Autumn Statement 2023 On 22 November 2023, Jeremy Hunt delivered the ‘Autumn Statement for Growth’. Against an improving economic backdrop, the Chancellor is keen to stimulate economic growth and highlighted 110 measures for businesses. In addition, there were...
On 16th May, the IASB published guidance regarding the effects of climate related matters on financial statements prepared in accordance with the IFRS for SMEs financial statements. Full guidance can be found here. The guidance contains examples of areas where...
The government is currently consulting on various options to simplify non-financial reporting rules indicating consideration of the appropriateness of the current company thresholds. The Department for Business and Trade (DBT) and Financial Reporting Council (FRC) are...
The government has recently announced its Energy Bill Relief Scheme for businesses. This scheme will give businesses a discount on their bills based upon a government-supported baseline price. The government has said that small businesses will receive the same level...
Accountancy firms have been informed by HMRC that the “soft landing” penalty waiver for Making Tax Digital for VAT will be removed from 1 November 2022. All businesses that file their VAT returns monthly or quarterly must now sign up to Making Tax Digital (MTD) and...
Spring Statement 2022 Against a backdrop of rising inflation, Chancellor Rishi Sunak presented his first Spring Statement on Wednesday 23 March 2022. In his Spring Statement, the Chancellor announced a cut in fuel duty for petrol and diesel as he sought to ease the...
Reform of R&D tax relief In Spring 2021, the government announced a review of R&D reliefs with the objective of ensuring the UK remains a competitive location for cutting edge research and that the tax reliefs provided to businesses continue to be fit for...
HMRC are to introduce a Plastic Packaging Tax from 1 April 2022. The aim is to incentivise businesses to use more recyclables in the manufacture of plastic packaging. In turn, this will stimulate increased levels of recycling and collection of plastic waste, diverting...
The government has announced that the new penalty regime for VAT, which was due to be introduced from 1 April 2022, will now be delayed until January 2023. The delay is to provide HMRC with extra time to ensure their IT systems are ready and well tested. The new...
Autumn Statement 2023 On 22 November 2023, Jeremy Hunt delivered the ‘Autumn Statement for Growth’. Against an improving economic backdrop, the Chancellor is keen to stimulate economic growth and highlighted 110 measures for businesses. In addition, there were...
On 16th May, the IASB published guidance regarding the effects of climate related matters on financial statements prepared in accordance with the IFRS for SMEs financial statements. Full guidance can be found here. The guidance contains examples of areas where...
The government is currently consulting on various options to simplify non-financial reporting rules indicating consideration of the appropriateness of the current company thresholds. The Department for Business and Trade (DBT) and Financial Reporting Council (FRC) are...