Author Archives: Anna Cummings

Comments Off on New Office Location

New Office Location

New Office Location

Our telephone, fax and email addresses remain unchanged.  Our new address is:  BWM Accountants Limited Tempest Suite 5.1 12 Tithebarn Street Liverpool L2 2DT

Comments Off on Report sheds more light on changes to R&D regime

Report sheds more light on changes to R&D regime

Report sheds more light on changes to R&D regime

More details have emerged on upcoming changes to the UK’s research and development (R&D) regime, which will take effect from April 2023.  The Treasury published a report on R&D following last year’s Autumn Budget, in which Chancellor Rishi Sunak announced several new measures. “If we want greater private-sector innovation, we need to make our R&D … Continued

Comments Off on More red tape for importers as new EU checks kick in

More red tape for importers as new EU checks kick in

More red tape for importers as new EU checks kick in

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 security declarations are not required until 1 July 2022. Before 1 January 2022, full customs … Continued

Comments Off on One in four buy-to-let landlords ‘plan to sell up in 2022’

One in four buy-to-let landlords ‘plan to sell up in 2022’

One in four buy-to-let landlords ‘plan to sell up in 2022’

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 dispose of an additional residential property this year. Buy-to-let landlords said tougher tax rules, … Continued

Comments Off on HMRC issues last reminder for 2020/21 personal tax returns

HMRC issues last reminder for 2020/21 personal tax returns

HMRC issues last reminder for 2020/21 personal tax returns

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 pandemic. Those who are unincorporated require a unique taxpayer (UTR) code to file their first … Continued

Comments Off on Merry Christmas & BWM Opening Hours

Merry Christmas & BWM Opening Hours

Merry Christmas & BWM Opening Hours

All the team at BWM wish you a very happy festive period and a fantastic start to 2022! Christmas Opening Hours The BWM office will be closed over the Christmas period from close of business on Friday 24 December 2021 at 12pm until 9am on Tuesday 4 January 2022. In case of any issues arising … Continued

Comments Off on Budget confirms one-year delay for basis period reform

Budget confirms one-year delay for basis period reform

Budget confirms one-year delay for basis period reform

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 2023. Instead, sole traders and most business partnerships will be subject to … Continued

Comments Off on Tax reporting deadline for additional property sales extends

Tax reporting deadline for additional property sales extends

Tax reporting deadline for additional property sales extends

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 property is now 60 days – up from 30 days. The change … Continued

Comments Off on Six-month extension for COVID-19 recovery loan scheme

Six-month extension for COVID-19 recovery loan scheme

Six-month extension for COVID-19 recovery loan scheme

Chancellor Rishi Sunak has extended a coronavirus loan guarantee scheme in a bid to protect UK businesses into next year. Sunak used his Autumn Budget speech to announce a six-month extension of the recovery loan scheme, which had been due to end on 31 December 2021 but is now due to close on 30 June … Continued

Comments Off on Cladding tax to affect large property developers in 2022/23

Cladding tax to affect large property developers in 2022/23

Cladding tax to affect large property developers in 2022/23

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 development, although student and build-to-rent developments are exempt. It expects to … Continued