Juggling Christmas Festivities and the Self-Assessment Tax Return Deadline
As the festive season draws near, the excitement of Christmas is palpable across the country, particularly here in Wigan. With the streets of Standish bedecked in twinkling lights, the scent of spiced mulled wine wafting through the air in Scholes, and the melodies of carols echoing in bustling market squares of the town centre, it’s […]
Has having an electric company car just got even better?
HM Revenue & Customs (HMRC) have now confirmed the position for employees being reimbursed by their employer in relation to home electricity costs. There was always some confusion as to whether this would trigger a Benefit in Kind (BIK). However, HMRC have now made the treatment clearer, and its good news for the employee (if […]
NRB Accounts – providing quality services
Here at NRB we offer a comprehensive accountancy service which is tailored to the specific needs of your business. We cater for all types of businesses such as: We ensure that your business’ accounts meets all its compliance requirements with both Companies House and HMRC and in doing so remove the admin burden and allow […]
Self Assessment Threshold Change
From the tax year 2023 to 2024 onwards, the self assessment threshold for individuals taxed through PAYE only, will change from £100,000 to £150,000. The affected individuals do not need to do anything for the tax year 2022 to 2023 as the tax return threshold remains at £100,000. However, they will receive an exit letter […]
Research and Development (R&D) Updates
How HMRC are tightening up on Research & Development claims HMRC are tightening up on the Research & Development (R&D) claims process in order to tackle errors and suspected abuse of the regime. They have therefore introduced what they feel will be a more robust process to enable them to monitor the whole claims process […]
Appointment of Mark Worsley as Chairman
NRB are delighted to announce the appointment of Mark Worsley as Chairman. Mark brings his vast experience and wealth of knowledge to the Board, and his appointment is an important step in the continued growth and development of NRB. Director Ady Farrimond commented ‘We are absolutely delighted that Mark has accepted the role of Chairman […]
Spring Budget 2023 – The Highlights
The long-awaited Budget was delivered by Jeremy Hunt earlier today, his first as Chancellor of the Exchequer. Being billed by the Government as one that will encourage people back to the workforce and boost the UK’s economy growth, the Chancellor opened his budget speech with “today we deliver the next part of the plan, a […]
VAT Portal Closure
Making Tax Digital has been slowly rolling out to VAT registered businesses over the last few years. Under the requirements, eligible businesses must keep financial records digitally, and use MTD compatible software to submit this data to HMRC. Since April 2022, the requirement to be digital with HMRC has extended to include any remaining VAT […]
Don’t forget to claim your Covid 19 Additional Rates Relief
The government has set aside funds for local councils to make available to support those businesses affected by the pandemic, but that are ineligible for other support linked to business rates, such as the Retail, Hospitality & Leisure Relief Scheme. The Covid 19 Additional Rates Relief is payable in respect of the 2021-22 financial year […]
HMRC write off £4.3bn in Covid payments lost to fraud
HMRC are expecting to recover £1 of every £4 stolen from the public purse by fraudsters during the pandemic. In figures published last week a total of £4.3 billion has been written off. This represents c74% of the total £5.8 billion that was stolen from its emergency Covid-19 schemes that supported swathes of the workforce […]
