Vale & West Chartered Accountants Blog

Category Archives:Business News

Almost one million taxpayers handed late submission penalty after missing Self Assessment deadline

Nearly one million taxpayers have been fined after failing to submit their tax return on or before the 28 February Self Assessment deadline, it has been revealed.

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How would an Online Sales Tax affect your business?

The UK Government is set to assess whether to introduce an Online Sales Tax (OST) as a solution to the tax imbalance in the retail sector. Read More

Plastic Packaging Tax: what is the new levy and how can my business prepare?

The Plastic Packaging Tax – also known as the PPT – will come into force from next year. Read More

Workers claiming Working Tax Credit urged to update their hours

Workers in receipt of Working Tax Credit (WTC), have been urged to check if they need to update their working hours. Read More

Self-Employment Income Support Scheme: last chance to claim fifth grant

Today, 30 September 2021, is the last day self-employed workers can apply for the fifth and final Self Employment Income Support Scheme (SEISS) grant.

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Do I need to rethink my IR35 strategy while there is a shortage of lorry drivers?

Due to Brexit, driver retirement and the enforced IR35 reform, there is now a shortage of Heavy Goods Vehicle (HGV) drivers in the UK – around 100,000, according to some estimates.

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MTD for Income Tax delayed until April 2024, HMRC confirms

Making Tax Digital (MTD) for Income Tax will be delayed until April 2024, the Government has confirmed. Read More

Small developers invited to apply for up to £10 million in equity funding

Small and medium-sized developers have been invited to apply for up to £10 million in equity funding to build new homes.

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Reduce your tax bill with these four ‘quick wins’!

It is all too easy to pay too much tax. That’s the case for PAYE employees with relatively straightforward financial affairs, but the risk is highest for people with more complex finances because they own a business, invest in property, or are a high earner.

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Company insolvencies: over 8,700 chain stores have closed

Recent research shows that in 2021, over 8,700 chain stores have closed due to the major shift in online shopping – partly caused by the coronavirus pandemic. Read More

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