Crack down on cloned companies
The National Crime Agency estimates that £78m was lost in cloned companies scams in 2020 and that is probably an underestimate as many frauds are not reported.
Companies spared tax rise
The new Chancellor Kwasi Kwarteng has decided to keep the main rate of corporation tax at 19% at all profit levels.
NIC cut in November
The Government has decided to reverse the 1.25 percentage point increases in national insurance contribution (NIC) rates which were introduced from 6 April 2022.
Why you should get a head start on your self-assessment now
We believe that getting ahead of your taxes is a perfect way to reduce avoidable stress. Here’s why you should get a head start on your self-assessment now.
VAT portal to close
All VAT registered businesses are now required to file VAT returns using MTD-compatible software and keep VAT records in a digital format. This applies from the start of the first VAT period for newly registered businesses.
Paying your income tax bill
Many self-employed people will find January 2023 a tough month as it is predicted that domestic fuel bills will increase again and income tax payments will be due.