed equipment. Accountants sometimes struggle with this! If it has four walls and a roof then it's a - [Do you want HMRC to raid your bank account?](https://www.vincent.co.uk/do-you-want-hmrc-to-raid-your-bank-account/) - Continuing our mission to keep you updated with the latest from HM Revenue and Customs, we've discovered that they will be given powers to access bank accounts, but, thank goodness, not to empty them. It's been in the news again recently and many businesses are seriously concerned. New powers allowing HMRC to raid bank accounts - [Received Your Letter From Number 10?](https://www.vincent.co.uk/received-your-letter-from-number-10/) - The Prime Minister has written to 1.25 million businesses in the UK stating that “the new Employer Allowance could take £2000 off your National insurance Contributions.” The letter goes on to thank businesses for contributing to the up-coming success of the UK via our contribution to the economic recovery. This includes many businesses in Torbay. - [Do You Have Enough People In Your Business?](https://www.vincent.co.uk/do-you-have-enough-people-in-your-business/) - Do you have enough people to run your business effectively and profitably? Worried you cannot afford to hire more people? If so, how about an apprentice? Apprentices receive the appropriate minimum wage for their age while they train and can be a great advantage to small companies. The Apprenticeship Grant for Employers scheme (AGE) ensures - [Will Inheritance Tax Make The Elderly Move Abroad?](https://www.vincent.co.uk/will-inheritance-tax-make-the-elderly-move-abroad/) - Could UK Inheritance Tax Make The Elderly Move Abroad? We recently informed you about changes to Inheritance Tax rules. We have now uncovered fears that elderly people could be driven overseas by a Government clampdown on the use of trusts to prevent their assets being swallowed up by inheritance tax. The Institute of Economic Affairs - [Lack of Mentoring Could Be Harming Business Growth](https://www.vincent.co.uk/lack-of-mentoring-could-be-harming-business-growth/) - We've discovered that a lack of mentoring in the UK is holding back five million small and mid-sized British businesses (SMEs) from achieving growth and contributing to the economy. These business are twice as likely to fail in five years' time than those who follow the advice of an experienced advisor. According to new research - [Are Pop-Ups Causing A Retail Revolution?](https://www.vincent.co.uk/are-pop-ups-causing-a-retail-revolution/) - Many seaside towns, including several nearby, are suffering from empty shops and deserted high streets. This destroys the atmosphere of our towns and give the impression of shabby, uncared for shopping areas. But, a retail revolution, stimulated during the recession, is gathering pace and could contribute £2.1bn to the economy this year, a study forecastsPop-up - [Are You a Pressure Cooker?](https://www.vincent.co.uk/are-you-a-pressure-cooker/) - Are you about to explode because of the stress of running your business? More than two-thirds of entrepreneurs say running a business is more stressful today than it's ever been. The figure of 71 per cent is up from 66 per cent in 2013, and 65 per cent in 2012, according to a study of - [Self-Employed and Need a Mortgage?](https://www.vincent.co.uk/self-employed-and-need-a-mortgage/) - Obtaining a mortgage used to be reasonably straight forward but recent changes mean lenders want to see strong proof of income plus the ability to keep-up mortgage payments if interest rates rise. But what about self-employed or freelance people whose income fluctuates from month to month? Producing two or three years' of accounts can overcome - [Real Time Information - We're Not Ready!](https://www.vincent.co.uk/real-time-information-were-not-ready/) - HM Revenue & Customs has had to postpone a major overhaul of payroll taxes because small businesses have complained that they're not ready. Real Time Information or RTI was originally introduced for employers to provide information about tax and National Insurance each time they pay an employee, instead of annually – due in October this - [New Rules About Wills and Inheritance Tax](https://www.vincent.co.uk/new-rules-about-wills-and-inheritance-tax/) - There has recently been an announcement about new rules surrounding wills and inheritance tax (IHT). The rules make the legal situation more clear and precise, so it's a good idea to ensure you have a will, chose your executors wisely, and let your close family members know you have a will. Currently 47% of UK - [Want to be your own boss? New funding from the government](https://www.vincent.co.uk/want-to-be-your-own-boss-new-funding-from-the-government/) - As part of the government's scheme to find and keep people in work they have introduced The New Enterprise Allowance. This is funding which will help people start their own business if they are on certain benefits and have a good business idea which would work. Already the scheme has resulted in: - around 53,000 - [Income Tax Relief on the Seed Enterprise Investment Scheme](https://www.vincent.co.uk/income-tax-relief-on-the-seed-enterprise-investment-scheme/) - New businesses often struggle to find investors at the time when they really need funds. The Seed Enterprise Investment Scheme (SEIS) is designed to help small businesses raise equity finance through tax reliefs to investors who purchase shares in the company. It is very appealing to investors due to this generous tax relief. Income Tax - [Changes to Pensions - How Much Tax Will You Pay?](https://www.vincent.co.uk/changes-to-pensions-how-much-tax-will-you-pay/) - From April this year it will be possible to take money purchase pensions benefits as virtually any mix of lump sum and income. The details are still being worked out but many people are not aware that there are tax implications to this. The tax situation does not change, so if you take money out - [Do You Work From Home?](https://www.vincent.co.uk/do-you-work-from-home/) - Do you work from home? Are you aware that you can claim a variety of costs from HMRC? Most people working from home have claimed the £4 per week allowance based on HMRC guidance, but this has now been updated. You can now calculate your allowable expenses using a flat rate based on the hours - [Merry Christmas To You And Your Staff From HMRC!](https://www.vincent.co.uk/merry-christmas-to-you-and-your-staff-from-hmrc/) - Now that's unusual, but it's true - if you are planning your Christmas party HMRC wants to celebrate with you! There is a exemption of £150 for your Christmas festivities available to employees, or if you provide two or more annual parties or functions there is no charge in respect of the party as long - [New Marriage Allowance Tax Break](https://www.vincent.co.uk/new-marriage-allowance-tax-break/) - From 6th April this year the new Marriage Allowance is a tax break available for more than 4 million married couples and 15,000 civil partnerships. Marriage Allowance will let you transfer some of your Personal Allowance to your partner. This is the amount of income you receive before paying tax. This means a spouse or - [Changes to the Collection of Class 2 NICs from 2015](https://www.vincent.co.uk/changes-to-the-collection-of-class-2-nics-from-2015/) - Following our policy of keeping you up-to-date with key HMRC news, we have information that there are changes to the collection of Class 2 National Insurance Contributions from the 2015/16 tax year. The collection of these will change from the existing six monthly bills and direct debits to the Self-Assessment process. This means the self-employed - [Taxation – The Intentions of the Main Political Parties](https://www.vincent.co.uk/taxation-the-intentions-of-the-main-political-parties/) - Following our promise to keep you as up-to-date as possible with all things financial, we have obtained an at-a-glance guide to the intentions of the main political parties regarding taxation.The Certified Public Accountants Association has sifted through all 592 pages of the manifestosbelonging to the Conservatives, Labour, Liberal Democrats, Green Party, UKIP, Scottish National Party and - [New Business Growth and Improvement Programme](https://www.vincent.co.uk/new-business-growth-and-improvement-programme/) - Do you feel you need help to give your business a jump start? Or perhaps you’ve been trading successfully for some time but now need direction about how to grow further? The Business Improvement and Growth (BIG) Programme from Vincent & Co is designed to give your business its own, bespoke plan of action for - [Tax Credits Changes and the Risk of Overpayment](https://www.vincent.co.uk/tax-credits-changes-and-the-risk-of-overpayment/) - Tax credits are state benefits that provide extra money to people responsible for children, disabled workers and other workers on lower incomes. There are two types of tax credits – child tax credits and working tax credits. Tax credits are means-tested. So, whether you qualify and how much you get depends on your household's income - [HMRC and Late Filing Penalties – No New News!](https://www.vincent.co.uk/hmrc-and-late-filing-penalties-no-new-news/) - Have you seen the recent news coverage about HMRC cancelling their usually strict £100 penalty if you are late with your tax returns? We need to tell you that this is not new news! Nothing has changed at the HMRC: they have always accepted an appeal if you have a reasonable excuse for late filing - [Changes to Dividend Tax Rates](https://www.vincent.co.uk/changes-to-dividend-tax-rates/) - In the summer Budget there was an announcement about changes to dividend taxes from April 2016. All taxpayers will have a dividend allowance of £5,000 a year at the new tax rate - which is better for many small investors seeking income from their shareholding. After this, the rate of tax payable on dividends will - [Make your spare room work for you!](https://www.vincent.co.uk/make-your-spare-room-work-for-you/) - Did you know that the Rent a Room Scheme could earn you up to £4,250 tax-free income a year? You can rent out just one room or an entire floor of your home. These have to be furnished and the space must be in your only or main home. You can opt in to the - [Tax Credits: How can you work out if you are entitled to them?](https://www.vincent.co.uk/tax-credits-how-can-you-work-out-if-you-are-entitled-to-them/) - There is considerable confusion over the changes to tax credits, but as the government is committed to introduce these alterations we thought we would try to clarify the situation. Currently, if annual household income is below £6,420 then the maximum level of tax credits is awarded. From April 2016 the household income will go down - [Tax Tips and News](https://www.vincent.co.uk/tax-tips-and-news/) - Welcome to our very first financial newsletter of a different kind, designed to keep you informed. Here, we focus on the big economic events of today, affecting us all, as we go about our ordinary lives. And, as part of our central ethos of working with you and developing the close working relationship that we - [So Why Become a Landlord?](https://www.vincent.co.uk/so-why-become-a-landlord/) - Some people become a landlord accidentally by inheriting a house, or by retaining a former home when you move house. There is an attractive tax incentive for letting a former home. Alternatively, you may buy property with the specific intention of letting it. An investment in let property can create a second income stream for - [Gift Vouchers and Employee Incentives](https://www.vincent.co.uk/gift-vouchers-and-employee-incentives/) - If you give your employees incentives as part of a package of pay, you will have to pay PAYE tax and National Insurance on them. There are different rules for what you have to report and pay depending on what the award is and whether it’s you or someone else who makes the award to - [News: Online Petition Against Filing Tax Returns Four Times a Year](https://www.vincent.co.uk/news-online-petition-against-filing-tax-returns-four-times-a-year/) - The Daily Telegraph reveals that more than 100,000 small business owners and self-employed workers have joined forces to fight a Government proposal that would force them to file tax returns four times a year instead of annually. The newspaper reports that complying with the new rules would cost these companies and individuals between 20% and - [Newsletter: Correction Not Crisis](https://www.vincent.co.uk/newsletter-our-economy-today/) - Welcome to the second of our series of financial newsletters of a different kind, supplementary to our Tax Tips & News, designed to keep you informed. The focus here is firmly on the big economic events of the day, representing part of our central ethos of working with you and developing the close working relationship - [Cash Sales Business? Check your Cash Register Records Carefully](https://www.vincent.co.uk/cash-sales-business-check-your-cash-register-records-carefully/) - As the owner or manager of a cash sales business, how often do you check the records on your cash register? ## Pages - [Home](https://www.vincent.co.uk/) ## Categories - [News Articles](https://www.vincent.co.uk/category/news-articles/) ## Tags - [Accountants in Torbay](https://www.vincent.co.uk/tag/accountants-in-torbay/) - [Accountants in Torquay](https://www.vincent.co.uk/tag/accountants-in-torquay/) - [accounts](https://www.vincent.co.uk/tag/accounts/) - [business finance](https://www.vincent.co.uk/tag/business-finance/) - [corporation tax](https://www.vincent.co.uk/tag/corporation-tax/) - [Devon accountants](https://www.vincent.co.uk/tag/devon-accountants/) - [finance](https://www.vincent.co.uk/tag/finance/) - [General Anti-Abuse Rule](https://www.vincent.co.uk/tag/general-anti-abuse-rule/) - [HMRC](https://www.vincent.co.uk/tag/hmrc/) - [HMRC advice](https://www.vincent.co.uk/tag/hmrc-advice/) - 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