Premier Accounts Blog

Most UK importers were unprepared for the recent introduction of import controls on EU goods, according to a report from the Federation of Small Businesses (FSB).  Full customs declarations and controls took effect from 1 January 2022, although safety and...

Almost a quarter of landlords plan to sell up over the next 12 months as buy-to-let becomes increasingly difficult to navigate, a report has claimed. Research from the National Residential Landlords Association (NRLA) found that 23% of property investors intend to...

HMRC is reminding taxpayers that the deadline to submit 2020/21 personal tax returns through self-assessment is on or before midnight on 31 January 2022. Some 407,510 startups were created during the 2020/21 tax year, despite the challenges presented by the...

Business structures are essential for tax purposes. If you’re looking to join the 4.3 million people in the UK who made the jump into self-employment, you might be wondering how to start your new business.  Assuming you’ve weighed up the pros and cons involved...

Tax-efficient advice for limited company directors. Believe it or not, there are more than 4.7 million limited companies registered in the UK, including the 810,316 incorporations that signed up in 2020/21.  Only around 2m are actively trading, but the number of...

Everything you need to know before April 2024. Making Tax Digital for income tax (MTD for ITSA) looks certain to affect sole traders and landlords from April 2024, following the recent news of a one-year delay.  This was the latest in a long line of delays and...

A new levy on large residential property developers’ profits intends to raise around £2 billion over the next 10 years, starting from next spring.  The ‘cladding tax’ will be a 4% tax on developers with company profits of £25 million or more from residential...

Buy-to-let landlords and second homeowners have twice the amount of time to report and pay capital gains tax after selling a residential property in the UK. The deadline to report and pay capital gains tax after completing the sale of additional UK residential...

Reforms to the ways in which unincorporated businesses pay income tax – known as basis periods – will go ahead, one year later than planned.  Proposals and draft legislation were published in July 2021, suggesting the new rules would commence from 6 April...

Delving into recent changes that affect the CIS. The construction industry remains one of the UK’s key sectors, which also helps to underpin the UK economy, despite experiencing the effects of the COVID-19 pandemic.  In September 2021, construction output grew by...