Watson Knipe Blog

Is 2022 the year you are planning to start your own business? If it is then we want to offer some advice to help you get started smoothly. It’s a very exciting time and if you can get some of the basics right from the start then you can reduce the challenges that may occur further down the line.

It’s important to understand the changes to personal tax and the allowances available to you over the coming year to help with financial planning. We have pulled out some key information that will be useful for you following the changes announced by the Chancellor in the Autumn Budget 2021.

In the Autumn Budget 2021, several changes were announced which would impact on businesses that have employees. We have written this article summarising some of the main changes that you need to be aware of if you are an employer.

This article outlines some changes to corporation tax, capital allowances and the R&D tax relief that may be applicable to your business over the next couple of years.

As we are quickly approaching the end of the year we wanted to remind you all that as well as Christmas you also need to think about your self-assessment tax return submission.

We work with a lot of landlords and property investors in the East Midlands and London, so we keep abreast with how the rental market is performing. Here is a recent update for November 2021 which will be of interest if you have properties that you rent.

This article gives an update following the Autumn Budget 2021 on Making Tax Digital (MTD) that businesses need to be aware of in preparation for 2022. The MTD regime is based on businesses being required to maintain their accounting records in a specified digital format and submit extracts from those records regularly to HMRC.

Rishi Sunak announced the Autumn Budget and Spending Review which covers many different areas from Personal Tax, Employment, Business Tax and Capital Taxes. We have pulled out two key areas that will be of interest to landlords and property investors.

Chancellor Rishi Sunak presented his third Budget on 27 October 2021. In his speech, he set out the plans to “build back better” with ambitions to level up and reduce regional inequality.

If you live or work overseas, then your UK tax status will be affected. We offer a wide range of services for expatriates and help them to ensure they are compliant with tax legislation in the UK.

We like to keep our clients and contacts up to date with property sector updates. Here are a few key headlines that we have found recently which we think will be of interest to you.

In September 2021 HMRC announced a new system they are implementing to deal with anyone that submits their VAT or tax returns late.

We have supported landlords and property investors for many years. We know that managing finances and keeping track of income and expenditure can be difficult.

If you are self-employed and have claimed the Self-Employment Income Support Scheme grants (SEISS) during the lockdown, you must read this article.

Many of you will have heard about the Government's plans for Making Tax Digital (MTD). We have written this article to explain what this will mean for landlords and property investors.

If you are an employer, you may already know about National Minimum Wage and the National Living Wage changes.  If not, then this article will be helpful for you.

We frequently work with landlords and property investors, advising them on the financial management of their property portfolios and exploring ways to mitigate their tax liabilities.  Therefore, we like to keep up to date with any changes in legislation that may impact our clients.

Do you or your employees have company cars? If you do, you need to keep an eye on the advisory fuel rates, updated by the HMRC every quarter. The fuel rates are reviewed on the following dates each year:

If you are self-employed and have accessed the Self-Employment Support Scheme, you should read this article as it gives more information about the fifth grant.

Are you thinking of buying property to rent out, or maybe you have recently acquired your first buy-to-let property? If so, this article is well worth a quick read.  We regularly work with landlords and property investors across the East Midlands and the UK, and so we wanted to share some tips that will help you from the outset.

If you are now working from home due to the Coronavirus pandemic, you may be eligible for tax relief on some of your additional costs related to homeworking. This tax relief is only for employed people, and you must work full-time or part-time from home due to the pandemic.