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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…
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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…
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The Chancellor’s 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…
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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…
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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Insurance contributions have increased from 6th April, and the rest of the key points are: The Chancellor has not rescinded the increase in NIC and the dividend tax, so most tax bills are going up by 1.25%; He has aligned…
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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!
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Making Tax Digital Regulations
The new MDT regulations have now been published. To summarise: Once you have reached your digital start date you have to continue to keep digital records and file these quarterly, regardless of turnover. Transactions need only be recorded with enough information to meet the quarterly deadline. Recording Cash or Accruals? The regulations state that digital…
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Budget Summary
The Chancellor of the Exchequer announced his Budget on Wednesday. In case you missed the main points they are: Giving money away: More money for almost every government department. Increased capital allowances for business. Cheaper beer. Reduced internal Air Passenger Duty. More Universal Credit where people are working. Rate relief on hospitality and retail. Better…
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New Drop-Off and Collect Facility
We’ve been doing some work on the offices and have reorganised ourselves. Next time you visit you will find reception has changed significantly. Most importantly, there is a counter for you to drop stuff in and interact with us. We’ve knocked the place about a bit, changed the flooring, redecorated, and generally had a refresh.…
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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. Whatever deal is finally agreed between the EU and the UK government, the VAT rules for UK traders will be different from 1 January 2021,…
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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…
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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. Making Tax Digital will now be: Extended to VAT-registered businesses with turnover below the £85,000 VAT threshold from April 2022 (In other words anyone VAT…