How you can pay yourself from your Limited Company

How you can pay yourself from your Limited Company

Congratulations! You’re now the Director of your very own company.  This is a very exciting time for you with lots going on. And because of that it’s easy to forget some of the fundamentals. Including how you can pay yourself from your Limited Company. And it’s not as straightforward as you may think. Being the […]

Making Tax Digital for VAT is mandatory

Making Tax Digital

Making Tax Digital for VAT is mandatory for ALL VAT-registered businesses and has been since the 1st of April 2022.  Even those under the VAT threshold (currently £85,000) must now comply. This means that all VAT-registered businesses are now required to: keep digital VAT records, and; send VAT returns using MTD-compatible software. Regardless of turnover. […]

New 64-8 form

New 64-8 form

From the 31st of March 2022, new clients now need to use a new 64-8 form to give their accountant or tax adviser authority to deal directly with HMRC on their behalf. Existing clients do not need to re-authorise their current relationship. How to access the new 64-8 form You can download the new form […]

Authorisation to discuss SEISS

Authorisation to discuss SEISS

HMRC will need additional authorisation to discuss SEISS (the Self Employed Income Support Scheme) grants with your accountant if you wish them to do so. They say this is because the existing process – the 64-8 agent authorisation – was not designed to cover the support provided in response to coronavirus, such as SEISS grants, […]

Spring Statement

Spring Statement

The Chancellor recently made his annual Spring Statement speech where he set out the Government’s tax plan to support the UK economy, businesses and families in both the short and the medium term.  It was delivered at a time of unprecedented cost of living rises and war in Ukraine.  It also comes off the back […]