The Treasury has confirmed that Making Tax Digital for income tax self-assessment (MTD for ITSA) will be delayed a further two years until April 2026. According to First Secretary to the Treasury Victoria Atkins, this phased approach will give businesses more time to prepare and adapt to new ways of working. The minimum reporting level … Continued
All the team at BWM wish you a very happy festive period and a fantastic start to 2023! Christmas Opening Hours The BWM office will be closed over the Christmas period from close of business on Friday 23 December 2022 at 12pm until 9am on Tuesday 3 January 2023. In case of any issues arising … Continued
Chancellor Jeremy Hunt announced several measures in this year’s Autumn Statement in an attempt to plug the £55 billion ‘black hole’ in public finances. The statement, delivered to the House of Commons on 17 November, included several tax threshold freezes and cuts in annual allowances. One of the most important changes was the announcement that … Continued
The Government’s reversal of the National Insurance contribution (NICs) increase is now in effect as of 6 November. The majority of working people will begin receiving the 1.25% tax cut in their payslips from November onwards. The rise in NICs was introduced in April as part of the health and social care levy but was … Continued
HMRC is reminding taxpayers to declare their self-employed income support scheme (SEISS) payments in their self-assessment return for the 2021/22 tax year. The Government paid SEISS grants to eligible businesses adversely affected by the Covid-19 pandemic, with over 2.9 million people claiming at least one SEISS payment in the 2021/22 tax year. The grants are … Continued
The Bank of England (BoE) decided to increase the base interest rate from 2.25% to 3% last month in a bid to curb inflation. The 0.75 percentage point rise is the largest hike since 1989 and the eighth consecutive increase since December 2021. Updated projections from the Bank’s Monetary Policy Committee (MPC) indicated that the … Continued
A new survey from the British Chambers of Commerce (BCC) reveals that business confidence declined significantly in Q3 compared to Q2 of this year. Of the 5,200 firms that took part in the BCC’s quarterly economic survey, nearly four in ten (39%) businesses believe they will see a fall in profits over the next 12 … Continued
Prime Minister Rishi Sunak announced that the statement on the Government’s fiscal plan, originally planned for 31 October, will be delayed until 17 November. The PM said the delay is in an effort to ensure the tax and spending plans “stand the test of time”. The statement will also be released alongside a full economic … Continued
The inflation rate hit 10.1% in the 12 months to September, according to new data from the Office for National Statistics (ONS). This is up from 9.9% in August and sees a return to the recent 40-year high witnessed in July. One of the biggest contributors to the rise in the inflation rate in September … Continued
HMRC has announced that penalties will be issued to those not completing VAT returns through Making Tax Digital (MTD) from 1 November 2022. Anyone who files a VAT return via a non-electric submission will face penalties of up to £400. These changes will apply to VAT customers for accounting periods on or after 1 April … Continued
The Easter Bunny has come early!🐣Chocolate inspired pay day treat for all our lovely staff 🍫 🐇
2
🎄Merry Christmas🎄
The BWM office will be closed over the Christmas period from close of business on Friday 23 December 2022 at 12pm until 9am on Tuesday 3 January 2023.
Tempest Suite 5.1, 12 Tithebarn Street,
Liverpool, L2 2DT
Phone: 0151 236 1494
Sign up for news of BWM seminars and events
