Premier Accounts Blog

The Economic Affairs’ Finance Sub-Committee of the House of Lords has written to the Government, listing key recommendations on off-payroll working rules known as IR35. IR35 legislation aims to prevent tax avoidance by workers who contract out their services through a...

The British Chambers of Commerce (BCC) has revised its forecast for GDP growth in 2022, which is now expected to grow at half the rate as it did in 2021. GDP is now expected to grow in 2022 by 3.6%, revised down from 4.2% and compared to 7.5% growth in 2021. The...

The Government has opened a public consultation into a new online sales tax (OST) to “rebalance” the taxation of online and in-store retail businesses. The Treasury published its consultation on 25 February 2022, seeking answers from stakeholders on 40 questions about...

More than one million individuals completed their self-assessment tax return by the extended deadline at the end of February 2022. HMRC estimates 11.3m of 12.2m of the taxpayers who had to file a self-assessment tax return for the 2020/21 tax year did so by 28...

Tax changes kicking in from 6 April. By the time you’re reading this, the new tax year is either just about to start or has already started. Some of the changes have been public knowledge for months now and some of the rises have been anxiously awaited as the country...

Take control of your business finances You don’t have to spend long running a business before you realise how important cashflow is: the balance between money coming into your company and the money going out on a weekly or monthly basis. There’s not much in commerce...

Introduction Amid rising pressure to bring in significant relief measures to combat the current international emergency, Chancellor Rishi Sunak implied ahead of time that he could only do so much. Speaking at the weekend, he acknowledged concerns about price hikes and...

How termination payments are taxed. We may only be three months into 2022 but plenty of big employers – both here in the UK and overseas – are making employees redundant for a myriad of reasons.  OVO Energy is reportedly trying to control costs by cutting 1,700...

HMRC’s evolving approach towards taxing crypto. Cryptocurrencies continue to become more mainstream, and the taxman’s very aware of the gains investors have made in the last five or six years.  Back in 2009, investors could snap up one Bitcoin for $1. Fast...

The Treasury is being urged to consider a late U-turn on introducing the National Insurance contributions (NICs) increase next month to boost apprenticeships.  All NICs rates will increase by 1.25% from April 2022 to help fund the development of the new...