Watson Knipe Blog

On 19 December 2022, the UK Government announced that the first phase of Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA) will now be mandated starting from April‌‌‌ ‌‌2026, rather than from April‌‌‌ ‌‌2024.

This is a summary of the latest UK Rental Report created by Zoopla, published on 9 December 2022. This is useful information for landlords and property investors that want to check what the latest trends are in the rental sector.

As we are getting close to Christmas, we thought we would share an update about employers’ obligations regarding social functions and parties for your employees. It’s important to note that this also applies to online or virtual parties.

The Chancellor announced several changes in the Autumn Statement that impacted Income Tax. We have summarised the key points below for income tax rates, income tax allowances and dividends.

The Autumn Statement gave updates on several areas that will be of interest to businesses, these include Corporation Tax Rates, Capital Allowances, R&D, Investment schemes for businesses, VAT and National Living Wage rates.

In the Autumn Budget 2022, there were some updates on Capital Gains Tax, Inheritance Tax, and Stamp Duty Land Tax. Below is a summary for each of these areas.

In September 2021, the government published its proposals for new investment in health and social care in England. The proposals were intended to lead to a permanent increase in spending not only in England but also by the devolved governments.

On 17 November 2022, the government undertook the third fiscal statement in as many months, against a backdrop of rising inflation and economic recession. The Chancellor laid out three core priorities of stability, growth and public services.

On 25 October 2022, the Energy Prices Bill received Royal Assent and is now called the Energy Prices Act 2022. You will be aware of this because it applies to all homes in England, Scotland, and Wales to help with domestic energy costs.

We all know it’s difficult to run a business as the cost of living and inflation are increasing in the UK. We have collated some information about a few small business grants that may interest you.

If you are a VAT-registered business, then you will know that by law, you must now sign up for Making Tax Digital (MTD) and use MTD-compatible software to keep your VAT records and file your VAT returns. 

The week leading up to Chancellor Kwasi Kwarteng’s ‘Mini Budget’ may have been a short one due to the Queen’s funeral, but the new government managed to fill it with a stream of policy announcements.

This article summarises some key points found in the Zoopla UK Rental Market Report Q3 2022, published on 13 September 2022. It’s useful for landlords and property investors to keep updated with changes and trends within the rental sector.

We provide tax planning services for doctors and other medical professionals. There are different levels of service available depending on what your needs are, this includes personal tax planning, annual tax self-assessment returns as well as inheritance tax planning.

Over the summer, many businesses are quieter than normal as everyone takes time off over the school holidays. If it’s a quieter time for you, then it may be a good opportunity to get all your paperwork ready for the next tax return.

Each year we help our clients with their statutory accounts. We wanted to explain further what statutory accounts are for new businesses or businesses that have recently changed their company structure from a sole trader to a Limited Company.

We have summarised some key points from the Zoopla UK House Price June Index Report, published on 2 August 2022. The information will interest anyone considering buying or selling a domestic property and landlords and property investors.

We work with a variety of businesses from different sectors offering payroll services. Louise Warden is AAT qualified her main role is to support clients with payroll and auto-enrolment (workplace pensions). 

Over the past few years, there have been many changes to tax relief on interest payments for buy-to-let properties. This has resulted in landlords and property investors looking for more tax-efficient ways to manage their property investments.

In the Spring Budget, March 2022, some changes to R&D tax relief were announced. From April 2023, several changes were proposed to the regimes from both existing relief schemes, including the expansion of relief to cloud and data computing.