Firm news
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Firm news, tax planning and finance blogs by our team
We know how important it is for you to be able to find up to date business information, and our people love to share their knowledge about the news, and accounting and tax legislation. Here you will find links to our latest press releases, as well as tax planning and finance blog posts – all written by the Whitley Stimpson team, so you can read our take on topical subjects, and use our advice to help you to run your business. We have also shared the odd blog post or two about what we get up to in our communities, because we are proud to be a part of the areas where we live and work, and to support them where we can.
Join in the conversation, we would love to hear from you.
The benefits of R&D tax relief for SMEs
Jonathan Walton and Owen Kyffin of Whitley Stimpson shared their knowledge of Research and Development (R&D) tax relief and the benefits for SMEs in B4’s The Business Brunch.
Team player Stuart blows the whistle on a successful career
Stuart Haigh, director at Whitley Stimpson, is retiring after more than 35 years in accountancy.
Important changes to non-MTD VAT filing from April 2021
On 7 April 2021, HMRC will be unplugging its “VAT XML” filing system for organisations that are voluntarily registered for VAT, but who are not yet signed up for Making Tax Digital (MTD).
Heightened security around SEISS grants
HMRC will be increasing the validation checks relating to the fourth round of Self Employment Income Support Scheme (SEISS) grants in an effort to combat fraudulent claims.
National Insurance number ‘compromise’ scam
A National Insurance number scam has emerged with many receiving fraudulent calls in a bid to steal personal information for malicious purposes.
Two new SEISS grants
Two more grants under the self-employed income support scheme (SEISS) will soon be made available, capped at £7,500 each
Points and penalty system for making tax digital
HMRC has announced that they will use a new points based system to encourage taxpayers to submit MTD updates on time.
Super deduction for capital expenditure
The Government has announced a super deduction of 130% of capital expenditure on new qualifying plant and machinery.
Corporation tax to rise to 25% in 2023
The Chancellor announced that taxes would have to rise, but not quite yet, as all tax rates except for VAT are frozen for 2021-22.
Furlough scheme extended
The Chancellor has extended the furlough scheme until 30 September 2021, with no employer contributions required until 30 June 2021.
Stamp duty holiday extended
The Stamp duty land tax (SDLT) threshold was raised to £500,000 from 8 July 2020 to 31 March 2021 and will now remain at that level until 30 June 2021.
VAT boost for hospitality
Government has given hospitality venues a 15% VAT reduction on most sales. Where the business would normally collect 20% in VAT they currently only have to pay 5%.
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