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IOSS Seminar (online)

Hosted by Essentia Global Services/Deeks VAT Consultancy on Thursday 10th June at 11.30am to 12.30pm On 1 July 2021, the European Union (EU) will introduce sweeping reforms to the VAT obligations for B2C e-commerce sellers and marketplaces. These changes include:  launching the EU VAT Return One Stop Shop; Closing the €22 import VAT exemption loophole with a…Read More

3 ways COVID has changed business valuations

MAY 2021 Whatever your reason for requiring a business valuation, we can provide a valuations service that stands up to scrutiny. In this last year, COVID-19 has seen business owners find it even harder to establish and agree upon a fair market value, making it even more important to call upon the experience and judgement necessary to calculate the value…Read More

Budget 2021 – one to be remembered

4TH MARCH 2021 – Reflections on yesterday’s Budget from our Tax Partner Ian Kelly. Read on for initial information on COVID assistance, COVID fraud, an update on Taxes, Research & Development Tax Relief, Housing, Freeports, and what the Budget means for the Tees Valley. Our more comprehensive budget summary can be found here. ——————– So,…Read More

Budget Predictions

1st FEBRUARY 2021 Thoughts from Ian Kelly, Tax Partner, Davies Tracey. Well, in the midst of the pandemic and another lockdown, we have a Budget on its way with Chancellor Rishi Sunak due to present his second on 3 March. It’s fair to say that some view Sunak as having emerged from the current crisis…Read More

Local Restriction Support Grants

JANUARY 2021 Following our updated summary of economic support from the government for businesses and individuals affected by the third national lockdown (click here to view), we hope the following collated list will further help our clients. These are links to the relevant pages of various local council websites, should you wish to apply for…Read More

Winners of ‘Racing home for Christmas’

DECEMBER 2020 When Archers Law set a fun, festive step challenge we were really happy to join in. There’s more on ‘Racing home for Christmas’ here on the Archers Law website, but in short they challenged participating teams of 6 to a race of 633,600 steps, which is the equivalent of 300 miles or the…Read More

Why managing payroll is more complicated – and important – than ever

DECEMBER 2020 Our payroll manager, Sarah Gosney, recently wrote down her thoughts on the payroll sector and its integral role during 2020, which were included in the Tees Business Magazine, winter 2020 issue. Click here to read the article (on page 88), and magazine in full. Call Sarah on 01642 606003 with any payroll queries.

CJRS Compliance Checks

NOVEMBER 2020 We are aware that HMRC are now sending out letters to individuals and small businesses to commence checks into claims made under the Coronavirus Job Retention Scheme. The letter reads: The Coronavirus Job Retention Scheme (CJRS) was set up to help employers pay their employees’ wages during the Coronavirus (COVID-19) pandemic. Our records…Read More

Furlough Scheme Extended

A government announcement on Saturday 31st October declared a national lockdown starting from midnight Wednesday 4th November and initially due to last until 2nd December. The government have confirmed an extension to the existing furlough scheme during this period and we have listed some of the main points below that have been published so far…Read More

Chancellor’s Summer Statement

Reaction from Ian Kelly, Tax Partner, 8th July 2020 So now we know, the Chancellor’s Summer Statement wasn’t a Budget. In fairness, Rishi Sunak had been at pains to quash rumours of a Summer Budget but many pundits were still holding out for, and expecting, one. Mr Sunak had a difficult act to follow, recent…Read More

Time to give attention to accounts and tax returns

An article by Ian Kelly, Tax Partner – June 2020 As I write this column, the Prime Minister has just announced further relaxations of the lockdown. So there are signs that life is going to start to return to what we hope to be some form of normality. With stability now, hopefully, replacing the recent…Read More

Self Employed Income Support Scheme (SEISS)

The Government has announced that the SEISS has now gone live. Financial support is available to self employed individuals who meet certain criteria. To see if you are eligible please click on the link below. You will need your Unique Tax Reference (UTR) and National Insurance Number. Check if you can claim a grant through…Read More

HMRC Enquiries, Investigations, Reviews and Checks

We are expecting HMRC to step up their activity in these areas once the emergency measures are eased and especially in areas such as employer compliance and VAT where the greatest help has been given. Attention can also be expected on the accountancy side to reflect the accountancy aspects of the financial assistance received and…Read More

Budget – 2 months on

It is easy to forget that there was a Budget, the first for some 18 months, in early March and at some point there will be one or more follow-ups to start the process of repaying the Exchequer for the financial assistance currently being provided. Tax rates will undoubtedly have to rise and this needs…Read More

Coronavirus Update, April

Client Update, 28th April 2020 For the self employed and partnerships, there is an immediate deferral of the 31 July 2020 payment on account to 31 January 2021. This means that the liability for the year ended 5 April 2020 minus the payment on account made on 31 January 2020 becomes payable at the end…Read More

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